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Legal aspects of appraising have become crucial to the profession. At its highest levels, appraising requires in-depth knowledge of key issues, including clear title (NAGPRA with regard to ownership of Nazi-era looted property); IRS legal considerations; determination of authenticity; appropriate marketplace (retail market, tax shelters); the factoring in of volume discounts; the interaction of case law and the Uniform Standards of Professional Appraisal Practice; and legal aspects of damage/loss appraisals. Analyze prominent cases that illustrate compelling legal considerations connected with valuing modern and contemporary art, including that of Warhol, O’Keeffe, Rothko, and Calder.
http://www.sps.nyu.edu/content/scps...860