For many appraisers November is an insane time when you almost dread the ringing of the phone knowing that more work is on the way. Clients are planning their year end financial strategy that in the past included charitable donations. Understandably often the client wanted to know the values before the gift was promised to the museum. So it would be a scramble to get all this done in time for the appraiser, client, and museum all to sign the 8283 to complete the deal. Of course often a great of time goes into making that moment happen. This year with a struggling economy the gifts are still there but not to the degree as in the past. Not surprisingly, though, pledges made when times were better are still being met by some benefactors.
But we are very busy with clients and friends that want to know where they stand financially. This sort of work has continued all year and there is no end in sight to these assignments. With bad economies some collectors must sell, bringing some nice things to both the private and public markets. It is a great time to buy; and the vultures will do well in this climate. Let's hope this process is not witnessed close to home. As always we try to keep a close eye on the markets, so if we can be of assistance, let us know.. JB
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