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Role in Inheritance Assessment
Is there an inheritance coming up and you are unsure of the value of the property? A professional appraisal plays a crucial role in preventing disputes and finding fair solutions. Do you need assistance with preparing an appraisal? Contact us for a non-binding consultation.
Professional appraisals are essential for safeguarding inheritance claims and ensuring a fair distribution of art objects in the event of inheritance. This minimises the risk of disputes and financial losses.
The specialisation of auction houses like VAN HAM, Grisebach, and Zemanek-Münster enables a more precise valuation. Historia’s consolidation and expansion demonstrate the importance of market penetration.
The correct valuation of art objects optimises inheritance tax and avoids disputes with the tax office. A well-founded valuation by independent experts is crucial.
In cases of inheritance, valuations play a crucial role, especially when it comes to assessing works of art. A professional valuation not only serves the determination of market value but also protects heirs from financial losses. In the context of art auctions, where prices can vary greatly, a well-founded valuation is essential. The role of valuations in inheritance is therefore of central importance to avoid disputes and ensure a fair distribution of the estate.
The importance of valuations in the inheritance process
A valuation in the case of inheritance is more than just an estimate; it is a detailed analysis of the artwork that objectively and comprehensibly presents its value. This is particularly important as art objects often hold significant emotional value for the heirs, which does not always align with the actual market value. A valuation helps to bridge this gap and create a fair basis for the distribution of the estate. Auction houses play an important role here, as they are considered experts in art valuation and their auction results are often used as references for valuations.
Auction houses as experts in art valuation
Auction houses such as VAN HAM, Grisebach, and Neumeister have many years of experience and expertise in the art market. Their evaluations are based on comprehensive market analyses and knowledge of current trends. This expertise is particularly valuable when it comes to determining the value of artworks within an inheritance. The auction results of these houses often serve as a basis for valuations, as they reflect a real market value. However, it's important to note that an auction result does not always correspond to the actual value, as it can depend on various factors such as demand and the condition of the artwork. Our page on proper value assessment offers further information.
The German art market is heavily focused on the regions of Berlin and Munich. These two cities host the majority of the major auction houses and thus play a central role in the valuation of art objects in inheritance cases. The dominance of Berlin and Munich is reflected in the number of auction houses based there and their turnover volumes. This also impacts the role of appraisals in inheritance, as the expertise and market knowledge of these regions are often crucial for valuation. The Deutsche Wirtschafts Nachrichten reports on the competition between the two cities.
Regional Dynamics and Market Concentration
Seven and eight member houses of the Bundesverband deutscher Kunstversteigerer e.V. are located in Berlin and Munich, respectively. This concentration indicates a strong regional influence on the success of auction houses. Membership in the Bundesverband also implies adherence to certain quality criteria, which distinguishes these houses from other providers. This is particularly relevant in the context of inheritance appraisals, as the quality and expertise of the auction house have a direct impact on the accuracy of the valuation. Further information on the benefits of certified appraisals can be found here.
Turnover Volume and Quality Standards
Some auction houses belonging to the Bundesverband generate annual revenues in the mid-double-digit million range. This illustrates the economic significance of these companies and their influence on the art market. The quality standards associated with membership in the Bundesverband ensure a certain level of professionalism and expertise in the valuation of art objects. This is especially important in the context of inheritances, as a correct and verifiable valuation is crucial to avoid disputes and ensure a fair distribution of the estate. Membership in the Bundesverband deutscher Kunstversteigerer e.V. implies adherence to specific quality criteria, which distinguishes these houses from others that may conduct transactions of lower value (e.g., the sale of items for just five euros).
German auction houses, often family-run SMEs, have shown remarkable resilience during the COVID-19 pandemic. By adapting to online and remote bidding formats, they managed to maintain and even expand their operations. This adaptability is a vital factor for the stability of the art market and the continuity of valuing artefacts in cases of inheritance. The ability to adjust to changing market conditions is a testament to the professionalism and expertise of these companies. An independent appraisal can help you realistically assess the value of your artefacts, as described on our independent appraisals page.
Coping with the COVID-19 Pandemic
The auction house "Arnold" in Frankfurt achieved a high sales rate of 90-92% during the pandemic, which illustrates the potential for strong performance even in challenging times. This demonstrates that adapting to online formats and focusing on customer preferences can also be successful during crises. The ability to service the art market even under difficult conditions is an important factor for the stability of the market and the continuity of valuing artefacts in cases of inheritance. Kunstplaza offers further insights into the appeal of art auctions.
Pricing and Customer Focus
The price of gold has only a limited influence on the art market. Auction houses are more oriented towards customer preferences rather than prevailing market prices. This indicates a focus on collector demand and aesthetic value. Buyers are increasingly concentrating on high-quality objects and, due to online resources, are better informed, suggesting a shift towards informed and discerning collectors. The role of appraisals in inheritance becomes even more important, as a well-founded valuation forms the basis for a fair distribution of the estate.
