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Pall Mall Art Advisors was born out of the valuation departments of UK and US auction houses, Lyon & Turnbull and Freemans. The firm has gone into partnership with California-based software developer Trōv, allowing information on personal property to be stored and managed on a web-based or mobile app.

Managing director Rachel Doerr (Europe) and Anita Heriot (president North America), will head the new company.

"For the first time our customers will have access to Trōv, giving them immediate and secure access to all sorts of information about their collections, including complete descriptions with photos and videos, current values and trends, location and history," said Rachel Doerr.

"Our partnership will go well beyond the normal identification, valuation and care of art, and will include all tangible assets. This provides information much more akin to the management of financial assets which will be intuitive, flexible and visually exciting."