APPRAISAL SERVICES How Are They Performed?
The appraisal process begins with a qualifying discussion with you to determine the purpose and scope of the objects to be appraised. The valuation approach is then determined, and an estimated fee is given based on the hours of work anticipated to complete the assignment. Next, an onsite inspection is arranged to examine, measure and photograph. Comparable objects/works are researched using selected academic resources, online databases including gallery and auction prices, and exhibition and catalogue raisonnés.
THE APPRAISAL REPORT
You will receive a formal written report that presents:
signed certification
the stated purpose, function, and appraisal method employed
the data and sources examined, and the analysis which was applied
the marketplace context in which values are determined
a full description of objects and photographs with artist biography
the value conclusion
summary of values by category and location
appraiser’s credentials
All our appraisal reports meet IRS and Insurance Industry Standards. Our appraisals are conducted impartially, with utmost attention to detail and accuracy, and backed by excellent research. We adhere to the highest ethical standards of conduct and professionalism.
TYPES OF APPRAISALS
INSURANCE APPRAISALS are used to determine the correct coverage to carry on personal property policies to protect against fire, theft or other disasters. Insurance appraisals include written descriptions and photographs which facilitate claim settlements by providing detailed inventories and itemized replacement costs.
ESTATE APPRAISALS help the executor, accountant and attorney determine tax on the personal property of a taxable estate. Estate appraisals provide fair market values and are written in full accord with Federal Treasury Regulations and Internal Revenue Service guidelines.
CHARITABLE DONATION APPRAISALS are used to determine the appropriate amount for Federal tax deductions and are written in full accord with requirements of the Internal Revenue Service (IRS Form 8283) and Treasury Regulations.
EQUITABLE DISTRIBUTION APPRAISALS designate appropriate values to ensure fair division of property in divorces and business dissolutions.
RESALE APPRAISALS are appropriate for those who want to sell their personal property.
This type of appraisal estimates the appropriate market valuation for property used by wholesalers selling to the trade as well as dealers buying for resale to the public.
DAMAGE AND LOSS APPRAISALS determine replacement costs for claims settlements due to fire, flood, theft or other disasters. The appraisal report includes cost of restoration and replacement value after restoration to determine the compensation due to the client.
Photos top: International sterling silver tea set, Prelude pattern;
Tuttle sterling silver place setting, Lamerie pattern