The auction houses VAN HAM, Grisebach, Neumeister, and Quittenbaum are distinguished by their specialisation in certain art areas and their comprehensive services. This specialisation allows them to build high expertise in their respective fields and offer their clients informed advice and valuation. This is especially important in the context of appraisals in the event of inheritance, as specialised expertise ensures a more accurate and reliable evaluation. Therefore, the choice of the right auction house for the valuation of art objects in the event of inheritance is heavily dependent on the type of art objects and the expertise of the respective auction house.
VAN HAM: Variety and Customer Service
VAN HAM segments its auctions into categories such as Art & Antiquities, Jewellery, Watches, Modern, Post-War, Contemporary. This indicates a targeted approach to attract specific collector bases and maximise value based on expertise. The simultaneous offering of live and online-only auctions ('ONLINE ONLY') demonstrates a hybrid model tailored to different buyer preferences and expands market reach. The inclusion of an 'Art Store', 'Art Estate Artists', 'Art Publications', and 'Bibliophile Rarities' suggests diversified revenue streams that potentially foster a broader relationship with clients and provide accessible entry points for new collectors.
Grisebach: Privacy and Transparency
The website of Grisebach uses cookies for essential functions, analytics, social media integration, and targeted marketing. A crucial aspect for users is the explicit consent required for data processing in the USA by services such as Google Analytics, Facebook, Twitter, YouTube, and Pinterest, as highlighted in Art. 49 Para. 1 Sentence 1 lit. a of the GDPR. The website emphasises the risk of data processing by US authorities without adequate legal remedies. The site contains contact information (address, phone, fax) and a newsletter signup option.
Neumeister: Tradition and Service
The auction house Neumeister offers a range of auction categories, including Old Art, Modern Art, and Jewellery. They hold several auctions throughout the year (March, July, September). Unsold items can be acquired at the start or limit price. A newsletter subscription is available. The physical location is in Munich, Germany, with the provided contact information.
Quittenbaum: Specialisation and Locations
Quittenbaum Art Auctions specialises in Art Nouveau, Art Deco, Design (Bauhaus to Contemporary), Murano Glass, Old Masters, Modern Art, and 20th/21st Century Art and Jewellery (including pieces designed by artists). They hold four auctions annually and have a physical presence in Munich and Düsseldorf. The major upcoming auctions in March 2025 focus on International Design, Murano Glass, and Modern Art.
Zemanek-Münster and Historia are examples of auction houses that specialise in certain niches, thereby achieving high market penetration. This specialisation allows them to develop deep expertise in their respective fields and offer their clients well-informed advice and valuations. This is particularly important in the context of appraisals in cases of inheritance, as specialised expertise ensures a more accurate and reliable valuation. The choice of the right auction house for valuing art objects in the event of inheritance thus largely depends on the type of art objects and the expertise of the respective auction house.
Zemanek-Münster: Tribal Art Expertise
Zemanek-Münster positions itself as a specialist in Tribal Art (Africa, Oceania, Asia, America), distinguishing itself from general auction houses. It emphasises its international reach, even though it is based outside the major art centres (Würzburg), which suggests a strategy to service a global niche market from a more cost-effective location. The auction house hosts four auctions annually, offering around 2000 artworks, indicating a considerable throughput and established operational capacity. Membership in the Bundesverband deutscher Kunstversteigerer e.V. (BdK) signals a certain level of professional recognition and adherence to industry standards within Germany.
Historia: Consolidation and Expansion
Historia boasts 40 years of experience and over 320 auctions, indicative of a mature and established presence. Their strategic acquisitions of over 20 auction houses and a network of over 300,000 collectors suggest a significant market consolidation strategy and a robust client base. The average sales rate of over 80% indicates effective curation and valuation. The company's expansion since 2017, building on the foundation of Auctionata, and collaboration with international platforms in the USA, UK, France, and China underline the focus on global market penetration. The team includes experts in various fields such as porcelain, bronzes, furniture, militaria, jewellery, and Asian art, indicating a wide range of expertise.
Experts play a crucial role in the appraisal of art objects. They are able to provide an objective and well-founded evaluation that is not influenced by the interests of the auction house or the heirs. This is particularly important to avoid disputes and ensure a fair distribution of the inheritance. The role of appraisals in inheritance is thus strengthened by the expertise and independence of the experts. However, it is important to distinguish between independent experts and auction house experts, as they may have different perspectives and interests. More information on the importance of appraisals can be found here.
The Role of Experts
Independent experts are not affiliated with a particular auction house and can therefore provide an unbiased evaluation. They have extensive education and experience in the art market and are capable of determining the value of art objects using various methods. Common methods include the comparative value method, the earnings value method, and the tangible asset method. The choice of method depends on the type of art object and the available information. The property valuation from Auctoa offers you professional support.
