Legal and Ethical Aspects of Appraising
Online - On Demand
Course Registration $350.00 Associates, Candidates, and Members
The legal aspects of appraising have become crucial to the profession. At its highest levels, appraising requires in-depth knowledge of key issues, including clear title (so often compromised by stolen and looted art), the legal framework protecting cultural property, IRS considerations, determination of authenticity, appropriate marketplace (retail market and tax shelters), volume discounts, the interaction of case law and the Uniform Standards of Professional Appraisal Practice (USPAP), and legal aspects of damage and loss appraisals. You will learn about current tax law as it applies to the valuation of fine and decorative arts for estate, inheritance, gift, and income tax purposes, as well as for donations to charitable institutions. This course includes analysis of prominent cases that illustrate compelling legal considerations connected with valuing modern and contemporary art, including that of Warhol, O’Keeffe, Rothko, and Calder.
Instructor: Patricia Dillon, AAA
Patricia Dillon is president of Putnam Art Advisors & Consultants, Inc., a multi-faceted art advisory firm serving private, corporate, and not for profit clients assisting in the purchase, sale, and appraisal of fine and decorative arts. Additionally, she often consults and advises artists, artist’s estates and conservators. Patricia has had a lifelong interest in American painting and material culture and has studied at New York University, Columbia University, Parsons School of Design, Cooper-Hewitt, and Sotheby’s. Previously, Patricia was a litigator who tried dozens of cases to verdict including matters involving authenticity and value in fine and decorative arts. She also taught at SUNY Purchase for a number of years.