Recent history has seen the value of blue-chip collectibles increase proportionately to the stock market, and with both, at all-time highs, collectors should consider having a qualified appraiser determine the current value of their collection. While an appraisal is the logical first step there is a multitude of additional value-added services offered by professional advisory firms that can yield significant financial and administrative benefits.
Much the same as selecting your estate planning team, choosing the right advisory firm for your treasured collectibles is a decision that shouldn't be taken lightly, as all advisors are not created equally. When performing the necessary due diligence by which to make an informed decision, the following are the types of service offerings, all of which are offered by Kravit Estate Appraisals and Advisory, that should be offered by any firm that makes your short list of qualified professionals.
Whether you wish to acquire a single piece or build an entire collection, Kravit can help articulate your vision and guide you through the purchase process. Our advisors have extensive knowledge in most collecting categories and have unparalleled access to collectibles within the primary and secondary markets, as well as through private sources. We have brokered purchases and sourced objects for our clients across the globe.
When determining the current fair market value of an item you wish to sell, obtaining insurance coverage for a family heirloom or assessing damage incurred by an unforeseen event, an appraisal sets forth an opinion of the value determined by a professional using the appropriate methodology relative to the objective of the assignment.
Volume-based consignments to the world’s premier auction houses, including Sotheby’s, Christie's, Heritage, Bonhams, Leslie Hindman and Freemans, enables Kravit to offer clients a 0% commission deal that is further enhanced with no insurance, photography or buy-in fees. For clients favoring a private sale format, Kravit offers access to their extensive collector network, which is comprised of top collectors, dealers and investors. This white glove service not only allows the client to sit back and relax while bids are gathered, but also extends the potential range of buyers from local to global.
This service provides clients with the ability to readily access and share details of their most treasured collectibles through a secure cloud-based platform that is curated by industry experts. Developed with the idea of centralizing a client’s data through the unlimited capacity of the Kravit interface, client data is protected with bank-level security, which provides the highest standard of privacy while daily off-site backups ensure collection details are protected at all times. Account owners have the ability to set customized user restrictions and therefore control what information is available and to whom. For example, a client’s estate planning team might be granted unlimited access to financial details, while family and friends may only be granted limited access to images and descriptions. Collection management is a not only a must-have for serious collectors, but also serves as an invaluable estate planning tool.
Whether it’s professionally packing and distributing tangible personal property assets to beneficiaries across the country or world, assisting a client with the downsizing, relocation or clean-out of their residence, or providing recommendations of vetted professionals to assist in many other capacities, the Kravit team will do anything and everything possible to simplify the process.
Andrew Kravit, G.G., ISA is the founder of Kravit Estate Appraisals, Florida's premier tangible personal property appraisal and advisory firm, with offices in Boca Raton and Naples. He holds his Graduate Gemology degree from the Gemological Institute of America and is accredited by the International Society of Appraisers. The Kravit team consists of experts in 30 collecting categories, all of which are multigenerational or have major auction house experience.