David Shapiro Fine Art

Art collections are often among the most significant assets in a portfolio, and as such, collectors are increasingly benefitting from the use of their art as collateral for loans. I provide art appraisals for banks and other lending institutions, allowing borrowers to maximize the financial benefits of their collections.

When valuing art for collateralized transactions, the appraisal is typically for Marketable Cash Value (MCV), which is defined by the Appraisers Association of America as “the net value a willing seller realizes after disposing of property in a competitive and open market to a willing buyer. Both the buyer and seller must be reasonably knowledgeable of all relevant facts, and neither being under constraint to buy or sell.” Appraisals for collateralized transactions may also be for Fair Market Value (FMV), “the price that property would sell for on the open market,” if requested.