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Q..
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WHAT IS PERSONAL
PROPERTY? |
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A..
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It is property that is tangible and movable. It does not include
real estate (real property) or businesses. |
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Q..
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WHY SHOULD
ANTIQUES, COLLECTIBLES AND PERSONAL PROPERTY BE APPRAISED? |
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A..
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If you wish to:
Obtain specific insurance coverage
Claim an insurance loss on
personal property
Settle an estate
Value property in a divorce
settlement
Claim a loss for tax purposes
Itemize deductions for charitable
contributions
Evaluate personal property prior
to sale or other disposition
Know the value of your heirlooms
or collections
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Q..
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ARE THERE
DIFFERENT TYPES OF APPRAISALS? |
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A..
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Yes.
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Q..
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WHAT IS A
CERTIFIED APPRAISAL? |
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A..
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It is a documented estimate of value based on the knowledge and
research of an individual who has been certified to appraise
personal property. |
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Q..
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WHO CERTIFIES
APPRAISERS? |
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A..
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Personal property appraisers are certified and/or accredited by
educational institutions or by professional associations of other
appraisers. There is no government requirement to have a license at
this time. |
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Q..
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WHAT TRAINING
WILL THEY HAVE? |
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A..
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The certified appraiser will have training and experience in the
methods of verifiable research, education on the legal aspects of
appraising, the ability to provide appraisal documents that will
meet the requirements of the insurance industry, the legal
profession, and the Internal Revenue Service. They will also be
willing to serve as an expert witness in any matter relevant to
their professional performance. |
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Q..
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HOW DO YOU
SELECT AN APPRAISER? |
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A..
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The personal property appraiser you hire should be an Accredited
Member of a professional association of appraisers. Such
associations require continuing education, testing and adherence to
the Uniform Standards of Professional Appraisal Practice (USPAP) as
promulgated by the Appraisal Foundation in Washington D.C.
The Appraisers National Association is such as organization.
Membership in the ANA is the public's assurance that its members
will:
Perform competently, professionally and
ethically
Treat all appraisals in strict
confidence
Support their conclusions in a
court of law
Avoid all aspects and actions that
might constitute a conflict of interest
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Q..
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HOW DO I GET A
REFERRAL TO AN APPRAISER? |
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A..
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Appraisers National Association provides the public with a referral
service to its membership. It is in our interest to connect you to
the most competent and qualified appraiser for your specific need.
The ability to find an appraiser is included in this website by
using the searchable database in the "SERVICES" section.
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Q..
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HOW DO
PROFESSIONAL APPRAISERS CHARGE FOR SERVICES? |
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A..
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Your appraiser should charge by the hour, or a specified amount
agreed to before the appraisal. Fees charged by individual
appraisers will vary, depending on the type of appraisal required.
You should never engage an appraiser who charges for services based
on the value of items, who is willing to take items in lieu of cash
compensation, or who expresses an interest in purchasing items
included in the appraisal. These things constitute a clear conflict
of interest. The fee for your appraisal should be based on the time
involved in the examination, inventory, research, and documentation
of your property. It may also include compensation for travel time.
Extraordinary research, court testimony, and the use of outside
consultants may result in additional fees. |
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