In changing times, value of artwork also keeps on changing. Given the volatility in the market nowadays, artworks are also seeing volatility in their pricing and it becomes tricky to determine the correct value of art at any point of time. Moreover, presence of damages and its condition also has an impact on the value of artwork, which becomes necessary to look into at the time of sale as well as during insurance.
Appraisal is the process of determining the market value, fair market value as well as replacement value of the artwork in case of Insurance. The valuation of the artwork is a tricky process being based on the combination of the latest auction data, the state of the art market, the quality and subject matter of the work, and finally the condition of the artwork
Meenakshi Devi Singhania is a certified appraiser, appraising the value of artworks for valuation purposes as well as insurance purposes. She is currently on the panel of TATA AIG to conduct appraisal for their clients and prospective Clients.
Audit and Restoration
Most art is made of organic material, which like our bodies deteriorates over time. Thus like our bodies it needs a yearly checkup once a year, in ideal circumstances, so does Art
Artworks face massive value devaluation due to incorrect display or storage
- a) To store and display your artworks in temperatures of 16-25 c, 50-55% humidity.
- b) Spacers on frames to create an air pocket between the wall and the artwork.
- c) Always separate the painting from the glass with a mount board.
- d) Do not expose paintings to direct sunlight or harsh focused lighting.
- e) Never hang an artwork directly under an air conditioner or over a working fireplace.
An Art Audit is a process of checking the condition of the artworks and generating benchmark condition reports. Artwork can experience damages due to number of reasons such as exposure to high humidity, fungus infection, flaking of paint, craquelure, scratches, rubbing marks, tears, etc which can have significant impact on the value of artwork. Through the process of audit, one can exactly come to know about the health conditions of their artwork and take timely intervention to protect the art as well as its value.
Meenakshi Devi Singhania is an experienced Art Auditor, regularly auditing art collections for private individuals as well as galleries, generating timely condition reports and assisting in the process of conservation.
Art Consultancy- Purchase and Sales
Art is a specialized field and even the most experienced of collectors goes through the process of thinking- What is the right Artwork for my taste to buy? Is it value for money? What will be the future of this artwork? Who is a good artist?
Given the current markets where art is now not just a hobby for collection, but a significant medium of investment and saving, it becomes necessary for one to know exactly where they are investing as well as the future of their investment.
Meenakshi Devi Singhania, backed with her vast and unique experience in the field of art, guides the client through the maze of artistic corridors to acquire precious works of art based on their aesthetic requirements, personal choice, and budget as well as investment horizon. She also assists the client in getting the best deals either directly from artists or from galleries.