Tag: fractional interest

Discounts in Art: “Starving Artist” Prices?

April 02, 2009 | Business Valuation, Court Decisions, Legal Perspective

Icon for author Brian Vertz Brian Vertz

The 9th Circuit Court of Appeals recently issued a decision (highlighted by Carsten Hoffman’s FMVOpinions)¬†affirming a tiny fractional interest discount applied to a jointly-owned collection of paintings. In Stone vs. U.S. (2009), the district court rejected the opinion of the estate’s expert, who testified in favor of a 44% fractional interest discount, citing the expert’s “total lack of experience with the art market; the dissimilar motives driving purchasers to acquire […]

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