Welcome to Cynthia Shaver Asian Art Appraiser Newsletter September 2024,
Thank you for your time.
The end of August, I had a consultation for a group of late 19th c Japanese Satsuma, including teapot, creamer and sugar, cups, saucers and a few plates. It was quite interesting to learn about the development of the porcelain, including kidnapping potters from Korea because of their skill level. I was able to show comparable teapots, the client’s property being older and with intricate detail. I don’t often see early Satsuma ceramics today, and not a group with such depth. This consultation was virtual, but I could show on my smart phone later Satsuma with raised painted globs of clay, not painted dots. During my virtual zoom visits like this, I have my smart phone next to me to show a detail or photo, as well as to do further research. I enjoy these hourly virtual visits. The longest was four hours, with thirty scrolls, each valued over $3,000.00.
The Covid pandemic made virtual meetings common, familiar, and my business has benefitted. The IRS lifted regulations regarding virtual estate inspections, now my estate clients are not mainly from 94920 zip code. Although I perform few insurance appraisals, the property can now be virtually inspected.
THIS IS FROM IRS WEBSITE
https://www.irs.gov/appeals/art-appraisal-services#preferred
“Review the AAS preferred item format PDF for works of art valued at $50,000 and above. Note: This format is recommended for the object identification section in the appraisal report. It is not intended to stand alone as an appraisal report.
The appraisal of each work should also provide the basis or reasoning as to how the appraiser arrived at the individual appraised value. Individual comparable sales should be included. These sales should be analyzed in terms of quality, relevance, and how they relate to the subject property. The item discussion should include commentary regarding any special conditions or circumstances about the property, a discussion of the quality or importance of the property in relation to other works of art by the same artist, and the state-of-the-art market at the time of valuation. Whenever possible, statements should be supported with factual evidence.
It is understood that complete information will not be readily available in every case. However, the validity of the appraiser’s valuation is enhanced and the IRS’s appraisal review facilitated by complete and accurate information.”