Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreA renowned framing studio accidentally damaged a Pierre-Auguste Renoir etching whose owner previously had appraised for $5,000. The owner presented this appraisal as evidence and the source of claimed value. To navigate the complex claims process, the insurance company for the framing studio enlisted the expertise of J.S. Held’s High-Net-Worth Contents team. J.S. Held's fine art appraisers were tasked with assessing the damage and validating the claimed value. The outcome of their evaluation would determine the compensation for the Renoir etching, highlighting the critical role of professional appraisers in preserving the integrity and worth of treasured artworks.
J.S. Held’s fine art appraisers examined the submitted photographs and the previous appraisal, which had been prepared by the gallery from which the piece was purchased. The etching in question was one of Renoir’s recognized works, Baigneuse Debout A Mi-Jambes (“Standing Bather Mid-Legs”), circa 1910. Concerns arose immediately upon reading that the etching was described as “hand-signed” by Renoir and labeled as an artist proof edition. Renoir seldom hand-signed his etchings, as his signature was typically part of the plate. The gallery owner claimed that this particular Renoir was “from the time of his studio, with a pencil signature" and that the etching was “also a commemorated Ea. Artist Proof, by his hand in pencil."
Upon first inspection of the signature in the photographs, discrepancies with Renoir’s known signature were evident. For instance, the "R" featured a loop that Renoir never used in his signatures. The etching was also inscribed in the margins with, "Eau forte originale Renoir" ("Original Renoir etching" in English). However, this inscription does not indicate an épreuve d'artiste (artist proof) in this context— the term "eau-forte-originale" means "original etching” in English. If it were an artist proof, it would be marked "E.A." The gallery owner mistakenly interpreted "Eau" as "Ea" for épreuve d'artiste (“artist proof”).
In conclusion, J.S. Held determined that the etching was inscribed, "Eau forte originale Renoir" (“original Renoir etching”) by an unknown hand, not by Renoir himself. The gallery owner’s appraisal used the hand signature as a selling point and justification for valuing the print at $5,000, whereas our research indicated a market value of $2,500. Additionally, it was revealed that the previous appraisal was conducted by the gallery owner, who was not an accredited appraiser and had a vested interest in the property.
Ensuring your appraiser is accredited by one of the three major appraisal organizations—the American Society of Appraisers (ASA), the American Association of Appraisers (AAA), or the International Society of Appraisers (ISA)—is crucial. These organizations require their members to act as impartial third parties. J.S. Held’s team of fine art appraisers are accredited and certified through these organizations and hold a combined 100+ years of experience in the art sector.
Erin Hollenbank
Senior Fine Art Appraiser,
High-Net-Worth Contents
+1 440 425 3756
[email protected]
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