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09/May/23

Founded in 2007 by Jennifer Garland Ross, Art Peritus is an Art Appraisal, Advisory, and Collection Management firm serving clients worldwide, with offices in New York, Los Angeles, Florida, Colorado, and London. Working with private collectors and industry professionals, the firm guides clients through the nuances of the appraisal process and ensures that the needs of any size collection, across all categories, are properly considered and in the client’s best interest. In early 2022 Art Peritus launched AP Selects, an online sales venture in which clients can consign art and furniture for sale through the business website, as well as on 3rd party independent online platforms including Incollect.com. We sat down with Jennifer Garland Ross to ask her about the AP Selects platform.

Tell us about your appraisal business.

We provide detailed, objective, carefully researched, and illustrated appraisals that conform to the most recent USPAP standards and The Getty Information Institute “Object ID” standards. We subcontract to over 50 specialists to do appraisals and reviews, so have valuable expertise in all areas of collecting from design and art to jewelry and wine.

We are also well known for the damage and loss appraisal work we perform for insurance claims. For example, when there is a fire in a building, everything needs to be checked for soot. Since soot is so corrosive, most things affected by it need conservation. From an immediate assessment of how best to secure and stabilize any type of artwork, to the engagement of professional conservators and handlers, to establishing the potential loss in value — we provide our clients with white-glove service overseeing every step of the process, start to finish.

What are some of the recent projects you have worked on?

Due to confidentiality, we typically can’t speak about our clients. However, I can share our recent work on an extensive collection belonging to the Ann and Gordon Getty Foundation which sold at Christie’s last fall. We carried out the complex donation appraisal on behalf of the family foundation, producing the report required by the IRS.

You have just launched AP Selects, in early 2022. What was the thinking behind this move into online retailing of various collectibles, especially furniture?

We are art and furniture appraisers and consultants and have been brokering sales through auctions since the company’s inception. However, as the market has shifted over the last fifteen years, the gap between an auction vs retail value has grown much wider creating significant losses for previously coveted antiques. So, we decided to test the market for a select group of clients who were looking to downsize or change the interiors of their primary residence or second home. They typically have quite a bit of furniture and decorative art to sell. AP Selects gives them another option to consider for resale with returns falling between low auction and high retail.

So you don’t take possession of the items?

No, the objects stay in the home of the owners to keep their expenses low, and so they can use and enjoy them until a buyer or new home is found. However, there are times when clients decide they do not need or want to live with the piece any more and choose to keep the property in storage until it is sold. We first vet the pieces by checking for authenticity and condition, then we photograph and complete the valuation before listing them on our site and other third-party sites such as Incollect.com in return for a commission. It is another way of bringing desired collectibles to market and usually only for a limited time.

What mostly do you show and sell?

I was a European furniture specialist at Christie’s before founding Art Peritus. Although we tend to have quite a bit of European furniture listed due to my area of expertise and background, we have a wide variety of property on offer including quite a bit of fine art and will continue to branch out across all categories of collecting. I would say about 80% of what we sell now falls in the decorative arts category and is considered historical material. Rarely is the property new unless it is a unique or custom design.

How many pieces do you have listed?

Right now, around 250 objects across a few digital platforms, with an additional 400 new objects coming to market soon. There is no limit to what we can manage so long as the property is in good condition and can be listed at a price the client is comfortable selling.

What is your perception of the current market for design and furniture?

It is hard to generalize. I feel it is surely contracting in some areas but expanding rapidly in others. Overall people still have an eye out for unique, good-quality pieces across all categories.

My experience in the antique world tells me the blue-chip top end of this market is still doing fine. There are fewer top-end items for sale overall, however, the truly important pieces are still in demand commanding strong prices. Often In the past, interiors were decorated entirely in traditional style, pieces would stay in the residence permanently and then be passed down to the next generation. That is not typically the case today.

Why do you think this is happening?

The taste for decor has changed. We have 3 clients selling homes that were decorated in a traditional English or Continental (giltwood furniture) style. Each of them is shifting into a completely modern interior, purging their previous style entirely, all at once, and not always downsizing from their 25,000 sq ft home!

What are your best clients like?

Our best clients are those who want to cherry-pick specific pieces from different periods, places, and genres and integrate them together — it gives character and flavor to the interior rather than one consistent ‘packaged’ look. It’s wonderful when clients inject their opinions, personality, and taste. We collaborate with interior designers and their clients often to find those special pieces for their projects.

