The Fine Art of Preparing for your Appraisal

Whatever the reason for having an appraisal made of your personal property, you can help to ensure a document produced in a timely manner by following a few simple steps:

1. Start your search for the right appraiser early, and make that appointment with as much lead time as possible. Many appraisers are booked in advance, especially for large projects. Appraisals unfold in three parts: the inspection, the research, and the final preparation of the written document. Adequate time for each of these steps lets the appraiser do the best job possible for you.

2. Decide in advance which items you want to include in the appraisal, so that when the appraiser arrives at your house for the on-site inspection, you are prepared to get started. If your appraiser is working on an hourly fee basis, time spent waiting while you search for items in the attic could cost you money. At the very least, know where the items to be appraised are located.

3. Gather all sources of documentation before the appraiser arrives. This would include:

• Sales receipts
• Certificates of authenticity and/or any letters or information from the sales gallery where the object was purchased
• Old appraisals
• Insurance policies listing the items to be appraised
• Any other forms of documentation which establish the provenance of your item(s), including old photographs or letters referring to the objects.

As stated above, research is the central part of the appraisal process. Any help you can give the appraiser may result in speeding up the time it takes to complete your appraisal – and may save you money, too.

The appraiser will photocopy these documents, and include copies of the most pertinent of them in the final appraisal. Additionally, the appraiser keeps copies in his confidential workfiles for 5 years, as required by USPAP. This means that you will have several sources in different places should the original documents become lost.

If you produce information which points to a different valuation for an item after the appraisal is completed, the appraisal will have to be amended and you can incur additional charges.

4. Prepare to have your personal property moved and examined for proper inspection and photographs. For instance, artwork will have to be removed from the walls. Furniture will often have to be moved. It always helps to have a table cleared to serve as a workspace for the appraiser.

These easy steps can all contribute to an efficient, cost-effective process that results in an accurate appraisal.

Submitted by Judy T. Nelson, ISA AM
Guernsey and Associates Fine Art Appraisals