Verdult Art Market Index

Appraisal for William Joseph Verdult Artwork

Appraisal

Verdult Lifetime Appraisal Program

An appraisal is an educated guess given by an expert. The person giving the appraisal should possess expert knowledge about the object being appraised. Expert knowledge comes from years of study and work. An appraisal is an opinion. The insurer and the owner of the object being appraised depend on the opinion of the expert should damage or theft occur.

The appraiser will give a price range that could be expected if the object was sold. It is very difficult for anyone to predict what someone else will pay for an object. Knowledge of the overall marketability for similar objects is required. Knowing what other similar things have brought recently in sales is the foundation of establishing value. Knowing the scarcity of the object is fundamental in setting value. Knowing how many collectors are looking for similar items is a big part of knowing the market well. It is a process of learning not only about the origins of a piece or about styles or periods of art or schools of art but also a bit about human nature and business.

The term that appraisers and insurance companies use for the price an object could be expected to sell for in a gallery, a specialty shop or an auction house sale is called the “market” value. They are trying to determine what it would bring at “market”. Market value is quite different from replacement value. A unique item really can not be replaced… after all it is one-of-a-kind… it has no such thing as replacement value.

Art Financing program for William Verdult fine art

Wealth Enterprises Corporation is offering an Art Financing program for William Verdult fine art.

The art market is experiencing a record increase in growth. There has been a lot of news about this spiraling growth and the sky rocketing prices of art work created by listed artist.

Art Financing Program Introduction

In the past, only the most wealthiest individuals banking with private wealth sections in prestigious top flight banks were able secure loans to acquire art. Today Wealth Enterprises Corporation is introducing a loan financing program that will allow you to both acquire and enjoy an original fine art work from a listed artist.

Our art financing program is designed for investors and art lovers who understand and appreciates great value.

Here is how the program works.

1. You select the art.
2. Your purchase price is set at one half the value of the appraised price of the artwork.(1)
3. You pay a down payment of 25-30% of the purchase price.
4. You pay monthly payments on the balance.(2)
5. You have up to 60 months to pay for the artwork.(3)
6. Once the down payment is made, the artwork is shipped to you framed and insured.

During the term of the loan, the artwork must remain in your possession and can not be sold unless the Corporation expressly agreed to in writing. Insurance must be maintained on the artwork and the beneficiary of the insurance must be the Corporation.

Note:

(1) The artwork is appraised by a 3rd party government sanctioned independent appraiser.

(2) The Interest rate ranges from 5.5% to 10.5%.

(3) Though you do not require excellent credit to qualify, buyers' credit will be reviewed.

Art Financing Program Introduction

 

For more information contact mike@verdultgallery.com

William Verdult Include Headliner Exhibits and One Man Shows

After nearly 20 years of work he completed his rendition of King Tut Treasures which later became infamous for its alleged collections of, gold, diamonds, and precious stones. Data revealed that in 1991 William was charged with exaggerating the value of diamonds and precious jewelry on his work.

Though his exhibits and showings are too lengthy to list they include headliner exhibits and showings of the Tut Collection and other works at the Sahara, Sands, Sundance and Marina hotels in Las Vegas, as well as five star establishments in San Francisco, Corona Del Mar, and Beverly Hills Hollywood California, Atlanta, Hawaii, Florida and Texas. Today seven pieces of the Tut 53 piece jeweled collection is on display at the Tanglewood Resort in Texas.

Though William did not follow the traditional museum route in displaying and promoting his works, his art followers and personal friends include a list of who’s who in Hollywood highlighted by his close friendship with Telly Savalas. Some collectors of his work include: Frank Sinatra, Paul Newman, Elvis Presley, Jack Lord, Farrah Fawcett, Telly Savalas, Zsa Zsa Gabor, Lee Majors, Alfred Hitchcock, Tom Jones, Kim Novak, Robert Redford, John Wayne, Red Skeleton, Dana Mark of 'Police Academy', Connie Francis, and Clint Eastwood.

Documented receipts and records of sales of his art show his art appraising and selling for several thousands of dollars.

A true philanthropist he has donated money and many of his works to charity, state governments, educational centers and foundations. His work entitled ”Into The Battle Front” hangs on Top of the Mountain Building in Stone Mountain Park, Georgia. The Make a Wish Foundation, the Governors of Georgia and Hawaii and numerous universities have thanked him for his generous donations to their causes and institutions.

