London museum review from our associate from Athens

"Ergina Xydous had the opportunity to visit the American Abstract Expressionism Show at the Royal Academy of Arts, London. It was really impressive in the way that the visitor felt the connection to preceding European art movements such as Surrealism, Dada and Abstraction, understanding at the same time the influence Abstract Expressionism had on today's contemporary art. That was all so clear when standing in front of the original masterpieces.

Visiting time seemed too short to really absorb the multi-faceted character of Abstract Expressionism. The imposing central showroom with Mark Rothko's masterpieces, rivaled the Jackson Pollock's paintings and the sculpture of Robert Smith. I left the exhibition fully inspired!

Regarding contemporary art events in Europe, I would like to point out the interesting show of Ai Wei Wei at the Cycladic Museum im Athens (www.cycladic.gr ) , following the artist’s month long residence on the Greek island of Lesvos, a hot spot for refugees.  One work was created for the show, the rest were from previous years, including his characteristic photos of places and monuments all over the world.

It was the first time Wei Wei exhibited in an archaeological museum, and the first time he exhibited in Greece. At the same time an exhibition of Ai Wei Wei is going on in Vienna (21er Haus + Belvedere gardens) till the 20th of November."

By Ergina Xydous, Fine Art Appraiser, OTE European Associates

The Newest Art Fraud

The newest art fraud matter was front paged in today’s (October 18th) New York Times when a major Wall Street trader accused a college art history professor and her son of forging 30% of the Leon Golub paintings in his collection. Andrew J. Hall, whose commodities market trading acumen is said to have earned him a $100 million bonus one year, has exhibited his collection in the US and Germany and has his own museum in Vermont. He now claims that all 24 paintings he bought from Lorettann Gascard of Franklin Pierce University in New Hampshire were all fakes. Samm Kunce, representing the Golub-Spero Foundation examined the Hall paintings and “found problems” according to the Times. Elisabeth McCarthy, speaking for the Golub-Spero Foundation, said that the Foundation would not opine on the authenticity of the works.

Dr. Gascard, earned her doctorate at the Free University in Berlin and in 2004 again traveled to Germany on a Fulbright grant for research purposes. She and her son apparently left the area about a year and a half ago and have not been heard from since.  Mr. Hall is seeking damages for the $676,250 he paid for the paintings.

Leon Golub, who died in 2004, and his wife, Nancy Spero, who died in 2009, were a couple famed for their sparely executed but passionately rendered political paintings. The artist is currently represented by Hauser & Wirth Gallery, New York. has shown internationally, and is represented in numerous museums world wide.

Hollis Taggart Gallery Opening

Last night I was in Chelsea, which was mobbed with hundreds visiting opening night exhibitions, and my first stop was at Hollis Taggart to see William Scharf’s first exhibition in years. It came about through the efforts of Christopher Rothko (Mark’s son) and Earl Davis (Stuart Davis’ son).

By Elin Lake-Ewald, Ph.D, FRICS, ASA, President of O'Toole-Ewald Art Associates Inc.

The first picture, Sally Scharf. The tall man is Christopher Rothko and next to him, back turned, is Hollis Taggart, the gallerist.

The first picture, Sally Scharf. The tall man is Christopher Rothko and next to him, back turned, is Hollis Taggart, the gallerist.

IMG_0555.JPG

A Sunday visit to the Guggenheim Museum

My Sunday visit to the Guggenheim was a journey of surprises.

First of all, I ran into a line of would-be visitors that disappeared around the block and down that street. Luckily I had a card that bypassed what looked like an hour long wait on a cool windy day and immediately ran into a wall of people who, when they weren't standing in line for the Mauritzio Cattelan's "Gold Toilet", were crowded the sloping aisles to examine the 100 plus Agnes Martin paintings and drawings, up close and fascinated. I always listen to comments at these exhibitions, and these were the most intelligent I'd overheard. I found the experience extraordinary for two reasons. 

One is that so many have been drawn to this mystical abstract artist who lacked flamboyance in her work, work that is not even easily understood on its most superficial level, let alone its most profound. Or maybe I'm very, very wrong. The crowds seem to indicate that.

Threw in some photos that are very Un-Agnes-like or certainly unlike what most folks think a typical Martin painting looks like. The non-grid ones came early when she associated with some of the most influential Abstract Expressionists and I see traces of Rothko and Newman and Reinhardt, but then this truly singular artistwent solo become Agnes Martin in the truest sense.

