Appraisals

APPRAISAL OVERVIEW
Banks Fine Art,LLC. offers extensive appraisal services for insurance purposes (establishing insurance and/or damage claims), estate planning, charitable donation, tax purposes, divorce settlements or simply plain curiosity.  Robert H. Banks, owner of Banks Fine Art,LLC. is an independent appraiser with a wide range of experience and knowledge to value your work of art.  Mr. Banks is a certified member of the Appraiser’s Association of America (AAA), and was elected to the 2006 National Board of Directors for this organization.

TRUST AND ESTATES

Banks Fine Art, LLC. offers appraisal services for Trusts and Estates.  Since 1980, owner, Robert H. Banks, has assisted numerous clients with regard to their specific requests for Trusts and Estates.

All appraisals are confidential and are prepared in strict adherence to ethical standards set forth by the International Society of Appraisers (ISA), the Appraiser’s Association of America (AAA), and are USPAP compliant. In addition to appraising your work of art, Banks Fine Art, LLC. offers consultations on valuation and conservation, consignment services, and can provide expert witness testimony.

Please use the following guidelines for questions concerning your artwork:  
 
WHAT IS MY ART WORTH?

Do you have original artwork?  If you are certain you have an original oil, watercolor or sculpture or if you have a signed and/or numbered work by the artist, please proceed to Step2.

Otherwise, if you are unsure, it is suggested you allow a local frame shop or your local art gallery assist you to determine if you actually have an original work versus a reproduction.  Prints and reproductions may be referred to another certified appraiser.

Identify the artist.  Look for a legible signature or notation on the artwork, including the back, and the bottom if a sculpture.  If you are unable to determine the artist’s name, but the quality of the work is evident, you may provide photos and/or jpegs to Banks Fine Art, LLC. or mjm@banksfineart.com

Provenance.  Knowing the lineage of ownership and any possession history adds to the value of your artwork (although it is rare to find older works of art with complete history of ownership).

Is the artist listed on the Internet?  Often, artists may be listed on the Internet.  In such a case, you may want to find the broad overview concerning the artist as well as any background information about your artist.  You may discover a register of museums which may list your artist in order to understand where the artist may stand in importance in the art world of museums.  Also, consider any publications, including books and magazines which may make reference to your artist.

Conclusion:  From the indicators listed above, you will have learned to appreciate and enjoy your artwork even more. In addition, you may provide the first step in the process of determining the value of your artwork.  However, please be aware your own research may not be a substitute for the type of formal analysis and appraisal which comes from contacting a certified and qualified professional appraisal service.  
In addition, you should know appraisal results will vary according to the intended purpose of the appraisal.  The two most common purposes of appraisal are “Fair Market Value” (the value typically applied to the donation of an artwork to a qualifying non-profit art institution and “Replacement Value” (which is typically required for insurance purposes).

Of course, there are various other types of appraisal purposes which will define their own appropriate corresponding methodologies.  Only a written report prepared by a qualified professional appraiser may serve as a legal document.

While your own research initiative is admirable and encouraged, Banks Fine Art, LLC. cannot be held responsible for, nor can it validate, the conclusions you or others may have derived.   

Official Appraisal
The official appraisal is an extensive documentation of your work.  It includes a comprehensive analysis of the artist, including history and market valuation in order to determine a true value.  This appraisal will be accepted by official agencies and is necessary for insurance or tax purposes.
Cost: $200/hr,  approximately 2 hours per piece minimum.
Discounts available for multiple works.
ABOUT ROBERT “BOB” BANKS

Professional Experience

1980-Present          Banks Fine Art, LLC. Dallas, Texas
Art Dealer and Appraiser
Robert H. Banks has been dealing in American & European paintings  since 1980 and has over 20 years of experience appraising fine art.  His company, Banks Fine Art, LLC. is a high volume business representing artists worldwide and sells to galleries internationally.  Mr. Banks often purchases artwork overseas and at major auction houses on behalf of private clients and dealers. 
Mr. Banks’ appraisal duties include reviewing, documenting, and valuing art collections.  He has extensive experience in appraising art property for insurance purposes, damage claims, loss claims, divorce/dissolution of property, and for estate tax purposes.  Mr. Banks has appraised most art media including paintings, watercolors, drawings, prints and sculptures.  He is well versed in both American and European art.
Areas of Specialization:
American and European Art, 19th & 20th Century and Modern
Prints, 20th Century and Modern
Sculpture, Modern

Professional Affiliations

1990-Present:
Appraisers Association of America, Inc. (AAA) Certified Member
The highest designation of expertise.
Southwest Regional Representative, 1994-2006 Elected by members of AAA.
Member of the National Board of Directors of AAA, 2006
Elected by members of AAA.
1995-Present
International Society of Appraisers (ISA)
Accredited Member, North Texas Chapter of ISA
This designation was received after successfully completing and being tested in course 101, 102, and 103.  These are courses in valuation science offered by the ISA.  Also completed course 301, Expert Witness Advanced Appraisal Course.

Other Professional Experience
Mr. Banks has written a guidebook titled “How to Buy Art Wisely”, and lectures extensively on purchasing art, the intricacies of the art market and the different mediums available.  He has spoken several times at the National Conference for the Appraisers Association of America, Inc., and is a guest lecturer at Marion Westbrook’s class on antique paintings and furniture in Dallas.  He is listed in Who’s Who in American Art and has made appraisals for Public Television’s The Antiques Roadshow and Good Morning Texas.  Mr. Banks is also a licensed auctioneer and has actively conducted auctions since 1986.