Private Sources
Winston Art Group facilitates purchases and sales of artworks from private client to private client.
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Comparables
In art appraisals, comparables are examples of similar works that have sold. They provide a frame of reference for assigning value to the piece at hand.
Provenance
The history of a work of art – its creation and previous ownership.
Catalogue Descriptions
In art, a catalog description includes identifying characteristics for the work of art, such as artist name, artist nationality, title of work, date of work, dimensions, provenance, exhibition and literature history.
Estate or Household Clearout
This refers to the removal of household items such as low-value art, furniture, furnishings, and collectibles that does not hold enough monetary value to be sold on the primary or secondary markets. When working with an estate, Winston Art Group will …
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Marketable Cash Value (MCV)
The value realized, net of expenses, by a willing seller disposing of property in a competitive and open market to a willing buyer, both being reasonably knowledgeable of all relevant facts and neither being under constraint to buy or sell. …
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Donation
Winston Art Group will provide a Fair Market Value appraisal of fine art, decorative art, jewelry and collectibles being donated to a not-for-profit institution. This appraisal can be submitted to the IRS to obtain appropriate tax deduction.
USPAP
Uniform Standards of Professional Appraisal Practice. Guidelines issued by The Appraisal Foundation outlining procedure for correctly prepared appraisals.
Fair Market Value (FMV)
The price that property would sell for on the open market between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts. This type of value is used for …
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Salvage
Property that has been damaged and has been abandoned by the owner, thus acquired by the insurance company. Winston Art Group can be engaged by insurance companies to sell salvage to recoup a portion of lost profits on behalf of …
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