By Elin Lake-Ewald, P.hD, FRICS, ASA; President of O'Toole-Ewald Art Associates Inc.

FRIEZE Art Fair Highlights

"I went to Frieze London this morning, when it opened at 12PM, andit was full within half an hour, and then a constant stream of people - young people, international but with a lot of Italian being spoken.  

I have just been to a lecture on Aboriginal art and it is fascinating, every painting has a meaning and represents part of their beliefs, their land, their culture. So this one immediately caught my eye."

By Gillian Craig, OTE European Associate

Warlimpirrnga Tjapaltjarri, Untitled, 2015, Acrylic on linen, 244 x 183 cm, Salon 94

Warlimpirrnga Tjapaltjarri, Untitled, 2015, Acrylic on linen, 244 x 183 cm, Salon 94

Also, I would like to share other highlights from FRIEZE Art Fair of London.

Another that caught my eye.  By John Hoyland (1965 - was English) - at the Pace Gallery stand. It is 183cm high x 366cm long. Price: £180,000 (sterling)

Another that caught my eye.  By John Hoyland (1965 - was English) - at the Pace Gallery stand. It is 183cm high x 366cm long. Price: £180,000 (sterling)

A painting by Bridget Riley, £700,00 (sold, but they have another painting by her in their gallery!)

A painting by Bridget Riley, £700,00 (sold, but they have another painting by her in their gallery!)

My favourite even though it is pink! £3.5 million (sterling)

My favourite even though it is pink! £3.5 million (sterling)

Artwork fro Gallery P.P.O.W. of New York

Artwork fro Gallery P.P.O.W. of New York

IMG_2780.JPG

London PAD Art+Design Fair Experience

OTE’s European Associate, Gillian Craig, shares her experience at PAD (Art + Design) experience. She considered of great significance a set of 12 chairs, designed by Bernard Boutet de Monvel, 1925, – at PAD London, stand A14, Galerie du Passage, France.  A Greek inspired design with needlework seats with 6 vegetable and 6  fruit designs.  Price: £140,000 (Sterling). The work of Bernard Boutet de Monvel (b. 1881 – d. 1949) was influential in the art deco movement during the 20th century.

A highlight also includes a Closed Vessel, in Limewood, by Marc Ricourt, living in France. At PAD, Stand A6, Sarah Myerscough. It has been a wonderful week of art and design in London!

COUVERTURE LIVRE BOUTET DE MONVEL.jpg
Documentation Salle a manger Boutet de Monvel.jpg
Stand A6, Sarah Myerscough

Stand A6, Sarah Myerscough

FRIEZE Art Fair Experience in London

Frieze Masters Preview today was buzzing, and when I left at 5 pm, they had already exceeded its visitor figures from last year.  Interest has not diminished after Brexit!  Foreign speaking were heard intently into their cell phones, Italians calling fellow Italians saying they 'must' come over to see it... and privatevisitors with partners and art advisers taking down lots of details.  

One completely different piece that caught my eye.  The Collector's Cabinet from Kunstkammer Georg Laue, Munich.  There are four photos attached and there is abookby Alvar Gonzalez-Palacio especially dedicated to this piece.  Below are the details and the price:  

Collector¹s Cabinet
with 48 Wax Reliefs by Caspar Hardy
Cologne, circa 1795
Cherry wood, brass marquetry, wax reliefs, height 225 cm, width 145 cm, depth 62 cm

5.jpg
2.jpg
3.jpg

Conceived as a collector¹s cabinet to house and display 48 wax reliefs by Caspar Bernhard Hardy (1729-1819), this unique secrétaire was made in ca 1795 by the cabinetmaker Theodor Commer (1773-1819), who trained in the Roentgen workshop in Neuwied. The intertwined letters JWN inlaid on the front refer to the collector who commissioned this extraordinary piece of furniture: Johann Wilhelm Neel (1744-1819), a canon from Cologne, who was, like so many amateurs of his time, a fervent admirer of Hardy. Known for his colourful wax reliefs depicting allegorical figures, Hardy was celebrated as one of the most important sculptors of his time.

Johann Wolfgang Goethe, who knew the artist personally and also collected his work, wrote the following about his reliefs: they deserve to be shown in a museum in Cologne for they clearly demonstrate that we are here in the city of Rubens, in the Lower Rhine, where colour has always dominated and exalted works of art. Clearly, Johann Wilhelm Neel also considered Hardy¹s wax sculptures worthy of a museum or at least a special display such as the secrétaire he commissioned for his own collection of waxes by Hardy.

