Assessing the value of a work of art is a tricky business.
The value isn’t only important to the collector or buyer, it is also significant for insurers, in damage proceedings, insolvency, inheritance and tax law matters.
Paintings and sculptures are generally unique works, a long time may have passed since they were last bought or sold or they may never have been traded at all. This means that often their monetary value isn’t apparent.
Nevertheless, a value often has to be assessed and determined.
How this is done is described by Dr. Georg Huber, LL.M. and MMag. Barbara Rainer in an article in the magazine Kaleidoscope (edition 01.2016 dar, published by Milionart).
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