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Tips for Hiring and Working with an Appraiser

 

Know When To Get Something Appraised

  • Make sure you have valuable items appraised for insurance purposes. You may want to add a rider to your homeowner’s insurance to cover them.
  • Are you donating an item to charity? If its value is more than $5,000, you will need an appraisal to prove its value for the IRS.

Hire a Qualified Appraiser

  • Hire an accredited appraiser to ensure that you are receiving an ethical and accurate appraisal. To find an appraiser near you, see our "Find an Appraiser" page or call (800) ASA-VALU.
  • Hire an appraiser who works in the specialty you need. The American Society of Appraisers certifies appraisers in six disciplines: gems and jewelry, business valuation, personal property, machinery and technical specialties, real property, and appraisal review and management.
  • Ask for a résumé and references from a potential appraiser.
  • Don’t use an appraiser who offers to buy the item or charges a percentage of the item’s value.

Tips for Working With an Appraiser

  • Bring the item, not a picture, to the appraiser to examine.
  • Tell the appraiser anything you know about the item’s origin or where it was purchased.
  • The appraiser will take a few days to research the item’s history and the marketplace.
  • You should receive a written report describing the item itself, the reasons for its valuation, and which type of value was done: replacement value, fair market value, or market value.

Tips To Manage Your Valuables

  • Preserve items by not hanging them in direct sunlight; works on paper should be protected with UV glass or Plexiglas, and textiles should be kept in dry, insect-free areas.
  • It is best to keep things in their original state. Know that painting, varnishing, or altering an item may lower its value.
  • It is advisable to get an item re-appraised every three to five years. However, for items in highly volatile markets, it is best to get them re-appraised annually. In that case, your appraiser can check the market situation for you and revalue the items for a nominal fee.