Katherine Yellen Antique Appraisals, LLC Phone: 203-438-9228 Certified Appraiser ISA, AAA This Fine Art Fair Market Value Appraisal example is only for illustration purposes. The Fair Market Value Appraisal provides information to those clients that are preparing to sell their art at auction and want an appraisal to help them determine what value they could expect to attain at auction. 1) Pablo Picasso Lithograph Artist: Pablo Picasso (Spanish, 1881 - 1973) Object: work on paper Medium: lithograph Title: Tete de jeune fille Description: black and white lithograph portrait of a young woman with long hair. Edition Size: 47/50 Signature: signed in pencil in the lower right hand margin, 'Picasso' Dimensions, Sight, 15.7" h x 11.7" w, Framed, 18" h x 14" w Date: 1949 Condition: good Comparable: 1. Sotheby's London, 4/7/09, lot 123, Old Master, modern and Contemporary Prints, Lithograph, Pablo Picasso, Tete de jeune fille, price realized $17,020.00 Analysis of Comparables: On an actual appraisal I would include 2 or 3 comparables. In my analysis I would explain the reasoning I used in determining the value. Provenance: When necessary or important to the value, I would list the history of the ownership of the piece or where the piece was purchased and describe how that affects value. Biograpy of the Artist: Often times I would inlcude a biography of the artist including a discussion of his work when it is important to value. Fair Market Value: $17,000.00 2) William Trost Richards Painting Artist: William Trost Richards (1833 - 1905) Object: painting Medium: watercolor and gouache Title: Point Judith Description: waves on a beach at sunset with gray clouds at the horizon. Signature: signed in lower right hand corner, 'William Trost Richards' Date: 1885 Dimensions: Sight, 23" h x 37" w, Framed 25" h x 39" w Comparable: 1. Sotheby's New York, 12/3/08, lot 138, William Trost Richards, watercolor and gouache, 29" h x 30" w, beach scene, price realized $43,750.00. Analysis of Comparables: On an actual appraisal I would include 2 or 3 comparables. in my analysis I would explain the reasoning I used in determining the value. Provenance: When necessary or important to the value, I would list the hostory of the ownership or where the piece was purchase and describe how that affects value. Biography of the Artist: Often times I would inlcude a biography of the artist including a discussion of hsi work when it is important to value. Fair Market Value: $44,000.00