7-PALM 00001 1967 Appraisal.pdf
PDF 146 KB Posted
- Solicitation number
- RFP260057
- Issued by
- Bath County, Kentucky
About this file
This is an appraisal report prepared by Caza Sikes, LLC for the City of Louisville, Kentucky, specifically for Jessica Kincaid, Public Art Administrator at the Office of Advanced Planning and Sustainability. The report provides both insurance valuation and fair market value assessments for a single artwork - a Carrara marble statue of French King Louis XVI created by sculptor Achille Joseph Etienne Valois, circa 1816-1827. The sculpture, designated as PALM 00001-13, depicts the standing figure of Louis XVI in royal robes embroidered with fleur-de-lis and lined with ermine tails, accompanied by a cherub figure, and is mounted on a limestone base with approximate dimensions of 11ft 6in x 4ft 5in x 5ft 3in for the sculpture and 6ft 1in x 5ft 6in x 5ft for the base.
The appraisal establishes two distinct valuations for the artwork: an estimated replacement cost value of $125,000 for insurance purposes and a fair market value of $65,000. The replacement cost valuation considers the expense of replacing the item with another of similar qualities within a reasonable timeframe in the relevant marketplace, while the fair market value represents the most probable amount a buyer would pay and seller would receive within an identified market. The report is confidential and restricted to use by the City of Louisville and its insurance provider for the specified valuation purposes only, with distribution to other parties prohibited without expressed written consent unless ordered by a court of law.
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Text version
Caza Sikes 3078 Madison Rd.. / Cincinnati, OH, 45209
(513)818-9527
Jessica Kincaid Public Art Administrator Office of Advanced Planning and Sustainability 527 W. Jefferson St., Louisville, KY 40202
The following appraisal assignment was undertaken at your request in order to provide the estimated replacement cost of the following works owned by the City of Louisville. This appraisal report is to be used by you and your insurance provider for the intended use of insurance valuation and for that use alone. It may not be used by any other party for any other use. This report is confidential and will not be released to any other party without your expressed written consent, unless so ordered by a court of law. Replacement costs stated do not reflect any additional expenses that might be incurred in purchasing replacement items such as sales tax or shipping costs.
I have provided an estimated replacement cost value. The definition of estimated replacement cost value is summarized as follows:
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Estimated replacement cost can be a new, used, or equivalent item of like kind, quality, authorship, maker, and utility. It considers that items may be upgraded to latest model or style where item is still being produced in the marketplace. Where items are antique and/or collectible, replacement cost is based on items of similar age, not on new items.
In summary, the total estimated replacement cost value of the appraised item totals $125,000.00
Caza Sikes / 3078 Madison Rd. Cinti, OH 45209 513-818-9527 www.cazasikes.com http://www.llestateliquidation.com
APPRAISAL
Valois, Achille Joseph Etienne: Louis XVI
PALM 00001-13
The standing figure is a representation of the French king Louis XVI. He stands with his left foot slightly forward. His left hand holds a staff and his right hand is extended forward. The figure is dressed in robes embroidered with fleur-de-lis and lined with ermine tails.
A cherub reclines on a crown towards the rear of the king's right hand and gazes upward toward him. There is a scroll in the cherub's right hand. The sculpture is mounted on a square base., Carrara marble statue, Limestone base, Sculpture approx 11ft 6in x 4ft 5in x 5ft 3in Base approx 6ft 1in x 5ft 6in x 5ft, ca. 1816-1827
Insurance Value: $125,000.00
Caza Sikes / 3078 Madison Rd. Cinti, OH 45209 513-818-9527 www.cazasikes.com Page 8 of 9
Caza Sikes, LLC 3078 Madison Rd. / Cincinnati, Ohio 45209
(513) 818-9527
5/23/2023 Jessica Kincaid Public Art Administrator Office of Advanced Planning and Sustainability 527 W. Jefferson St., Louisville, KY 40202
The following appraisal assignment was undertaken at your request in order to provide the market value of property. This appraisal report is to be used only by recipient(s) and associated parties for the intended use of establishing fair market values for the works outlined below. It may not be used by any other party for any other use. This appraisal report is confidential and will not be released to any other party without your expressed written consent, unless so ordered by a court of law.
I have provided a market valuation. The definition of market value used is summarized as follows:
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Inn ssuummmmaarryy,, tthhee ttoottaall mmaarrkkeett vvaalluuee ooff tthhiiss aapppprraaiissaall iiss $$65,,000000..0000..
Caza Sikes / 3078 Madison Rd. Cinti, OH 45209 513-818-9527 www.cazasikes.com
APPRAISAL
4039237 Valois, Achille Joseph Etienne: Louis XVI
PALM 00001-13
The standing figure is a representation of the French king Louis XVI. He stands with his left foot slightly forward. His left hand holds a staff and his right hand is extended forward. The figure is dressed in robes embroidered with fleur-de-lis and lined with ermine tails. A cherub reclines on a crown towards the rear of the king's right hand and gazes upward toward him. There is a scroll in the cherub's right hand. The sculpture is mounted on a square base., Carrara marble statue, Limestone base, Sculpture approx 11ft 6in x 4ft 5in x 5ft 3in Base approx 6ft 1in x 5ft 6in x 5ft, ca. 1816-1827
Fair Market Value: $65,000.00
Caza Sikes / 3078 Madison Rd. Cinti, OH 45209 513-818-9527 www.cazasikes.com Page 8 of 9 http://www.llestateliquidation.com
| PALM 00002_1967_Appraisal.pdf |
| Untitled |
PALM 00001_1967_Appraisal.pdf
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