The price:   EURO 750.000

By Gillian Craig, OTE European Associate based in London.  

PAD Art + Design Fair at London

PAD was buzzing today, its 10th outing in London, with exhibitors saying today’s crowd was even better than its preview on the 3rd, with people queuing to buy the £25 ticket.  It is, and has always been, beautifully presented, attracting an elegant international visitor not always seen at other similar events.  It is the right size to be able to ‘go back’ to see the pieces that caught your eye the first go-round, of which there are many. Some that caught my eye were:

The Shelf – by Joseph Walsh from Ireland, Euros 36,000 + VAT (also his two granite stools) - on Stand A6 – Sarah Myrescough, exhibiting at PAD for the first time.

The Shelf – by Joseph Walsh from Ireland, Euros 36,000 + VAT (also his two granite stools) - on Stand A6 – Sarah Myrescough, exhibiting at PAD for the first time.

The stand of Adrian Sassoon, Stand B17, with a piece in steel by Junko Mori in the foreground

The stand of Adrian Sassoon, Stand B17, with a piece in steel by Junko Mori in the foreground

Eniguum Consul Table (Olive, Ash & glass) by Joseph Walsh (born 1979) - £48,000 + vat – on Stand C6 – Peter Petrou, exhibiting at PAD for the first time

Eniguum Consul Table (Olive, Ash & glass) by Joseph Walsh (born 1979) - £48,000 + vat – on Stand C6 – Peter Petrou, exhibiting at PAD for the first time

Stand C1 – Pinto Paris – a stand you could just move into!

Stand C1 – Pinto Paris – a stand you could just move into!

Stand C1 – Pinto Paris – a stand you could just move into!

Stand C1 – Pinto Paris – a stand you could just move into!

“Dreamcatcher” by Rowan Mersh (3metres x 2 metres) - £72,000 inc VAT on the stand of A24 Gallery Fumi (Sardinia, Italy).  Made from  ‘farmed’ Turritella shells from the Phillippines

“Dreamcatcher” by Rowan Mersh (3metres x 2 metres) - £72,000 inc VAT on the stand of A24 Gallery Fumi (Sardinia, Italy).  Made from  ‘farmed’ Turritella shells from the Phillippines

“Dreamcatcher” by Rowan Mersh (3metres x 2 metres) - £72,000 inc VAT on the stand of A24 Gallery Fumi (Sardinia, Italy).  Made from  ‘farmed’ Turritella shells from the Phillippines

“Dreamcatcher” by Rowan Mersh (3metres x 2 metres) - £72,000 inc VAT on the stand of A24 Gallery Fumi (Sardinia, Italy).  Made from  ‘farmed’ Turritella shells from the Phillippines

“Dreamcatcher” by Rowan Mersh (3metres x 2 metres) - £72,000 inc VAT on the stand of A24 Gallery Fumi (Sardinia, Italy).  Made from  ‘farmed’ Turritella shells from the Phillippines

“Dreamcatcher” by Rowan Mersh (3metres x 2 metres) - £72,000 inc VAT on the stand of A24 Gallery Fumi (Sardinia, Italy).  Made from  ‘farmed’ Turritella shells from the Phillippines

Nature  & Works of Art !– one of the  tree trunks of Berkeley Square around which the Pavilion is built – on Stand C12 Gallerie  Monbrison

Nature  & Works of Art !– one of the  tree trunks of Berkeley Square around which the Pavilion is built – on Stand C12 Gallerie  Monbrison

Gillian.png

A Sale Worth Noting; Hollywood vs. Mosfilm

Ralph Taylor, Senior Director of Bonhams Post-War and Contemporary Department, said in a recent interview; “At Bonhams you can be innovative, and zig when everyone is zagging. It is crucial to create a distinct identity, but one that makes business sense.” The opening of the zigging-season (when everyone is zagging), seems to be the October 6 sale offering a complete set of 257 personal photographs by Soviet filmmaker Andrey Tarkowsky (1932 – 1986), aiming to collect at least £500.000 for Tarkowsky’s family by selling 257 intimate Polaroids that Tarkowsky shot in Italy and Russia prior to making his 1983 movie Nostalgia. The Polaroids are divided into 29 lots with estimates between £20.000 up to £37.000 per lot.

