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Gallery takes steps to offer valuation service
Friday, July 7, 2006
The National Gallery’s Anne Goulden (l) and friend of the Gallery Rita Estevanovich discuss the value of a painting.
The National Gallery of the Cayman Islands is working toward becoming an associate member of the American Society of Appraisers, an organization of appraisal professionals and others interested in the appraisal profession in order to be able to offer an essential valuation service for the art world by next year.
International in structure, the ASA is self-supporting and independent and is the oldest and only major appraisal organization representing all of the disciplines of appraisal specialists and the gallery is on its way through a member of its staff.
The society originated in 1936 and is recognised by the Royal Institute of Chartered Surveyors (RICS), the well-regarded U.K professional valuation body in the UK.
Currently there seems to be no qualified personal property valuation professionals resident in the Cayman Islands.
Personal property concerns fine arts, antiques, crafts, books, audiovisual media recordings, silver and other metals, decorative arts, numismatics and other general residential personal effects.
The plan is for National Gallery staff to sit exams on courses to learn of general valuation theory and principles that influence valuation, historical antecedents of modern appraisal practice, appraisal terminology, the relationship between valuation theory and market economics and statistics, researching primary and secondary sources, research design and organization, interpretation of catalog information and prices, components of a written appraisal report, valuing property for insurance scheduling, legal precedents, development of expert witness skills, and ethical and professional standards.
Membership with the ASA would enable the National Gallery to start working toward becoming a candidate for the designation of accredited member, and to start offering the service of formal appraisals for art and antiques in the Cayman Islands, a service it is hoping to be able to offer by early 2007.
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