Your antiques are important, prized possessions. Some you may have purchased, some may have been handed down through the generations. It only makes sense that you would want to find an antique appraiser who gives you an accurate description of your antique as well as a price guideline to what that antique is worth. With the knowledge a good appraiser can provide you, you will discover a little history about your antique, the value for insurance purposes and what it will be worth is you decided to resell it.
An appraisal is simply an antique professional’s opinion of your antique. This should be a written report containing information about your antique including its age and condition. The report should contain photos from several angles (especially important for insurance purposes). The appraisal report should contain the methods used to research your item and price, such as the Internet or antique price guides. The appraiser should be able to site three other items similar to yours and the price range within which they fall. Finally, the report should be signed by the appraiser and their personal qualifications should be listed.
An appraisal may be required for many reasons. You will need an appraisal for your antique in case of robbery, damage or if an item is lost. An appraisal is very handy to have if you are planning on reselling your antique. A good appraisal will give you a guide as to a reasonable asking price. Sometimes, unfortunate events happen that would require an appraisal such as divorce or death. In that case of a liquidation of an estate due to death, the Internal Revenue Service (IRS) requires an appraisal of antiques valued above a certain amount of money.
To find an appraiser, you can consult your Yellow Pages directory. If nothing is listed under Appraiser, check with local antique shops. Some owners may be appraisers, but not listed as such in the phonebook. You can also contact an appraisal organization for certified appraisers in your area. These organizations were formed to certify appraisers and set standards for which they need to adhere. The appraisal organizations are the International Society of Appraisers (ISA), the American Society of Appraisers (ASA), and the Appraisers Association of America (AAA). If your appraiser is a member of one or more of these organizations, you stand a good chance that they are honest and professional.
While membership in an appraisal organization is a good baseline, it is not always a necessity for a qualified appraiser. The first step is to make an appointment to meet with the appraiser. Take a notebook so you can write down the information they give you. You will want to ask them several questions:
1. Ask their antique specialty. Some appraisers specialize in furniture, glassware, etc. You want to make sure you get someone who specializes in the field you need.
2. Find out if they have had any formal classes or training in appraising. It is important for appraisers to have up-to-date training. Don’t be afraid to ask to see their resume or list of their credentials.
3. If they own a shop, ask them how long they have been in business. If they haven’t been in business long, ask if they worked for another shop before. See how their shop is set up and get a feeling from it as to their appreciation for antiques. Are things lovingly displayed or scattered about with dust settling on them? If there are other customers, ask them how long they have been coming there to get a sense of their relationship with the owner.
4. If you take your antique with you, note how they handle it. If it is extremely fragile, they may don gloves before handling it.
5. Ask how they research an item: online, through associates, books, etc. Ask if they do estate liquidation. Appraisers who are involved in this may need to research pricing more so than those that are not.
6. Finally, find out their appraisal fee. The IRS finds it unethical to charge the fee based on a percentage of the price and disqualifies those reports. Fees should be charge by item or hour. If you have an estate you are liquidating, they may give you a total fee for all items.
If you are not satisfied with an appraiser, don’t use their services. You can always find another appraiser. Even if you do get a report from an appraiser, you can always get a second or even third opinion.