Listing of one-person and group exhibitions:

1. July - October – 2000 Houston Community College Inaugural Exhibit – King Tut

2. December 6, 1999 –One man Showing Beverly Hills, CA Exhibit

3. Feb 22, 1991 King Tut One Man Showing Daytona Beach, FL

4. 1987 – One Man Showing - Wilshire Hotel, Beverly Hills, CA

5. Nov 19 -25 1984 King Tut Showing at the Sands Hotel, Las Vegas, NV

6. Nov 10-17 1984 King Tut Showing at Alladin Hotel, Las Vegas, NV

7. July 19-21 1984 King Tut Showing at the Hotel, Atlanta, GA

8. July 10-17 1984 King Tut Showing at the Sundance Hotel, Las Vegas, NV

9. Mar 25 - April 2, 1984 King Tut Showing at Sarah, Las Vegas, NV - Telly Savalas Special Guest

10. July 6-8, 1980 – One Person Show - Hotel Saint Fransis, Union Square, San Francisco, CA

11. November 20, 1976 - Corona Del Mar - Special Guest Lennon Sisters

12. 1967 - Laguna Beach, California Art Festival

13. 1967 - Catalina Island Exhibit

Major art websites where art is referenced:

- Artnet.com
- Artprice.com
- Askart.com

Reflections by William Joseph verdult - Records Increased Sales

Reflections by William Joseph Verdult records cash sale of $29,000.00.

Name: Reflections
Artist: William Joseph Verdult
Size: 30 x 40 inches
Medium: oil on aritst paper
Approximate date created: 2004-2005

Verdult A picture of healthy growth

According to the Financail Times, lending against art collateral, once a small, quirky and conservative corner of the financial world, is a rapidly growing business. “Since May we have a lot more art [linked] borrowing than in the past few years,” says Jane Heller of the Family Wealth Advisors unit at Bank of America. “It’s as if the customers all picked up a book somewhere that I don’t have.”

Such numbers as are available in this secretive sector show the growth trend started earlier. Sotheby’s Financial Services, the auction house’s lending subsidiary, increased its revenue by more than 40 per cent from 2004 to 2005, to $8.3m.

Suzanne Gyorgy, who manages art advisory services at Citibank’s private bank in New York, says: “Our art lending portfolio has been growing by 20 per cent annually for the past four years.”

Apart from Sotheby’s, which is a public company, nobody else will break out the size of their art lending balance sheet. The banks involved in the business say the worldwide total of loans against art is still small, possibly in the $3bn-$5bn range. They are eager to increase their book of business, though they face competition from a handful of specialised non-bank lenders. You can see why they would be interested. Few losses are being incurred in art lending, and the rates are high.

Frequently, a lending business that is growing at double digit rates is heading for imminent disaster. Lending is, or should be, a get-rich-slow business.

And art-based lending sounds as if it should be a shaky, speculative business. It turns out to be rather low risk, possibly because the people engaged in it have a cautious view of both their customers and their collateral. For example, Mitchell Zuckerman, the president of Sotheby’s Financial Services, says that of the roughly $5bn he has lent since the early 1980s, he has written off $15m in loan losses.

Collection Collateral - verdult Possibilities Abound!

According to Philadelphia writer Cathleen McCarthy, a few years ago, an art collector approached Bank of America asking for a loan—a big loan.

Andy Augenblick, an art collector himself, started
Fine Art Capital to lend funds against art and antiques.

“He was getting on in years and he wanted to build a museum to house his collection,” recalls Randy Hess, a senior vice president for the firm’s private bank. The man wanted to use the art itself as collateral for the museum. Hess still sounds excited when he remembers seeing the paintings in question—a world-class collection of American modernism, including several classics by Jasper Johns. The art was so valuable, the bank loaned $100 million dollars against it, and the collector built his museum. Then he came back for another loan to build a second museum in France. “At his passing, the loan moved into a foundation and became an estate transfer vehicle. That was a unique situation,” Hess admits, “but to me, it reflects the creativity you can bring to leveraging an art collection.”

The Results are in and the Barricks Lawyer lost Again in asseing artwork by William Verdult

Reference the post on "Verdult - Why would you go to a lay person to operate on your money?"

This post involved an instance where a person allegedly took an original Verdult “to two local art galleries where professional appraisers with degrees in art appraising then appraised the piece. They both appraised the piece and said it was not worth anything, it was just a decorative piece.”

In the post we indicated that we "are not familiar with an independent third party qualified appraiser (whether they have a degree or not) rendering an opinion on a listed artist work without providing written documentation of their opinion and providing documents which list the organization they belong to that makes them qualified to render such opinion.”  Further we challenged the alleged appraisers assertions by having perhaps the preeminent appraiser of verdult artwork provide a formal appraisal of the original art piece that was claimed to be "worth nothing and a decorative piece" at most.

