November 2016 Monthly Meeting
The Art of Valuation: Valuing Collectibles and Art for Estate Tax, Insurance and Charitable Donation
Through a visual and anecdotal presentation, Mark Prendergast, Director of Trusts & Estates for Heritage Auctions, will discuss recent trends in the art and collectible market, how the value of an object is determined and proper practice for IRS compliant appraisals. He will also provide insight into working with auction houses, how the auction process works and the potential costs of appraisal and liquidation. Heritage Auctions is the world's third largest auction house and the leader in rare coins and collectibles with 40 sale categories and over $900 million in sales in the past year.
Mark Prendergast earned his degree in Art History from Vanderbilt University and began his career in the arts working with a national dealer of 20th Century American Art. Joining Christie's in 1998 and advancing during a decade tenure to the position of Vice President, he was instrumental in record setting sales of works of art, collections and estates. Based in the Heritage Houston office, he serves as Director of Trusts & Estates, providing assistance to fiduciary professionals in all aspects of appraising and liquidating their clients' tangible assets. Since joining Heritage Auctions, Mark has brought to market important estate collections of Fine Art, Rare Coins, Comics, Jewelry, Timepieces, Vintage Guitars and Firearms. He regularly represents Heritage at conferences and provides speaking presentations to professional estate planning groups throughout the country. Mark co-authored "The Collector's Handbook" - a guide to tax planning, strategy and estate advice for collectors and their heirs - currently updated for 2016 now in its 10th edition.