Common Mistakes Made Finding An Appraiser To Value Your Art and Antiques - Spring 2025

Appraiseit@arttrak.com; 972-239-4620 - https://arttrak.com/appraisal-services

. Not Verifying Specialized Expertise:

• Hiring a generalist for highly specialized items: Just because someone is a "personal property appraiser" doesn't mean they're qualified to value a rare Impressionist painting or ancient Egyptian artifact. Art and antiques encompass vast fields. You need an appraiser with demonstrable expertise in the specific type of item you have (e.g., 18th-century furniture, contemporary art, Asian ceramics, vintage jewelry).

• Not checking professional affiliations and certifications: Look for appraisers who are members of reputable professional organizations for personal property appraisers, such as:

  • Appraisers Association of America (AAA)

  • American Society of Appraisers (ASA)

  • International Society of Appraisers (ISA) These organizations often require rigorous education, examinations, and adherence to ethical standards (like the Uniform Standards of Professional Appraisal Practice - USPAP). Look for higher levels of membership or certifications (e.g., ISA CAPP).

  • 2. Misunderstanding the Purpose and Type of Appraisal:

    • Not clearly defining the "intended use" of the appraisal: The value of an item can vary significantly depending on why you need the appraisal. Is it for:

      • Insurance replacement value? This is usually a retail replacement cost.

      • Estate tax purposes? This typically requires "Fair Market Value" as defined by the IRS.

      • Charitable donation? Also often "Fair Market Value" according to IRS guidelines.

      • Equitable distribution (e.g., divorce)?

      • Sale or purchase (liquidation value vs. retail)? Failing to specify the intended use can lead to an appraisal that is useless for your actual needs.

    • Expecting a "free" or "quick" valuation: Serious, professional appraisals require time, research, and expertise. Be wary of anyone offering a free or extremely low-cost "valuation" without proper inspection or research. This is usually just an informal estimate and not a defensible appraisal.

    • Confusing an appraisal with a sales offer: A qualified appraiser provides an unbiased opinion of value; they should not offer to buy your items. If an appraiser tries to buy your property, it's a major conflict of interest and a red flag.

    3. Poor Preparation and Communication:

    • Not providing provenance or documentation: The history of ownership (provenance), receipts, old appraisals, exhibition records, or certificates of authenticity can significantly impact an item's value. Not having this information ready for the appraiser can hinder their research and affect the accuracy of the appraisal.

    • Failing to disclose condition issues: Be honest about any damage, repairs, or restorations. Appraisers will discover them, and transparency helps them accurately assess the item.

    • Not having clear photos (for remote appraisals): If opting for an online or remote appraisal, high-quality, detailed photos from multiple angles, including any signatures, marks, or damage, are crucial for the appraiser to do their job effectively.

    • Trying to influence the appraisal outcome: It's unethical and unprofessional to try to pressure an appraiser to arrive at a specific value. They are bound by ethical codes to provide an unbiased assessment. While you can provide factual information, dictating the value is a mistake.

    • 4. Neglecting the Appraiser's Process and Report:

      • Not understanding the appraiser's fee structure: Reputable personal property appraisers typically charge an hourly rate or a flat fee per item/project, not a percentage of the appraised value. Charging a percentage creates a conflict of interest. Always get a written estimate or contract upfront.

      • Ignoring the importance of a detailed written report: A professional appraisal report should be comprehensive, including:

        • The appraiser's qualifications.

        • The purpose/intended use of the appraisal.

        • A detailed description of each item (including artist/maker, dimensions, materials, condition, signatures, marks).

        • Provenance (if known).

        • The valuation methodology used.

        • Comparable sales data and market analysis.

        • A clear statement of value.

        • Photographs of the items.

        • A signed statement by the appraiser.

      • Not reviewing the report for accuracy: Read the final report carefully. If you find factual errors or omissions, contact the appraiser to discuss them.

      By being diligent in your selection process, clearly communicating your needs, and understanding the professional standards of personal property appraisal, you can avoid these common mistakes and ensure you receive an accurate and reliable valuation for your art and antiques.