Arts & Antiques pages.qxp_Layout 1 16/12/2021 15:27 Page 26
MENDIP TIMES
The fine art of valuation
THERE are occasions when a valuation of the contents of a property is desirable; at other times it is a necessity. The former includes valuations for insurance and general inventory, the latter, valuations for inheritance tax, capital gains
tax and matrimonial division. Tony Pinn says: “Ensuring that my clients understand the basis of the valuation they require is the starting point. An insurance value is the sum required to replace an item in the normal retail market. “In contrast, clients are often surprised by the difference between an insurance value and the lower figures adopted for a current market valuation; defined as the value an item would achieve on the open market on a given day. This is the basis of valuation stipulated by HMRC for inheritance tax purposes.” With more than 20 years’ experience in this role and the third generation of a family business, Toby is a trustee of the Friends of Bristol Museums, Galleries and Archives and advises the museum service on fine and applied art acquisitions. Supported by a team of specialist consultants, Toby is proud to be first choice for many of the region’s probate solicitors who insist on the quality assurance that instructing a RICS Regulated Chartered Arts & Antiques Surveyor provides. Toby is always happy to chat through your requirements. 0117 2517251 www.tobypinn.co.uk
Turnip Prize winner
THIS year’s Turnip Prize, Wedmore’s spoof version of the Turner, has been awarded to Panda Mick, illustrating the Covid pandemic. Organiser, Trevor Prideaux, said: “I am delighted with the lack of effort taken to create this work.”
Turnip winner Panda Mick PAGE 26 • MENDIP TIMES • JANUARY 2022