What is one of your most important and largest sales through AP Selects?

Recently we sold an early 20th-century painting considered an important work of American modernism. The piece sold for $2 million. We have quite a nice collection of mid-century Venetian glass as well as some interesting Art Deco furniture and bronzework coming to market that will be posted online shortly.

Discover More From Art Peritus Selects on Incollect

Read original interview on Incollect

Brooke Mellen

17/Feb/23

Art Peritus recently sat down with Katja Zigerlig, Vice President, Art, Wine and Collectibles Advisory at Berkley One, a Berkley Company (WRB) to discuss the nuances of collecting and insuring Fine Art. Katja consults with collectors as well as insurance and financial advisors on the physical and financial protection of their passion investments. Brooke Mellen, a Former Risk Manager at Sotheby’s who now runs Cultured Forest chatted with Katja about New Year’s resolutions in relation to art collecting.

BLM: Have you made any personal art-related resolutions this year?

KZ: I’m a fan of Hilma af Klint, a Swedish artist who had a popular retrospective at the Guggenheim Museum in 2019. I received her biography as a present recently, and I’m intrigued to visit the Goetheanum in Dornach, Switzerland this summer. It is a structure built by Rudolf Steiner, and home to the Anthroposophical Society, which drew artists both for the architecture and the philosophy.

BLM: That sounds like an intriguing art destination. On the practical front, are there any resolutions you are making for 2023?

KZ: To dust my books and the tops of frames more frequently! I live in NY, and it’s astounding how dust gets into a home despite closed windows and the use of air filters. Sometimes the particles are not even visible, but then they appear on the dust-cloth. It’s so important to minimize gradual deterioration from environmental factors.

B: Do you discuss this kind of art collection care with your clients?

K: (laughs) Ah, yes, that can be a delicate conversation. The most common discussions are usually around installation and ongoing care and cleaning, like the dusting. First, always use weight rated hooks and use at least two hooks, unless the artwork is, well, tiny! I have seen mirrors and framed works fall off walls because the hooks weren’t able to support the weight. Also, I recommend hiring an art installer for larger works and/or works suspended from the ceiling.

If you have delicate artwork in your home, be sure to alert guests and household staff. I’ve seen martini glasses placed on a Donald Judd sculpture by unaware party guests. Be sure to give specific instructions about the art not to touch/clean. We’ve seen instances of household help accidentally damaging works of art because they don’t know it is art, or were not aware how fragile an artwork is. A sculpture shouldn’t be cleaned with all-purpose cleaning spray, for example.

B: Should updated appraisals be a resolution for collectors?

K: Certainly, especially if they haven’t had an updated appraisal in 5 years and/or they are collecting in a genre or an artist in which there has been a lot of market fluctuation, such as women Abstract Expressionists, contemporary Black artists, just to name a few general areas. You know how much money you have in your account, so why wouldn’t you want to know the current value of your passion investments? And I use the word investment broadly – an investment of time, money, space and intention.

Appraisals are important not only to make certain you are appropriately insured, but it can also help you make smart decisions about charitable donations, gifts to family members or making the decision to sell the work. It’s one of the most important documents a collector can have, along with purchase invoices, and an insurance policy of course.

It’s also important to use a professional appraiser, like the staff at Art Peritus. I mention this because in my more than 20 years in this business I have seen appraisals by people who are not qualified. They don’t have the correct credentials. There is not enough information. In one case, a person lied about their qualifications. These types of valuations are not accepted.

B: Ah, so you take appraisals very seriously!

K: Yes indeed. Every insurance company has a different threshold for the value documentation they would like to see. When requesting insurance for your valuable collectibles, whether art, collectibles or jewelry, you should always have proof of value. Most often this is the invoice from where you purchased the item. If the item has increased in value, an updated appraisal validates the increased value. And a “qualified appraiser” is key.

B: When considering insurance, what is the difference between Blanket and Scheduled insurance coverage for collectibles?

K: Scheduled coverage separately describes individual collectibles to be insured at a specific value. Blanket coverage is based off of a blanket value that covers multiple collectibles, and is often used to cover lower-priced valuables. While there can still be a maximum limit per item, each piece of artwork or collectibles is not scheduled separately.

