How can I find a qualified accredited appraiser?
Referrals from attorneys, accountants and trust departments of banks, insurance agents; family and friends. Professional organizations such as ASA provide lists of qualified appraisers. Be sure the appraiser is accredited, and follows the Appraisal Foundation's "Uniform Standards of Professional Appraisal Practice."
I am not sure I need an appraisal . . . can I find out whether I need one before engaging an appraiser?
If you are not sure if your property is valuable or whether you do require an appraisal, seek information from galleries and auction companies, research at your local library as well as the internet. Then, from your telephone conversation with a professional appraiser, it might be clear that you do not need an appraisal. Or, the appraiser might come to your home or office for a minimum consultation fee to look at your artwork and determine whether an appraisal is needed.
Can I have an appraisal done from photographs?
No, an appraisal cannot be made from photographs. However, a photograph might indicate whether an appraisal is needed.
What information should I give the appraiser?
Tell the appraiser what you need to have appraised and why: insurance, taxes, distribution of an estate, etc. Provide the quantity of (from one piece to a large collection) and brief description of the objects that you wish to have appraised.
What should I expect to pay for an appraisal?
Appraisers generally charge an hourly fee or a daily rate. The fee will be based on the number of objects and an estimate of the time required for inspection and documentation, research and analysis, and preparation of a formal report. Never hire an appraiser who charges a percentage of the appraised value. Expenses include travel to location, printing, photography and outside consultations where needed. (Qualified appraisers have formal education in appraisal methodology, as well as knowledge of their field; they may call on specialists for items that are unusual or outside their field.)
Will I be provided with a contract?
Yes, with an outline of the work to be done, an estimate of the time involved, and a request for a retainer.
How do I prepare for the appraisal?
Gather as much information for the appraiser: sales receipts, provenance information, previous appraisals. Paintings should be available for inspection: if possible, removed from walls. It is helpful if fine original prints may be easily removed from behind glass. The appraiser may have assistants available for large objects and/or collections, which would be pre-arranged.
What will the appraisal document include?
You should be provided a formal, typed and bound document including detailed descriptions of each item, along with photographs of each item.
How often should I have my personal property appraised?
Insurance companies suggest every three to five years. If you are informed that particular artists or works are escalating in value, get your objects re-appraised. |