Fine Art Asset Management, a subsidiary of New York-based Emigrant Bank, has launched a series of advisory and appraisal services designed for collectors, institutions, attorneys, and estates.

Effective immediately, the company will start assisting clients in negotiating sale agreements with auction houses, dealers, and private collectors. It said it will apply its buying and selling experience into broader estate, financial, philanthropic, turnaround, and restructuring plans.

The new service's appraisals are compliant with both the Uniform Standards of Professional Appraisal Practice and IRS requirements for donation, probate, estate planning, insurance, loss and damage, and divorce.

Fees for advisory work will be charged depending on the project's scope. Clients who wish to sell assets will be assisted by Fine Art AM's team to maximize net proceeds by determining the optimal timing, sales channel, and geographic location for the transaction. They also assist in the purchase of art and antiques.

The division will be led by Andy Augenblick, president of Fine Art, who will be accompanied by senior executives and fine art specialists Nancy Harrison, Barbara Chu, and Li Jun Xian. Harrison is the president of the Appraiser's Association of America, Chu is a senior banker, while Xian joined the firm from Goldman Sachs, where she analyzed credit risk.