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For Art Owners

Under taxation law, establishing the value of an artwork may be required for the purposes of insurance, matrimonial and estate planning, or to transfer an artwork from one entity to another.

As the concepts of market and realisable value are distinct, it is important to ensure that when a valuation report is written, the correct methodology is used otherwise the report may be deemed invalid.

Compliant with the SIS Act, Michael has developed a unique valuation report which allows an SMSF to transfer artworks to its members, and may provide other taxation benefits to its members.

As the architect of the 'Save Super Art' campaign which prevented a ban on artwork investment by an SMSF, Michael's expertise on superannuation art law can assist you with:

• Superannuation fund valuations to enable the transfer of artworks to members

• Auction appraisals

• Advice on buying and selling at auction

SUPER FUND SPECIALIST ADVICE
SUPER FUND SPECIALIST ADVICE
INSURANCE APPRAISALS
INSURANCE APPRAISALS
AUCTION APPRAISALS
AUCTION APPRAISALS

Through my accountant I was referred to Michael to assist with the transfer of three Polly Courtin paintings from my super fund to me because I did not want to pay for storage of the works after 30 June this year. Michael produced a valuation report that allowed me to do just that and he also told me I could claim the artworks as a depreciation claim. Fantastic.

SIMON, MELBOURNE
MANUFACTURER

My cleaner closed a door into the middle of a Leonard Brown painting I was storing in my office, tearing the canvas and making the painting unrepairable. Because the artist has a higher gallery price than auction price, my insurance company only offered me a quarter of the painting's cost. Michael produced a report to verify the history of the artwork and its uniqueness, and the insurance company then paid me the correct amount in compensation.

JOHN, BRISBANE
LAWYER