Appraisal Services
What Do WE Appraise?
We value American and European artifacts from the 16th to the 21st century.
CONTEXTUAL ARTIFACTS
RARE BOOKS, MANUSCRIPTS & EPHEMERA
SPECIAL COLLECTIONS
CULTURALLY SIGNIFICANT MATERIALS & ARCHIVES
FINE & Decorative ART
PAINTINGS, WORKS ON PAPER, PRINTS & CONTEMPORARY CRAFT
WHAT DO WE NOT APPRAISE?
We do not appraise the following categories: Coins, Stamps, Sports memorabilia, Model trains, Dolls, Gems, Fine jewelry, Taxidermy, Wine & Weaponry.
WHAT IS AN APPRAISAL?
The Appraisal Foundation Board defines an appraisal as “the act or process of developing an opinion of value; an opinion of value.” An appraisal report is a written document that states an opinion of how much a property is specifically worth in a particular context. A qualified appraiser conducts proper research, follows current appraisal methodology, and objectively reports the value conclusions. Thus, an appraisal provides useful information that can impact how the property is viewed and treated.
WHy Do You Need an Appraisal?
Simply put, a professional appraiser answers the question “What’s it worth?” The answer to this question is influenced by the purposes and intended users of the appraisal. Below are a few common reasons an appraisal report is needed:
ESTATE PLANNING – FAMILY DIVISION & TAX PURPOSES
INSURANCE – COVERAGE, CLAIMS & UNDERWRITING
GIVING – DONATION (CHARITABLE CONTRIBUTIONS) & GIFT TAX
LEGAL SUPPORT – EXPERT TESTIMONY & LITIGATION
PERSONAL KNOWLEDGE – OBJECT INFORMATION, PROVENANCE & MARKET TRENDS
Two Types of Appraisal Reports
As defined by the Uniform Standards of Professional Appraisal Practice (USPAP) set forth by the Appraisal Standards Board, a Congressional subcommittee.
Appraisal Report summarizes the appraiser’s analysis and rationale for the conclusions of value. (Uses: Insurance, Estate Valuation, Litigation, IRS, Donation, etc.)
Restricted Appraisal Report state the appraiser’s conclusions of value. It is provided when the client is the only intended user or when additional named non-client intended users do no require additional rationale. (Uses: Potential Sale, Estate Planning, Personal Knowledge, etc.)
Common Types of AMOUNTS
As defined by the International Society of Appraisers (ISA)
Determine Fair Market Value: the price that property would sell on the open market between a willing seller and a willing buyer in a public sale, neither being under any compulsion to buy or sell and both having reasonable knowledge of all relevant facts.
Estimate Replacement Value: the amount it would cost to replace an item with another of similar or like quality within a reasonable amount of time in the relevant marketplace.
Calculate Present Worth: the current amount that would be the equivalent of income generated by the sale of the property at some point in the future.
The same item may have several different valuations depending on the intended use of the appraisal. For example, the retail replacement value of an 18th-century Chippendale chair for insurance scheduling may be a higher amount than its resale value in the current market. Read the art market article “Understanding Valuation Terms” for a further explanation,