As appraisers, we are constantly faced with the issue of authenticity. Often we are the messengers bringing bad news.
Most clients harbor the misconception that appraisers also authenticate.
With virtually no exception appraisers do not and should not authenticate. All of our appraisal documents state, We do not warrant or guarantee the authenticity, title, or ownership of the artwork. Our appraisals are based only on the readily apparent identity of the items. In other words You have stated this is a Picasso. If it is, this would be the value, but we cannot guarantee it is a Picasso.