We Don’t Know Everything

Appraisers are frequently asked to participate in fund raiser Appraisal Fairs. This is a real challenge as even though an appraiser may specialize in a particular item, that item may not show up at the appraisal fair.  Instead you see various items from Grandma’s teapot to Uncle’s picture that hung on the wall forever.  If you are under thirty, forever may only be you remember it being there for 20 years! The Appraisal Foundation has adopted  The Uniform Standards of Professional Appraisal Practice requires an appraiser to be “qualified” to conduct an appraisal.  Among the qualifications required are education, experience, membership in a recognized appraisal or auction association, and product knowledge.  Few of us can give an estimated value off the top of our heads.  Just as we do research in preparing written appraisals, research is often required in estimations of value.  Because few people remember the low end of a value, the appraiser must be very careful to document what the individual was told.  According to USPAP an appraiser who gives a verbal appraisal is as liable as one who has a written, research appraisal with notes and documents to back up the value.  Next time you want an appraisal, ask the appraiser what standards do you write to and are you experienced in valuing this kind of item.  Remember the tv show appraisers have access to computers and other appraisers to assist them in estimating value.

About askbeverly

Who am I? I am an individual who values the contents of people's homes for a variety of reasons. I'm called a "personal property appraiser" and certified by the International Society of Appraisers which requires educational courses, examinations, keeping up with current tax laws and every two years taking a course called the Uniform Standards of Personal Property Appraisals. Every five years, I am required to keep up my ISA certification by proving I have a minimum of 100 personal property development credits - that's course hours and actual research time spend on appraisal work. As a long time collector I have turned a hobby into a profession and for the last 22 years worked as an independent appraiser. My specialties include china, pottery, sterling silver, crystal and glassware, costume jewelry, Carnival Glass, Belleek Irish porcelain, collectibles and furniture. Why do you need an appraisal? The purpose of an appraisal may be for obtaining insurance, probate of an estate, equitable division of an estate or divorce, or a damage claim. I also give lectures on several different topics to antique clubs, provide consultations in person, by phone and through email. No my service is not free! But I will also advise you if I believe it is in your best interest to do research on your own if you just want an idea of what something is worth rather than pay for an appraisal.

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