What’s it worth? Hire an appraiser

Like the participants on PBS’ Antiques Roadshow, you probably hope that the painting your Aunt Annie left you is worth something.

The only way to know for sure is to have an appraisal done. You should have anything of value appraised, even if you don’t plan to sell it any time soon, so that your possessions can be properly insured. (Make sure to contact your insurance agent after having an appraisal done, to see if additional insurance is needed.)

Finding an appraiser
If friends or colleagues cannot recommend an appraiser they trust, contact the Appraisers Association of America at (212) 889-5404 or online at www.appraisersassoc.org. Or, contact the American Society of Appraisers at 1-800-ASA-VALUE or at www.appraisers.org.

When calling, inform the organization of the type of antique you need evaluated, and also take the opportunity to inquire about the fees and procedures you are likely to encounter, iVillage.com recommends.
One last step: Before making a final decision, ask to speak with former clients about their experience with a potential appraiser.

Once You’ve Hired an Appraiser

• Expect to pay for each appraisal. The charge should be based on the amount of time it takes to inspect and research an item and to prepare a written document. Note that the cost should not be based on a percentage of the value of an appraised object.
• An appraiser see must see the item in person, not via a photograph or e-mail.
• A competent appraisal includes the following: a cover document explaining in detail what type of value is being sought (“purpose”) and how the appraisal is to be used (“assigned use”); the methodology and resources used; a complete and accurate description of the item so that it can be identified without photos; the date and location of the inspection; and the appraiser’s qualifications and signature.
• Do not accept an appraisal if it is handwritten or unsigned; the appropriate “purpose” or “assigned use” are not stated; the item is beyond the appraiser’s expertise; the appraiser is not willing and able to defend it in court. For more information, see the International Society of Appraisers’ guide Be Certain of Its Value.

Copyright 2008 BadgerBoomers.com

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