Challenges in Appraisal
One of the greatest challenges in the appraisal of art objects is the identification of forgeries and correct attribution. Forgeries can significantly reduce the value of an art object, while incorrect attribution can lead to an inaccurate valuation. Additionally, the condition and provenance of an art object have a significant impact on its value. An art object with complete provenance and in good condition is generally more valuable than a comparable art object without provenance or in poor condition. The legal aspects play an important role in this regard.
The treatment of artworks under inheritance tax law is a complex issue that requires a correct valuation and knowledge of the legal framework. An incorrect valuation can lead to disputes with the tax office and result in an unnecessarily high tax burden. Therefore, the role of expert opinions in inheritance is also of great importance from a tax perspective. It is important to be informed about allowances and tax rates and, if necessary, to take advantage of special regulations for art collections. Our services assist you in this matter.
Inheritance Tax Treatment of Artworks
For artworks, the general allowances and tax rates apply within the scope of inheritance tax. However, there are also special regulations for art collections that can be treated favorably for tax purposes under certain conditions. For instance, art collections made accessible to the public can be exempted from inheritance tax. It is important to be informed about these special regulations and, if necessary, to apply for tax exemption. Property valuation by Auctoa offers you professional support.
The Importance of Accurate Valuation for Inheritance Tax
An accurate valuation of artworks is crucial to avoiding disputes with the tax office and optimizing the tax burden. The tax office may question the valuation by the heirs and carry out its own assessment. This can lead to substantial back payments and interest. A well-founded valuation by an independent expert can help to avoid such disputes and ensure fair taxation. The legal aspects play an important role here.
In summary, professional appraisals are essential for estates to safeguard heirs, avoid poor decisions, and ensure a fair distribution of the inheritance. The role of appraisals in inheritance is thus crucial for a smooth and fair inheritance process. It is important to be informed about the various aspects of valuing art objects and the legal frameworks to make the best possible decision. The services provided by Auctoa assist you in this.
The Necessity of Professional Appraisals in Inheritances
Professional appraisals provide an objective and well-founded basis for the distribution of an inheritance. They help to realistically assess the value of art objects and avoid disputes between heirs. Additionally, they can help to optimize the tax burden and ensure fair taxation. The importance of a fair distribution of inheritance cannot be overstated.
Future Trends in the Art Market and Their Influence on Appraisals
Digitalisation and the increasing significance of online valuations will also influence the art market and the appraisal process. In the future, online valuations and digital tools will play a larger role in determining the value of art objects. Provenance research will also gain importance, as it can help confirm the authenticity and value of an art piece. Auctoa's real estate appraisal offers you professional support.
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The Bundesfinanzhof provides decisions and information on tax law, relevant for inheritance issues.
The Deutsche Bank presents a study on inheritance and succession in the year 2024.
The Kanzlei Herfurtner provides information about the valuation of artworks in estates.
ROSE & PARTNER covers art law, inheritance, taxes, and copyright.
The Institut für Demoskopie Allensbach offers studies and reports on social and economic topics.
What role does an appraisal play in the distribution of an inheritance with art objects?
An appraisal serves as an objective basis for determining the market value of art objects to ensure a fair and equitable distribution among heirs and to avoid disputes.
How does an appraisal assist in optimising inheritance tax?
A correct appraisal ensures that the value of art objects is stated in a realistic and comprehensible manner, helping to avoid disputes with the tax office and optimise the tax burden.
Which auction houses in Germany are relevant for art appraisals in the case of inheritance?
Auction houses such as VAN HAM, Grisebach, Neumeister, and Quittenbaum have many years of experience and expertise in the art market and provide well-founded valuations of art objects in the context of inheritance.
Why is the specialisation of an auction house important when valuing art objects?
The specialisation of an auction house allows for a more accurate and reliable valuation, as the experts have deeper knowledge in their respective art field.
How have online strategies helped auction houses overcome crises?
By adapting to online and remote bidding formats, auction houses were able to maintain and even expand their operations, ensuring the stability of the art market and the continuity of appraisals of art objects in the case of inheritance.
What role do experts play in the appraisal of art objects in inheritance cases?
Experts provide an objective and sound appraisal that is not influenced by the interests of the auction house or the heirs, to avoid disputes and ensure a fair distribution of the inheritance.
What are the benefits of an auction house being a member of the Federal Association of German Art Auctioneers?
Membership in the federal association implies compliance with certain quality criteria, distinguishing these houses from other providers and ensuring greater professionalism and expertise in the appraisal of art objects.
How does the regional concentration of the art market in Berlin and Munich influence the role of appraisals in the case of inheritance?
The dominance of Berlin and Munich is reflected in the number of auction houses located there and their turnover volume, making the expertise and market knowledge of these regions crucial for valuation.
