Original Art Valuation for Sale, Consignment or Collateral Loan
Provided that an art asset is authenticated and genuine beyond reproach, the determining factors when evaluating it revolve around rarity and desirability (or supply and demand). The physical condition and appearance of the item is always a factor to reckon with. As a rule of thumb, an Art piece is worth as much as a buyer is willing to pay for it. Value can be assessed based on comparable pieces sold at auction as well.
Due to an increasing number of questionable art pieces in recent years, Vasco is solely interested in Art related assets having complete and verifiable provenance, preferably accompanied by a legitimate Certificate of Authenticity. If you do not possess the required documentation, Vasco can provide you with expert authentication services.
Certificate of Authenticity (COA)
A certificate of authenticity is valid only if it originates from and is signed by:
1. The artist who created the art
2. The publisher of the art (in the case of limited editions)
3. A confirmed and established dealer or agent of the
4. An acknowledged expert on the artist.
Legitimate COA must contain the following piece details:
1. The title
2. The name of the artist and/or publisher
3. The medium (painting, sculpture, digital print, etc.)
4. Exact dimensions
5. Detailed information pertaining to the edition’s size (unique, number x of etc.)
6. Verifiable contact information and qualifications of the individual or entity authoring the certificate should also be included.
Original signed documentation:
All COA documentation must be original and hand-signed by the authenticators. Photocopies are NOT acceptable. A valid certificate of authenticity should contain verifiable documented proof or evidence of why the art is genuine. A COA is valid ONLY IF IT STATES CONCLUSIVELY that the art is by the artist whose signature it bears. Any conditional statements found in a certificate of authenticity such as “in our considered opinion…” or “we believe that…” will not be considered as sufficient Authentication.
COA for art by famous artists’ i.e. Rembrandt, Warhol, Picasso, and Chagall etc. should contain the following information:
1. The exact title of the art piece
2. References to professional publications and/or literature (including the corresponding catalogue number) listing the specific piece, its production date and history, names of publishers (for limited editions), edition sizes (for limited editions), and exact dimensions of the art.
3. Names of previous owners, dealers and/or galleries that have sold the art.
4. Information about auction history when applicable.
5. Any other relevant information that speaks to the art’s history and authenticity.
The term Provenance refers to the history of ownership of a valued object or work of art or literature and can take many forms:
1. A signed certificate or statement of authenticity from a respected authority or expert on the artist.
2. An exhibition or gallery sticker attached to the art.
3. A statement, either verbal or written, from the artist.
4. An original gallery sales receipt or receipt directly from the artist.
5. A film or recording of the artist talking about the art.
6. An appraisal from a recognized authority or expert on the artist.
7. Names of previous owners of the art.
8. Letters or papers from recognized experts or authorities discussing the art.
9. Newspaper or magazine articles mentioning or illustrating the art.
10. A mention or illustration of the art in a book or exhibit catalog.
11. Verbal information related by someone familiar with the art or who knows the artist and who is qualified to speak authoritatively about the art.
12. Documentation must be originals, hand-signed, hand-stamped or otherwise marked by hand.
13. Photocopies are not valid forms of provenance
14. All signatures on documentation must be identifiable, and contact information for all signers must be included and verifiable.
15. Provenance is fact, not supposition.
16. All statements made pertaining to present and past ownership and/or history of the art must be verifiable. That includes names and contact information of previous owners and proof of past ownership.(private parties, galleries and art dealers as well as auction houses said to have sold the piece in the past).
17. An appraisal does not constitute valid provenance unless it has been performed by a reputable and respected expert or authority on the specific artist, stating irrefutably that the work of art in question is by the artist in question.