Is an Appraisal the Way to Go?

Getting an Appraisal photo3

My parents’ Herter Brothers furniture.  We researched it online, in books, and in museums, and then had it appraised on “Antiques Roadshow” before we sold it to a dealer.

As we approach the holidays and anticipate spending time with our families, some of us may be traveling to houses that are full of stuff and some inevitable questions are sure to arise. A discussion of “What will we do with all this stuff?” may lead to “Who will get what?” which may lead to “How much is this worth?”

Is an appraisal right for you? An appraiser can give you the value of a single piece, or can go through the entire house, in what is called a “look-see,” to tell you which pieces may be valuable. The value of an item is determined by its condition, its rarity, and its provenance or history. The stories passed down in the family about the original source of items, however, are not always accurate, says Helaine Fendleman, coauthor of Price It Yourself! and past president of the Appraisers Association of America. So you will need more than family lore to establish provenance.

A good appraiser, according to Fendleman, is someone who is sensitive and caring and who understands the financial responsibility of giving an accurate appraisal. Appraisers will charge a flat fee or by the hour. (It is illegal to charge a percentage of the item being evaluated, since this would lead to artificially increasing its value.) It’s important to hire someone you feel comfortable with and someone you feel is honest.

Some appraisers may simply assign a dollar value for the objects, but most will also shepherd you through the process of selling them, by suggesting the best place to sell it—to an antiques store, dealer, or consignment shop—and then will help you work with the store or dealer, if that is what you want.

Sometimes an appraiser will suggest that the item has little or no monetary value and that it would be more appropriate to donate it to charity than to try to sell it. Don’t be discouraged. As Fendleman says, “Every object in the world has a value; you just may not like the value it has.” And of course, the process of appraising has nothing to do with emotional or sentimental value. In some cases, finding out that a particular item has no financial worth may be a relief.

To find a professional appraiser, ask your lawyer, banker, real estate agent, or friends for a referral. The appraiser should ask probing questions in the initial interview, and you should, too. Ask what qualifies him or her to appraise your items, what their area of expertise is, and what professional organizations they belong to.

Can you estimate what something is worth without a professional appraiser? Certainly you can do your own research in the library, on the Internet, or in museums, and browse through antique shops and attend auctions to get an idea of what your special items are worth. If you have the time, researching the history and value of a favorite family item can be fun.

Online appraisals are another option, but they are only as good as the photographs you send in, and the expertise of the appraiser. If you plan to sell the item, you may want to then hire an appraiser who can see the object in person.

You can check out these professional appraisal organizations for more help.

The Appraisal Foundation is the organization that has issued the Uniform Standards of Professional Appraisal Practice (USPAP).

Appraisers Association of America, Inc. (AAA) is the oldest professional association of appraisers and is the recognized authority for standards, legal issues, and regulations. It provides a database of members that can be searched by location and by specialty.

International Society of Appraisers (ISA) has a library of over 50 webinars, some of which are free.

Linda Hetzer is an editor and author of books on home designcrafts, and food, and coauthor of Moving On: A Practical Guide to Downsizing the Family Home

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