Excuse me, Andrey who? Oh well, for those who have never heard of the filmmaker Andrey Tarkowsky, it may be be reassuring that Bonhams department of Entertainment Memorabilia is the department that sold the piano from the 1947 movie Casablanca (on which Sam played “As time goes by”) for 3 million USD and the costume of the Cowardly Lion from the 1939 movie The Wizard of Oz for a similar amount.

Very true so, Russian cinema is not Oz and I and even hesitate to admit to be one of those weakhearted with a soft spot for Tarkowsky movies. What, however, really excites me about this sale is the bravado that Bonhams demonstrates. After succesfully zagging Hollywood, selling wonderful props such as Willy Wonka’s Golden Ticket and Steve McQueen’s 1971 Racing. Overall, it is worth applauding that the London auctioneer is equally challenged by zigging film institutes and film museums around the globe, looking for the highest bidders for this rare set of low-profile memorabilia from the Mosfilm tradition of Moscow.

NOSTALGIA Before and After; A Collection of unique Polaroids by Andrew Tarkovsky; BONHAMS, 6 Oct 2016. London, New Bond Street. https://www.bonhams.com/auctions/23936

By Erik Paol, OTE European Associate, Amsterdam

For Further reading; https://www.theguardian.com/film/2016/aug/16/andrei-tarkovsky-polaroid-photographs-auctioned-bonhams-solaris

"The Battle of Brooklyn" Exhibition

"The Battle of Brooklyn" exhibition currently on view at the New-York Historical Society, provides an absolutely fascinating afternoon for any history buff. If General Howe had decided to continue his siege after he defeated Washington that day in August, the Revolutionary War would have ended by nightfall. One man’s hesitation and a new country came into being. Washington saved the remainder of his men when fog rolled in as they escaped with their horses on rafts across the East River to Manhattan. Found out that Brooklyn (Brooklin) was named after a stream that ran through it. Not as exotic as I had hoped.

By Dr. Elin Lake-Ewald, President of O'Toole-Ewald Art Associates Inc. (OTE)

John Trumbull (1756–1843), George Washington (1732–1799), 1780. Metropolitan Museum of Art Bequest of Charles Allen Munn, 1924, 24.109.88

John Trumbull (1756–1843), George Washington (1732–1799), 1780. Metropolitan Museum of Art Bequest of Charles Allen Munn, 1924, 24.109.88

Franz Xaver Habermann (1721–1796), engraved by J. Chéreau, Représentation du feu terrible à nouvelle Yorck, 1776. New-York Historical Society Library

Franz Xaver Habermann (1721–1796), engraved by J. Chéreau, Représentation du feu terrible à nouvelle Yorck, 1776. New-York Historical Society Library

William Joy (1803–1867), Forcing the Hudson River Passage, ca. 1835. Oil on canvas. New-York Historical Society, Gift of the Travelers Insurance Company.

William Joy (1803–1867), Forcing the Hudson River Passage, ca. 1835. Oil on canvas. New-York Historical Society, Gift of the Travelers Insurance Company.

Find out more about "The Battle of Brooklyn" exhibition at the New-York Historical Society Museum & Library.

The Merton Simpson Collection

On October 1st in Falls Church, Virginia, an extraordinary event will take place at Quinn’s Auction Galleries, and bring to a close a controversy that has roiled the African Art market since the death of famed art dealer/artist Merton Simpson at the age of 84 in March of 2013.

Among the myriad ceremonial statues, paintings, tribal objects and decorative items in the collection, the shining star of Merton Simpson’s private collection is a 16th century bronze plaque, acquired by Simpson from a European dealer in the 1950s and authenticated by African art experts John A. Buxton and Kathy Curnow, and that has also undergone forensic examination by Rare Collections, which provides scientific investigation and research services to museums and private collections in the US and abroad. The single figure of a warrior chief holds a ceremonial dance sword and also depicts a European man in profile and two crocodile heads and rosettes.

Exhaustive research has been conducted to confirm the plaque’s lawful status. Growing museum interest in the extraordinary artifact indicates a full house on Saturday, as well as online participation.

Simpson’s personal history is one of triumph and tragedy. Born in Charleston, South Carolina, Merton Simpson may have begun his career as an Abstract Expressionist painter, but he became famous for his specialization in African Art, ultimately being honored at the Metropolitan Museum of Art. He was known and respected for his expertise in the field, but in his declining years his health and ability to run his gallery on 28th Street deteriorated, outsiders took advantage of him, and finally when he died his son Merton Jr. had to send out emails to friends of his father asking for contributions to pay for his funeral and burial.

