Client Profiles

Client Profiles — Five Principal Art Appraisal Engagements

Different collectors, institutions, tax professionals and international buyers require different forms of independent art appraisal. These five engagement profiles illustrate how A2Z Valuers applies market knowledge, statutory valuation principles, provenance research and Government Approved Valuer expertise to real-world art appraisal requirements across India and internationally.

01 COLLECTOR

Active Collector

The Active Collector Building a PAG Portfolio

A Delhi-based HNW collector who has been acquiring Progressive Artists’ Group (PAG) works for 15 years. The collection includes a major Husain, two Souzas, a Raza Bindu, and several works by second-generation modernists.

Engagement Scope

Annual insurance replacement cost appraisal updating the floater policy schedule.
Section 55(2)(b) retrospective FMV as on 1 April 2001 for two works acquired in the late 1990s and being considered for sale.
Pre-sale appraisal for the Husain being considered for the next AstaGuru Indian Modernism and Masters sale.

02 ESTATE

Estate Executor

The Estate Executor — From Collection to Probate Record

The executor of a Mumbai collector’s estate, which includes an extensive collection of 20th-century Indian art including Company School paintings, colonial-era photographs, PAG works and contemporary Indian pieces.

Engagement Scope

Complete physical inventory and identification of the collection.
Attribution assessment for works with uncertain documentation.
AATA status determination for colonial-era and historical works.
FMV at the date of death for each work.
Complete estate documentation package for probate proceedings.

03 DONATION

Institutional Donation

The Institution Making a Donation Acquisition

The NGMA is negotiating the acquisition of a significant work by a second-generation Indian modernist, offered as a Section 80G donation by a private collector.

Engagement Scope

Independent FMV appraisal at the donation date.
Assessment supporting the institution’s acquisition criteria.
Documentation for the collector’s Section 80G deduction claim.
Contemporaneous donation appraisal prepared at the appropriate valuation date.

04 TAX

Chartered Accountant

The CA Managing an Art Capital Gain

A Chartered Accountant whose client sold a significant Raza painting at Saffronart during the year and requires a documented retrospective valuation and capital gain position.

Engagement Scope

Capital gain computation based on the Section 55(2)(b) FMV as on 1 April 2001.
Verification that the work was a capital asset and not stock-in-trade.
Rule 11UA format certificate dated as at 1 April 2001.
Retrospective appraisal supported by market comparables from the 2001 Saffronart and Christie’s records for comparable Raza works.

05 INTERNATIONAL

International Collector

The International Collector Acquiring in India

A Singapore-based NRI collector is bidding on a significant Gaitonde canvas at Christie’s. Before bidding, the collector commissions A2Z Valuers for independent acquisition due diligence.

Engagement Scope

Independent confirmation of the FMV range.
AATA status determination to establish whether the work can be exported.
Provenance research review.
Condition assessment based on the Christie’s public exhibition.
Review confirming the Christie’s estimate was within the independent valuation range.
Assessment confirming the work, being post-1924, is not an antiquity and may be exported without restriction, based on the stated facts.
Documentation of a clean gallery and auction provenance chain back to the 1990s.

Independent • Government Approved • PAN India

Need an Independent Art Appraisal?

Discuss your collection, transaction, tax, insurance, estate, donation or acquisition requirement with A2Z Valuers.

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