From First Contact to Signed Certificate

The engagement begins by establishing exactly what the appraisal is required to achieve. The purpose, scope and practical requirements are confirmed before the valuation work begins.

• Appraisal purpose confirmed — insurance, Income Tax FMV, estate, donation, pre-sale or acquisition due diligence.
• Number and type of works requiring appraisal.
• Valuation date — current or retrospective.
• Timeline and deadline for the completed certificate.
• Physical location of the works for examination.
• Existing documentation available for review.

Once the scope is established, the engagement is formally documented through a written engagement letter. This establishes the professional framework and independence of the appraisal.

• Scope of work and objects covered.
• Appraisal purpose and applicable standard of value.
• Valuation date.
• Professional fee.
• Turnaround period.
• Confidentiality provisions.
• Independence declaration confirming no contingency fees and no financial interest in the transaction.

Each work is physically examined to establish its physical characteristics, condition, identifying features and supporting photographic record.

• Medium and technique identification.
• Dimension verification.
• Condition assessment covering surface, support, frame and any known treatment history.
• Signature and inscription examination.
• Identification of distinguishing features.
• Photography of the front, back, signature, inscriptions, labels and relevant condition details.
• For collection visits, the examination team visits the collection location — Delhi NCR directly; other cities by arrangement.

The physical examination is followed by art-historical research, attribution assessment and provenance review wherever applicable to the work.

• Attribution assessment through style analysis against the artist's documented body of work.
• Catalogue raisonné search, where applicable.
• Gallery and auction records for the specific work.
• Provenance research through Saffronart, AstaGuru, Christie's and Sotheby's archive records.
• Gallery invoice and certificate review.
• Exhibition record check.
• AATA status determination, where applicable.

The valuation conclusion is developed from relevant market evidence and adjusted for the specific characteristics of the work and the applicable valuation standard.

• Comparable auction and gallery records identified.
• Adjustments for size, period, condition and medium.
• Fair Market Value or Replacement Cost conclusion according to the applicable standard.
• Retrospective market research for past-date valuation assignments.