The estate is currently under the supervision of the office of Public Administration, New York.

The Benin plaque, estimated at $800,000 - $1.2 million, is among other highlights of the upcoming sale. Indicative of many artifacts is a horned plank Bedu mask with checkerboard design from the Ivory Coast/Ghana, depicting a elaborately coiffered female, estimated at $10,000 - $15,000, and a Teke tribe mask with the same estimate.

O’Toole-Ewald Art Associates, Inc. (OTE) served in a non-participatory advisory capacity.

Merton D. Simpson, Painter, Collector, Dealer in African Art, Dies at 84. The New York Times.

Merton D. Simpson, Painter, Collector, Dealer in African Art, Dies at 84. The New York Times.

Vladimir Kagan's Art Show

O'Toole-Ewald Art Associates Inc. (OTE) appraisers visited Vladimir Kagan's Art Show opening at Carpenters Workshop Gallery on 5th Avenue. Photos of last creations of our friend Vladimir Kagan, a giant in 20/21st furniture design. One is a mock-up of a desk that will be cast in bronze, the other a futuristic sweep of curved wood upholstered in white leather.

art appraisal, complex valuation, collateral loan appraisal, archival appraisal, artist estate appraisal, complex appraisal,  damage/ loss appraisal, insurance appraisal, estate valuation, art valuation, painting valuation, fair rental value appraisal, fair market value appraisal, fractional discounting appraisal, litigation support, prospective appraisal, retrospective appraisal, collateral loan appraisal
art appraisal, complex art appraisal, art valuation, complex art valuation, archival appraisal, artist estate appraisal, collateral loan appraisal, cost basis appraisal, damage/ loss appraisal, estate valuations, estate appraisal, equitable distribution appraisals, matrimonial appraisals, fair rental value appraisal, fair market value appraisals, fractional discounting appraisal, insurance appraisal, prospective appraisal, retrospective appraisal, valuation

Diane Arbus — In the Beginning — Met/Breuer Exhibition through November 27, 2016

Diane Arbus: In the Beginning, exhibits 100 images made from 1956 - 1962, is full of poor compositions, confusing pictures, and near-miss pictures, which we know because we have already seen the great ones that came later.  This show should be reassuring to all beginners, when they see that even Diane Arbus made bad photographs. 

Though the show nearly doubles the number of Arbus images in print, it makes me wonder whether we have really been missing an important view of this extraordinary artist, not available until now.  These are, after all, photographs she never intended anyone to see.  They were the early ones, the rejects.  And though her standards were extraordinarily high, and someone else might have agreed to show some of them, the fact remains that she did not.

Even after two biographies, we know relatively about Diane Arbus, and have seen very little of her work.  Arbus, an artist highly regarded by her peers, but not familiar outside New York art and publishing circles, died a suicide in 1971, age 48.  In 1972 (or immediately, in museum time) the Museum of Modern Art held a one woman show, using images that Arbus had selected and approved for exhibit during her lifetime.  Everyone considered these images mature works of a genius at the height of her powers.  The unofficial catalogue, Diane Arbus, with “Identical Twins, Roselle New Jersey, 1967” on the cover, has never been out of print (and according to Arthur Lubow, her highly regarded biographer, it has sold half a million copies, making it one of the best-selling art books of all time).  Until recently the 80 images from that book were all we saw; Diane Arbus: Magazine Work, (published in Esquire, Harper’s Bazaar and New York magazine, among others) and Untitled (images made in 1969 and 1970 at a home for retarded women, chosen for publication by her daughter, Doon) added roughly 100 more pictures to the group. That’s all we saw for over 30 years.  Her haunting story, and her scarce and matchless pictures, made Arbus an icon for artists, feminists, and outsiders, and a very high earning figure in the art market.

In 2003, Revelations, an enormous exhibition and accompanying publication by the Metropolitan Museum of Art, opened Arbus’s life to public view, including a reproduction of her darkroom, and a wall of her books with an installation that felt like a shrine.  The book itself is a kind diary/scrapbook, printing letters, diaries, and many pictures we had never seen, most in small sizes, like historical snapshots.  The best part was getting to see the images never seen before, made throughout her career. We saw images made as early as 1956, when she began in earnest to make art photographs, using a 35mm camera.  We saw her earliest efforts with the square format 2-1/4 camera, which she started to use in 1962, and used till the end of her life. There were many more “ordinary” people in those pictures — New York ladies out shopping, couples and families sitting together, young women at home.  In this context, all images betrayed the Arbus signature style. Most were prints that already existed in the archive.  In a very few cases, the estate decided to make new prints, essentially adding to the canon of existing images.  (This very rare practice has also been done with work from the estate of Garry Winogrand.)  It struck me then that the Arbus estate was essentially printing money, for once on the market, these new prints would immediately become as rare and valuable as the work we already knew.

