Three local art experts share why appraisals will benefit collectors in the long run.- Artists & Galleries section by Allison Hata
Tayler Murphy, fine art appraiser at JoAnne Artman Gallery:
An appraiser must follow a specific set of guidelines, which are updated every two years; however, actual valuation is an art in itself. Most importantly, the intended use for the appraisal and the appropriate market helps in concluding a value. Other factors to consider for valuation are condition of the artwork, provenance and comparable sales. Higher values are reflected by the current trends in the market, so what is most currently coveted in the art world is where you will find higher values.
Appraisals give insight into the ever-changing resale markets and can even help you make future purchasing decisions. [For insurance purposes], we usually recommend that clients individually schedule on their policy all art valued at $2,000 and above. Insurance appraisal establishes the cost of replacing an item at a retail establishment if it were to be lost or damaged, also known as the “retail replacement value.” For succession planning purposes, what you’d really want to know is the resale value of your collection, [and] how much you would likely realize if you were to sell the pieces. If it’s been several years since your last appraisal, you’ll want to have an appraiser re-evaluate the market to make sure you still have adequate coverage. On the other hand, if the market for your work has really decreased over the years, you want to make sure you’re not paying too much for coverage you don’t need. We see works of art increase in value all the time—the art market can be fairly volatile—and it’s important to establish that you’re insured at a level that will enable you to walk into a gallery and buy a comparable replacement painting if yours was to ever be lost or irreparably damaged.
Art appraisals are an important part of owning art, and for protecting your art investment. It is important to have a current art appraisal for insurance purposes, as well as estate planning, selling your art or making a charitable donation. There are several types of art appraisals—be sure that you know the difference and get the right type of appraisal to fit your needs. Appraisals should be generated by a professional who has been tested and certified by a nationally recognized organization (like the American Society of Appraisers).
Just Do It
LCAD students conceptualize digital sports in a sponsored lab. As a complement to Laguna College of Art & Design’s new graphic design track in action sports, the school partnered with Nike to offer a small group of students the opportunity to participate in a sponsored studio lab.
One of only four colleges in the world to be selected for this initiative, LCAD’s class of 20 students focused on how digital media is changing sports. “They were not asked to create an object, but really look at the bigger picture of the concept and the idea of digital sports,” says Jack Lew, vice president of visual communication at LCAD. “It’s been very exciting for the students.”
On May 3, the Nike team came to the LCAD campus to critique the final projects, also selecting one student, Amber Jepsen, to spend the summer in Portland as a Nike intern.
This project leads the way for a new partnership for LCAD later this year. “In fall we will do a honors lab with Vans,” says Catharin Eure, chair of graphic design at LCAD. “The student will work on their own footwear design in the educational process with input and direction from Vans creative and art directors.”
Lust for Life Music and art come together to benefit local and global charities
On the first Thursday of every month, you’ll find Christiana Lewis and Tracy Danielle Robinson celebrating art and music with their Lust for Life productions. In addition to regularly showcasing their own talents—Christiana’s as a painter, and Tracy’s as a singer—they make it a point to shine the spotlight on emerging musicians, artists and fashion designers, as well as support a charitable cause of personal significance. “We use our voices to help other people,” Christiana explains.
Held at different locations each month, the events feature live art demonstrations and musical performances, plus refreshments and opportunities to give back to nonprofit organizations. “We have enhanced our love for art, finding art in everything,” Tracy says. “Our goal is to blend the arts, music, local businesses and dining all together in order to boost the local economy.” (949-637-7846; colorfulsouls.com)
The recently opened A.I.R. Laguna (Artists In Recovery) takes a unique twist on showcasing artwork. Co-owners Jerry and Nancy Thompson and Christine Green built the gallery with hopes of providing a place for people to keep their addictions at bay and show off the fruits of their creativity. All artists displaying at A.I.R. Laguna are in recovery, having created works that range from mixed media wall art to oil paintings. (658 S. Coast Hwy.)
Suspended from ceilings on transparent Plexiglas, the paintings from the Icelandic artist in “Bjarni Sigurbjörnsson: Spinal Sweep” create a simultaneously fleeting and monumental moment in their chaotic compositions. The exhibition will be on display through June 30 at S Cube Gallery. (266 Forest Ave.; 949-715-4593; scubegallery.com)
Laguna College of Art and Design
LCAD presents Collector’s Choice, its annual fundraiser that showcases original artwork donated by local and regional professional artists. The event takes place June 9 at the college and will feature a cocktail reception and dinner, plus a live and silent auction. (2222 Laguna Canyon Rd.; 949-376-6000; lcad.edu)
Laguna Art Museum
The retrospective exhibits “Clarence Hinkle” and “Modern Spirit and the Group of Eight” look back at the local artist’s modernist work dating back to the 1920s. The museum also kicks off its new contemporary art program with artist Peter Bo Rappmund, “ex-pose,” which features rotating exhibitions focusing on one emerging artist. All exhibitions are on display from June 10 – Oct. 7. (307 Cliff Dr.; 949-494-8971; lagunaartmuseum.org)
Sandstone Gallery features figurative paintings and collages by Marge Chapman in “It Figures” and monotypes by Anne Moore in “Beneath the Surface,” on exhibit from June 6 – July 2. Also on display are other works from contemporary artists Anne Marie DeJony, K.L. Heagen, Howard Hitchcock, Mada Leach and Lynn Welker. (384A N. Coast Hwy.; 949-497-6775; sandstonegallery.com)
Explore childhood fables and storybook characters through contemporary art from Patrick Maisano in the “Fairy Tales and Monsters” exhibit. Also included in the exhibit are additional pieces from Shannon Richardson, all on display at JoAnne Artman Gallery from June 7 – 30, with an artists’ reception on opening night from 6 – 9 p.m. (326 N. Coast Hwy.; 949-510-5481; joanneartmangallery.com)
Ritz-Carlton Laguna Niguel
Palm Springs artist Charley Akers unveils a tribute to Festival of Arts, featuring a photo-illustrative exhibit with unique black-and-white portraits capturing the essence of each artist and their craft. The exhibit, which runs at the resort through Aug. 31, includes artists such as Russell Jacques, Hanna Harris, Tom Swimm, Paul Bond, Sandra Jones Campbell, Michael Ezzell, Adam Neely, Gary Monji, Fred Stodder, Marcus Thesing and Pat Sparkuhl. (One Ritz Carlton Dr., Dana Point; 949-240-2000; charleyakersphoto.com) LBM