Valuation of Priceless Objects

Paper Summary:

The paper states that the valuation of priceless historical and cultural artifacts is not a process guided by specific rules or regulations and in fact is an unstructured and unpredictable process based on various methods and techniques. The paper comments that this results in a comparable analysis technique, with each valuation process being somewhat different from those previously conducted. The paper discusses the valuation of historical cultural artifacts that are from cultures for which there have been no previous market sales. The paper progresses through the three traditional valuation techniques including comparable market value, asset value, and the income method.

Outline:
Objective
Introduction
Traditional Means Of Valuation
Means Of Valuation Of Ancient Cultural Items
Summary And Conclusion

From the Paper:

"It has been clearly demonstrated in the research that valuation of antiquities has no sure and constant form due to the nature of collecting antiquities and all the questions and concerns that may arise as to the origination of the art objects. Due to the demand for such works of art, looting of archaeological sites and museums has occurred and while rules and regulations have been instituted into import and export laws, there still exists a black market for these ancient art objects. In today's world of art collection, the collector must necessarily ensure that they are not in possession of stolen art objects and should that be the case pressures from the art world and the country of origination, as well as the penalties of law regarding such objects will likely result in a return of the art object to the originating country or culture to which the art object was derived."

Sample of Sources Used:

• Determining Fair Market Value of Investment Property (2007) Financial Web. 2007 Online available at: http://www.finweb.com/investing/determining-fair-market-value-of-investment-property.htmlAsset Valuation (2007) The Free Dictionary. Online available at: http://encyclopedia.thefreedictionary.com/Asset+valuation
• MacClancy, Jeremy (2006) A Natural Curiosity, The British Market in Primitive Art 2 July 2006. An Essay on the Tribal Art Market. ArtTRak Tribal Art. Online available at: http://arttrak.blogspot.com/
• Antiquities to Grow Old With (2005) Business Week 26 September 2005. Online available at: http://www.businessweek.com/magazine/content/05_39/b3952118.htm
• Dodge, Bob (2007) How to Buy Ancient Art. Artermis Gallery Ancient World Art. Online available at: http://reviews.ebay.com/How-to-buy-ancient-art_W0QQugidZ10000000002977011
• Sandler, Linda (2006) Ancient Clash: Christie's Says It's Greek, Dealers Say Roman. Phoenix in Bloomberg. 18 May 2006. Phoenix Ancient Arts S.A. Online available at: http://www.phoenixancientart.ch/news/36

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