In 2007, the Arbus Estate selected the Met to be the permanent repository of the Diane Arbus Archive, a voluminous collection, including negatives, prints, papers, correspondence, and library.

Now the Met returns to this early work for an exhibition, all made before 1964, and almost all the images made with a 35mm camera. We see familiar subjects — freaks, transvestites, girls dressed nearly alike, eccentrics of all kinds — and the ordinary people, somehow revealed to have more significance than we could ever imagine.  In the few instances when the show includes a square format print — as with Child with a Toy Hand Grenade in Central Park, N.Y.C. 1962 — you want to cheer.  It’s a breakthrough! You have found your way!

Around the time Arbus made this picture, she applied for a grant from the Guggenheim Foundation, and emphasized the documentary, historical nature of her work.

“I want to photograph the considerable ceremonies of our present because we tend while living here and now to perceive only what is random and barren and formless about it……I want simply to save them, for what is ceremonious and curious and commonplace will be legendary.”
— [Revelations, p. 41]

In 1972, Doon Arbus spoke about the application with John Szarkowski, Head of the Photography Department at Museum of Modern Art.  He remembered the pictures she submitted to the committee:

…they were very forceful and you really felt somebody who was just enormously ambitious, really ambitious. Not in any cheap way. In the most serious way. Someone who was going to stand for no minor successes…There’s something untouchable about that kind of ambition….I think she wanted every word she said, every picture she took, everything she did, I think she wanted it to be just perfect — for some great revelation to come through. Terrifying.
— [Revelations, p.164-165]

Diane Arbus — The Early Work blurs rather than enhances our perception of this terrifying and ambitious artist, who sought perfection according to her own standards. This show tells us what a curator, or a group of curators, found when they went through all those boxes in the Diane Arbus Archive. Perhaps it is really just an advertisement for all that awaits excavation.  Because surely they’ve got better stuff than this.

Dr. Mary Panzer

O'Toole-Ewald Art Associates Inc. (OTE) Photography Expert

Rochester, NY. August, 2016


Dr. Mary Panzer is O'Toole-Ewald Art Associates Inc. (OTE) Photography Expert.

Over 30 years, Dr. Mary Panzer has studied photography and its history with Lisette Model, Imogen Cunningham, Joanne Leonard, Jerry Thompson and David Levinthal. She is former Curator of Photographs at the National Portrait Gallery (Smithsonian Institution), co-author of Things as They Are:Photojournalism in Context Since 1955Separate But Equal: The Mississippi Photographs of H.C. Anderson, and Avedon: Murals and Portraits, and author of monographs on Mathew Brady, Philippe Halsman, and Lewis Hine. Her essays have appeared in American PhotoThe Chicago Tribune,PhotographVanity Fair and the Wall Street Journal. She holds a PhD in American Studies from Boston University, an MA in English and Comparative Literature from Columbia University, and a BA in English from Yale. She divides her time between Manhattan and Rochester, New York. 

OTE's Proprietary Art Leasing Appraisal Program

http://www.wsj.com/articles/art-collectors-discover-irrevocable-trusts-1459130776#livefyre-comment

It’s 2016 and the art world is finally getting around to figuring out what O’Toole-Ewald Art Associates, Inc. (OTE) began investigating in 1994 – leasing art from an irrevocable trust permits art collectors to live with their art during their lifetime and reap tax savings at the same time.

Over 20 years ago OTE began researching the possibility of an art leasing appraisal program, and by 2009 had developed a fully functioning system that has been successfully utilized by major law firms nationally – to the great benefit of their collector-clients. In a professional journal in 2010, Elin Lake-Ewald PhD, OTE’s President, published an article briefly outlining the general methodology of art leasing appraisals. Backed by years of extensive research, the OTE proprietary appraisal program for leasing art from a trust is effective both in straightforward matters and more sophisticated cases, now being applied to complex legal situations.

OTE’s innovative programs have also produced firsts in fractional discounting of art in estate appraisals and damage/loss/fraud valuations nationwide, as well as a recently active collaborative program with strategic partners throughout Europe.