Well the official results are in. The original painting that was alleged to be worth nothing appraised at $27,500.00. This is a formal appraisal conducted by a third party independent appraiser who is sanctioned by several Government agencies and the IRS. In addition his opinion in 20 years has never been over turned by a Court or an insurance company.

To make a long story short, if the person would have listened to people who claimed to be qualified but had little or no expertise and certainly was nowhere near credentialed and qualified as the person providing the formal written appraisal, the person would have been out of several thousand dollars.

Again a word to the wise, because the price of art continues to spiral upward, all types of person are coming out of the woodwork claiming to be experts; why chance things? You are dealing with a valuable asset class when you are talking about original fine art from a listed artist such as Verdult. Get the best advice you can from someone that is truly qualified to give you advise.

Art collectors with average budgets exceeding $10,000 per work benefits the most from Verdult

As shown here, as with art lovers and investors in general, those who invest $10,000 or more in Verdult works stand to gain at a rate greater than other figures. According to extensive data by artprice.com, this trend holds true in the art market in general fro works of art above the $10,000 mark.

Looking more closely at the market we see very contrasting market performances on the different segments. For example, the top of the market (i.e. expensive works) is much more dynamic than the lower end. The top-end is also the most dynamic in terms of growth.

In effect, for works carrying reserve prices of $10,000 and above, the bought-in rate is only 26.2%. Below the $10,000 mark, the bought-in rate is 35.5%. The price index for works bought for under $10,000 grew only 8% in 2006 and today stands at 20% above its 1990 level. Inversely, for works above the $10,000 threshold, the 2006 growth rate was 33% and the index is now at 32% above its 1990 level.

At less than $10,000, minor works by reputed artists rub shoulders with the mass of reproductions and the works of less well known artists. Indeed, the fame of the artist and the rarity of the work appear to account for the essence of a work’s value. The future profitability of a work of art depends above all on the fame of the artist. Art collectors with average budgets exceeding $ 10,000 per work stand to benefit the most from the current price rise context.

The boom in art prices during 2006 - and It's Impact on Verdult art

According to artprice.com annual report, the growth of the public auction art market is unprecedented. Artprice has compiled a hotly disputed TOP 10 based on price inflation and sales volumes. At the heart of this dossier, Artprice offers an exclusive ranking of artistic movements based on recorded price progressions.

According to artprice.com, art prices continued their ascension in 2006 with sharp acce-lerations observed on most major markets. At a worldwide level, Artprice’s global price index was up a further +25.4% over the year, to just 5% below its peak level in 1990. In the United States, however, prices are now 32% higher than the speculative bubble peak in 1990.

Driven by galloping prices and a whole new generation of rich art collectors, the number of over-a-million-dollar sales has taken off. Today’s prices are in effect without precedent. In 2006 no less than 810 works sold for over a million dollars, generating total auc-tion revenue of $ 2.7 billion. In 2005, 487 Fine Art sales generated fi gures above a million and total auction revenue of $ 1.4 billion. Until the end of the 1990s only 100 to 200 auctions per year broke through the million-dollar threshold. In total, the global public auction Fine Art market generated a total revenue of $ 6.4 billion which represents double the amounts regularly posted during the 1999 - 2003 period and an increase of 52% compared with 2005.

In 2006, there were 9,200 auctions of Fine Art worldwide compared with 9,600 in 2005 and more than 15,000 in 2000. However, while the number of catalogued sales appears to be diminishing, the volume of works on offer at each sale is growing sharply: more that 400,000 lots were offered for sale in 2006. For the third year running the bought-in rate has remained stable at around 34%. This level, still high considering market conditions, has less to do with buyer indifference towards the less interesting pieces and more to do with sellers asking very high reserve prices. Indeed we are seeing a number of collectors taking advantage of the current climate to sell off works they acquired expensively in 1989-1991.

William Verdult artwork:

We are finding the same upward trend for "cash prices" for William Verdult artwork as can be found in the art market in general. Recent record "cash" sales have been recorded for Verdult artwork.

Latest official appraisal of a William Joseph Verdult

According to our records, as of April 6, 2007 the latest official appraisal of a William Joseph Verdult piece of artwork appraised between the range of $25,000 and $30,000.

We have a number of 3rd party independently appraised works by William Joseph Verdult. The lowest appraised original Verdult we have on record is $16,000. The highest appraised work is well over $100,000.