Insurance coverage

Insurance coverage appraisal reports are your firm's evidence of value in the event of a loss and claim. These generally focus on estimating replacement value, which is your cost to replace a stolen, damaged or destroyed item with one of “like kind and quality.” The reports also bear witness that you were in possession of the property and provide an accurate description of it. 

Appraisal Associates has a great deal of experience with this type of appraisal, and most insurance companies in Canada are familiar with our reports. We offer several appraisal options based on the value of your firm’s property, the size of your collection, and the degree of detail you require.

Please contact us to discuss insurance coverage appraisal options.

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Insurance loss / claim

Appraisal Associates works with many insurance adjusters who process complex and unusual personal property claims involving art, antiques, and decorative art. As a result, we understand the type of information insurance companies want in a claim-related appraisal report. Appraisal Associates can bring this knowledge and experience to your firm’s claim when your insurance company asks for proof of value.

Put our skill and experience to work for you when your firm needs to produce proof of value after a loss and claim. For more information, please contact us.

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Charitable donations

Canadian firms donating art, antiques or other collectibles worth more than $1,000 to registered charities and institutions with charitable status require written appraisal reports to establish the fair market value of the gifts. Increased accountability requirements and problems with overstated and unsubstantiated valuations have prompted many Canadian charities and institutions to ask that appraisals comply with “industry standards.”

To learn more about how Appraisal Associates can provide business clients with appraisal reports for charitable donation purposes, please contact us.

Cultural property donations

The Government of Canada encourages the donation of cultural property “of outstanding significance and national importance” to public museums, galleries, and other designated institutions by providing certain tax advantages to Canadian individuals and businesses. Appraisals estimating the fair market value of the gifts and conforming to specified guidelines are required in this process. 

Firms donating cultural property should consult with recipient institutions, but are encouraged to ask for Appraisal Associates’ services in the valuation of art, artifact or archival properties.

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Prospective sale or purchase

Appraisal Associates provides business clients with appraisal reports to estimate the market value of art or artifacts. Useful for either sales or purchases, these advisory reports address the key characteristics of value of the property in question, as well as a context of comparable sales. 

In providing sale or purchase advisory reports, we stress that Appraisal Associates is independent and not affiliated with any auction house or dealer. We give our clients arm’s-length appraisal reports and advice based on a full spectrum of available market information. Appraisal Associates does not buy fine art, antiques, or decorative art, nor do we take property on consignment.

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Fair value appraisals

On January 1, 2011 Canada adopted a new standard of financial reporting, joining a growing community of over one hundred nations throughout the world. Publicly accountable, for-profit businesses will have the opportunity to report assets on the basis of "fair value".

Appraisal Associates is committed to providing corporate clients with valuations of personal property assets such as art, antiques, fine furnishings, and other collectables that are in compliance with International Valuation Standards (IVS).

Please contact us to discuss your firm's valuation requirements within the context of the International Financial Reporting Standards (IFRS).

Expert witness services and litigation support

Appraisal Associates provides expert reports for use in litigation contexts. These include fine and decorative art valuations, appraisal reviews and rebuttals. Our accredited appraisers have court experience, have qualified as expert witnesses and fully understand an expert's duty to provide fair, objective and non-partisan opinion evidence. We have experience with, and an understanding of, both the Uniform Standards of Professional Appraisal Practice and International Valuation Standards.

In addition to expert witness services, we offer litigation support. We can provide opinions on compliance with professional appraisal standards and advise legal counsel in the preparation of examination for discovery questions related to personal property valuations.