A collector should also be aware that when an insured has blanket coverage, in the event of a loss, descriptions and valuation will need to be established. That process could be complicated where the loss event also resulted in the loss of the documentation of the items’ descriptions and values, as insureds are usually required to demonstrate proof the item had been in their possession before the loss. An independent agent is a great resource for advice on whether scheduled or blanket coverage makes sense for a specific collection.

Collectors interested in learning more about coverage generally can also check out various collections related articles at the Berkley One blog here.

B: Speaking of Art Insurance, any general advice for collectors?

K: Purchase the right amount of insurance with a reputable, financially strong insurance provider that understands fine art insurance, including the claims that typically occur. An insurance provider like Berkley One has deep experience in collections, as well as experts within the company who are collectors themselves and can consult with and assist clients throughout the full cycle of the policy—from adding a new valued piece of artwork, to life events like moving or shipping, and more.

B: What sets Berkley One apart from the average insurer?

K: Having arts expertise on staff is a key differentiator. I can tell you what it is like not to have someone like that on staff. Many years ago when I was renting an apartment, I insured my art with a direct writer (editor’s note: a direct writer is a carrier that does not sell insurance through independent agents). I had purchased an artwork from a gallery in San Francisco, shipped it to my apartment, and requested insurance. I submitted the invoice, bill of lading, and proof it had been delivered as well as a photograph of the art hanging on my wall. The insurance representative insisted on coming out to my apartment to inspect the painting in person to make sure it was what I said it was. After that I immediately switched my insurance company. Imagine going through such a process when adding any item worth more than $1,000, even though I had provided more than enough documentation supporting the purchase.

I’m not the only expert on staff, of course. I have colleagues with expertise in jewelry, boats, yachts, and classic cars, as well as engineers and risk managers. Subject matter expertise is so valuable, and helps provide peace of mind.

B: In keeping with our new year’s themes, are there any exhibits you are excited to see this year?

K: I just saw the Meret Oppenheim retrospective at MoMA. The survey of this important Surrealist artist was postponed by Covid, so I was so happy to finally get to see it! She worked in so many mediums: drawing, painting, theater, sculpture, and also made jewelry. Her persistent need to create is inspiring. MoMA had purchased Oppenheim’s famous Fur Teacup sculpture back in 1936 – it was the first work by a Surrealist artist, so it’s especially poignant to see a large selection of her work at the first American institution that collected her.

B: Thanks so much for your time, Katja. This inside look into the art industry has been so insightful! Where can readers go to learn more about both you and Berkley One?

K: Of course! Readers can learn more about about Berkley One via our LinkedIn found here or via our website berkleyone.com Additionally, I can be reached via LinkedIn here.

Brooke Mellen

24/Oct/22

By now many have heard about the group “Stop Oil Now” pouring a can of soup on “Sunflowers” by Vincent Van Gogh at the National Gallery. The incident was originally reported via Artnet. The intent of the activists involved (according to their messaging) was not to damage the painting that was protected behind glass, but instead to call attention to their climate-centered mission and encourage society to question what we value on the whole. The Climate Activists said at the time of protest, “What is worth more, art or life? … are you more concerned about the protection of a painting or the protection of our planet and people?”

The protest and this statement have sparked a range of opinions and passionate responses from across the spectrum. Many who fear the impending climate crisis do not see this act as criminal, but rather an important statement about impending climate change. Others, such as Art Insurers and those whose job it is to protect cultural patrimony, see it in another light-one of a threat to something they value and hold dear. Both sides feel the stakes are high. Is there something to be learned by this incident? Is there a middle ground?

As a former Risk Manager at Sotheby’s, these were the sorts of moments that would keep me awake at night. I was hired to protect the organization against loss, including both employees and the Fine Art. At all times I was to be conscious of what was happening to important objects in our care, and see after the safety of employees and patrons. There were steps that we took to protect art such as having visitors check baggage, adding protective glazing to pictures, and reviewing alarms and security. If I were still a Risk Manager, I would also be reaching out to my insurer to check on my coverage for Vandalism and Malicious Mischief and setting a threshold of value at which we add protective glazing and security barriers to viewing items.

At the same time, can one care about the safe keeping of art, but also be concerned about the environment? As a nature lover, I have to say it is a resounding yes. If I stop to look at my actions as an individual and from within an organization in this moment, am I “giving in” to what might be considered unlawful behavior? I think not. I can take this opportunity to look at my behaviors and consider what the motivation is behind these protests and make appropriate adjustments.

