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.

David Shapiro Fine Art appraises art for collateral loans both for banks and non-bank (specialty) lenders, with several hundred works appraised annually for such purposes.

Below is a selection of the many artists whose works David Shapiro Fine Art has appraised for collateral loan purposes:

Josef Albers, Lucas Arruda, John Baldessari, Hernan Bas, Jean-Michel Basquiat, Romare Bearden, Thomas Hart Benton, Amoako Boafo, Fernando Botero, Cecily Brown, Alexander Calder, Maurizio Cattelan, Robert Colescott, Noah Davis, Willem de Kooning, Lynne Drexler, Nicole Eisenman, Urs Fischer, Dan Flavin, Lucio Fontana, Derek Fordjour, Sam Francis, Charles Gaines, Theaster Gates, Adrian Ghenie, Sam Gilliam, Katharina Grosse, Keith Haring, Damien Hirst, Shara Hughes, M.F. Husain, Rashid Johnson, KAWS, Anselm Kiefer, Jeff Koons, Barbara Kruger, Wifredo Lam, Jacob Lawrence, Lee Ufan, Simone Leigh, Eddie Martinez, Agnes Martin, Henri Matisse, Roberto Matta, Beatriz Milhazes, Joan Mitchell, Oscar Murillo, Yoshitomo Nara, Kenneth Noland, Albert Oehlen, Chris Ofili, Georgia O’Keeffe, Nicolas Party, Adam Pendleton, Pablo Picasso, Michelangelo Pistoletto, Sigmar Polke, Ganesh Pyne, Neo Rauch, Charles Ray, Gerhard Richter, Diego Rivera, James Rosenquist, David Salle, Peter Saul, Sterling Ruby, Ed Ruscha, Julian Schnabel, David Alfaro Siqueiros, Bob Thompson, Andy Warhol, Stanley Whitney, Issy Wood, Jonas Wood, Christopher Wool, Lynette Yiadom-Boakye, Flora Yukhnovich, Charles White, and Zheng Fanzhi