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.
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