There is certainly room within the Art World for more sustainable practices. Several art shippers including Crozier & Momart have begun implementing more art shipments by sea and sustainable practices. And generally speaking, any organization can look at its carbon footprint and find ways to be gentler on the planet. And as an added bonus, you reduce costs while also aligning with the values of those who care about the environment. According to the New York Times titled, “Mindful of its Impact on the Planet, the Art World Aims for Sustainability” :

Some 70 percent of collectors, for instance, now think about “sustainability options” when purchasing art or managing their collections; 64 percent are concerned with reducing their personal travel to art-related events and 68 percent are open to employing more environmentally conscious delivery methods when shipping pieces of art.

A large percentage of art collectors care both about the Planet and art, and this will only increase with time. To not consider these statistics would be a misstep for any organization. If you wish to learn more about sustainability in the Art World, here are a few organizations that are making strides in the area::

Superflex https://superflex.net/

Gallery Climate Coalition https://galleryclimatecoalition.org/

ROKBOX https://rok-box.com/

Julie’s Bicycle https://juliesbicycle.com/

Serpentine’s General Ecology Program https://www.serpentinegalleries.org/general-ecology/

Does the Art World value the protection of the painting more than that of the planet? Or is it possible to care about both? I think the latter, although there is always room for improvement. In the meantime, protest activity is bound to continue, so check with your insurer for ideas and strategies to protect collections. Additionally, review your carbon footprint and sustainability protocols to see if there are areas for adjustment.

In the meantime, to protect art and the Earth can both be priorities for art organizations that are not mutually exclusive of one another. The creation of art historically was often a form of protest or appreciation of nature, and is worth preserving. And Nature, the very thing that allows art to exist, down to its very pigments and matter, is also worth preserving in the most urgent way.

Brooke Mellen

12/Oct/22

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Should the Warhol Foundation compensate the Photographer Lynn Goldsmith for referencing her photograph of Prince, or is it Fair Use? Two different courts had different opinions on the matter, so this case has moved all the way up to the Supreme Court. The decision will actually be televised on CSPAN today and will have a major impact on Art Law.

The Art World is all ears because the decision will have trickle down effects in terms of Fair Use and many organizations, including Museums, are concerned. There are fears that Artists will not have freedom of expression. But at the same time, when there is so much sharing of images with social media and reuse, should artists get some sort of licensing compensation or attribution? Especially when artist’s who derive from their work make upwards of millions of dollars?

Art Peritus will watch this case closely to determine if the decision has any impact on value for contemporary works of art.

To read more about the case read the article by Nina Totenberg in NPR: https://www.npr.org/2022/10/12/1127508725/prince-andy-warhol-supreme-court-copyright

Image Reference: A portrait of Prince taken by Lynn Goldsmith (left) in 1981 and 16 silk-screened images Andy Warhol later created using the photo as a reference. Courtesy Collection of the Supreme Court of the United States

Brooke Mellen

06/Oct/22

A recent article from ARTnews on “The Great Wealth Transfer” takes a forward look at the implications of the impending transfer of wealth (including art) from the Boomer generation to Gen X and Millennials. In the article, the consensus from Sara McDaniel with Morgan Stanley seems to be that children may not want to take on their parents’ art collections due to differences in taste. Sara recommends the best option for art collectors is to sell a collection before passing, or gift it to an institution.

An accurate appraisal and audit of collections will make assessing these options much simpler. Art Peritus has assisted countless private clients by providing certified appraisals, organizing art collections into management systems, and with preparing estate planning appraisals for inheritance tax and wealth transfer purposes.

One recent example of an Art Peritus Project included appraising an Estate from a High Net Worth collector with over 15,000 objects purchased from all over the world. The art and collectibles ranged in age from antiquity to the 20th Century. The works were valued any where from $5 to $5 million USD.

The project came with many challenges and nuances that we were ready to tackle due to years of experience in handling similar situations including:

Many items were packed away in boxes, with very little room to maneuver.
There were no pre-exiting inventory or appraisals.
Our busy client had very few receipts.
We were only given access to the collection over 10 days.
Only 1,500 art objects were visible during the first 5 days of the appraisal project. The rest were seen 2 months before project completion
The collection included some pieces in very complicated collecting categories with very few ‘qualified’ specialists recognized by the IRS/USPAP
The project came to us during the Covid Pandemic, so we were conscious of health requirements.

