Example Appraisal + Appraiser’s Statement

The following appraisal is accurate to both my belief and knowledge. It fully conforms to the appraisal methodology set forth by the Uniform Standards of Professional Appraisal Practices and is accepted by the Internal Revenue Service of the United States Department of Treasury. I also hereby declare that I have no past, present or foreseeable future financial interest or bias with regard to the property described in this evaluation. Furthermore, I declare that I am not the owner, the donor, the donee, a party to the transaction in which the owner or donor acquired the appraised property, employed by or related to any of the foregoing persons, or married to any person who is related to any of the owners or donors for which this appraisal was prepared. And, if regularly used by the owner or donor, donee, or party of the transaction, I performed the majority of my appraisals during my tax year for other persons.

Also, I declare that I hold myself out to the public as an appraiser or perform appraisals on a regular basis; and that because of my qualifications as described in the attached appraiser’s qualifications, I am qualified to make appraisals of the type of property being valued. Furthermore, in regards to donations, I understand that a false or fraudulent overstatement of the property value as described in the evaluation may subject me to the penalty under section 6701(a) (aiding and abetting the understatement of tax liability). In addition, I understand that a substantial or gross valuation misstatement resulting from the appraisal of the value of the property that I know, or reasonably should know, would be used in connection with a tax return, claim of refund or insurance claim may subject me to the penalty under section 6695A. I affirm that I have not been barred from presenting evidence or testimony by the Office of Professional Responsibility. I am fully aware of all rules and regulations as stated in IRS publication 561.

The fee for preparing this written appraisal is based on a per hour or per item rate, rather than a fee based upon a percentage of the appraised value.

This appraisal document shall not serve as a substitute for proof of ownership or authenticity. However, the appraiser will make every effort to verify the authorship of appraised artworks before the execution of this document. Should authenticity not be accepted or obtained by the appraiser, then the requested written appraisal will not be prepared. Possession of this document or any copy thereof does not carry any right of publication or any other purpose without the written consent of the appraiser. There are to be no changes of any kind made to this appraisal document other than by the undersigned

Fair Market Value: Fair market value is the basis on which I placed the values on the works of art in this appraisal. The definition of fair market value is the price at which the artwork would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having knowledge of relevant facts. In determining appraised values, the following factors are also taken into account: the importance and reputation of the artist; the importance, rarity, quality, condition, and authenticity; prices for which other similar works have sold in private transactions and public auctions as well as prices scheduled at reputable galleries.

Nikolai Nikolaevich Baskakov (1918-1993)
Milkmaids, Novella

Date: 1962
Size: 47 x 90 1/4 inches
Materials: oil on canvas
Signature: signed and dated lower right - signed, titled, dated & sized verso
Condition: excellent
Fair Market Value: $
Inventory Number: 3A-7642
Creator: Baskakov
Category: Socialist Realism - Soviet Impressionism
Location: owner’s residence
Date Artwork Inspected: Numerous times