k-flash audio commentArt and Value
k-flash audio commentArt and Value

The case

In 2025, Joseph Merhai made a substantial contribution to the development of objective and quantitative systems for art valuation, that are particularly useful in both  legal contexts and tax contexts.

Source: L’Art et sa valeur, Merhai, Joseph, Schulthess Verlag 2025, 158 pages – 978-3-7255-9286-9 & Steuer Revue September 9/2025

The commentary

On 8 April 2025, Merhai released L’Art et sa valeur (Volume 2, in French), a book offering a rigorous, multi-disciplinary approach to assessing an artwork’s quality and value through the lenses of philosophy, finance, economics and law. The publication offers four detailed studies that combine principles of commensurability, comparability, statistical and financial tools, as well as a recognition of art as a financial asset, delivering both a theoretical insight and practical valuation guidance for legal practitioners.

On 1 September 2025, Merhai published a professional article (Steuer Revue / Revue fiscale) that presents concrete, objective methods for valuing works of art, explicitly tailored towards the use in tax proceedings and legal proceedings.

In both his volumes, Merhai tackles the prevailing subjectivity in art valuation by introducing measurable, analytically robust frameworks. His work is groundbreaking as it bridges philosophical, financial and economic theory with legally grounded tools, i.e. it is an academicization and professionalization that addresses longstanding challenges in the art market, especially for tax authorities and legal professionals.

Please note: According to the Zurich Administrative Court, any artwork with a market value of CHF 150,000 or more is classified as taxable property, irrespective of how it is used or independent of the owner’s financial situation. Such items, especially collections surpassing that value, are generally no longer considered household goods but must be declared and taxed as part of net wealth. In cases involving commercial activity (e.g. frequent buying and selling of artworks) or when the classification is unclear, professional tax advice is recommended.

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