Despite the challenges presented in the appraisal of this private art collection, we were able to complete the project to the satisfaction of the client. The steps to completion involved the following:

Art Peritus employed 22 certified appraisers from our network of vetted specialists.
The Estate’s Trust required a “step-up in basis” appraisal for tax purposes. This occurs when the price of an inherited asset on the date of the decedent’s death is above its original purchase price. The tax code allows for the raising of the cost basis to the higher price, minimizing the capital gains taxes owed if the asset is sold later.
We established a threshold of value so that the Trust wasn’t paying for unnecessary work from us on objects valued below $500. We always consider our client’s budget.
We narrowed down the list of objects to approximately 5,000 items for the report.
We provided full comparables for any work with a FMV (fair market value) over $5,000
The Trust now has access to the collection in our database to decide how they want to handle deaccession in the future.

Art Peritus has the resources and experience to take on appraisal and art collection management projects of any size with our roster of specialists, project oriented staff and specialized database. What may seem like a daunting task comes together seamlessly with the right resources and art project management experience.

Brooke Mellen

06/Oct/22

Have you heard the news? A Blue-and-White Dragon vase just sold for $7.5 Million—more than 4,000 times its $1,900 estimate according to artnet. “It exceeds the price of Napoleon’s saber!” said the flabbergasted French auctioneer who sold it.

According to the article by Caroline Goldstein, “The tianqiuping-style vase, featuring intricate blue designs of dragons and whorls on a white ground, was consigned by a woman who had never even seen the 21-inch-tall object. She had simply arranged for it to be sold from her late mother’s estate at the France-based Osenat auction house in Fontainebleau, France, about 40 miles from Paris.”

We asked Paul J. Fisher, Director of Appraisals and Business Development for Art Peritus, for an opinion on the matter. He recalled a similar story with the Qianlong vase that fetched £53.1M at auction in 2010, but as many will remember this vase was subsequently never paid for.

In regards to the Dragon vase bidding war, Paul says this occurs more frequently than might be expected. He commented:

“This remarkable sale shows the ongoing demand for important works, and it repeats the age old pattern of sellers not always knowing what they have. Advising private clients on the value of their property, however esoteric, is Art Peritus’ specialty.”

Curious to know what you have? Contact us for a consult at info@artperitus.com.

For more details on the saga of the Qianlong vase click here: https://en.thevalue.com/articles/exclusive-leak-sothebys-hong-kong-2018-qianlong-yellow-ground-reticulated-yangcai-vase-2010-bainbridge

Read about the Dragon Vase here: https://news.artnet.com/market/chinese-dragon-vase-unexpected-sale-8-million-2185468

Brooke Mellen

02/Aug/22

As part of our full suite of Art Services, we are pleased to offer this remarkable Kota figure for purchase via the Art Peritus | Selects Online Gallery. In the late 19th century, the Kota people created reliquary figures known as “mbulu ngulu” to act as guardians to protect the remains of their family ancestors. Although no two figures are the same, they all hail from the Gabon region of Africa and share distinctive elements- flattened forms and figurative characteristics that are stylized to the verge of abstraction.

Carved in wood, the human face and head is enlarged and exaggerated in a geometric form that rises above its carved neck and smaller open lozenge body. The front of the figure is covered in copper and brass, metals that were scarce and as highly valued as gold in nineteenth century Gabon. The metals were hammered with decorative geometric patterns and motifs, and were kept shiny to be as reflective, symbolic of water and the spiritual other side.

These sculptural guards were originally attached above a basket holding the remains, acting as a mystical connection between the living and the dead. As the people of Gabon converted to Christianity over the 18th and 19th centuries, missionaries and colonials began to collect these figures. Today, most of these sculptures can be found in museums and private collections in Europe and North America.

Origin: Gabon
Period: 19th Century
Materials: Wood, brass and copper

Find purchase details here: Kota Reliquary Figure.

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Art Peritus Launches AP Selects to Bring More Antiques & Design to Market

Discover More From Art Peritus Selects on Incollect

Read original interview on Incollect

Art Peritus Art Industry Spotlight: Katja Zigerlig of Berkley One

Lessons Learned About Climate and Art from the Van Gogh Soup Can Protest

The Supreme Court to Decide on Andy Warhol Foundation & Lynn Goldsmith Matter

The Great Wealth Transfer: Trust & Estate Appraisals

Our Thoughts on The Blue-and-White Dragon Vase Valuation

Art Peritus Selects Feature: Gabon Kota Reliquary Tribal Art

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