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The Appraisal Process

Each item is examined and photographed by the appraiser. The condition, characteristics and dimensions of the piece are recorded. If the item is unable to be examined because it’s been damaged or stolen, the appraiser will make some critical assumptions about the piece by looking at past photographs and interviewing the owner. Once the examination process is complete, the real work begins.

The research is the most time consuming part of the appraisal process. During this phase the appraiser will research any marks found on the piece, verify any dates, locate comparable sales data, study retail markets, and consult specialty experts, if needed.

After the research is completed, the appraisal report will be written. The report is divided into three sections.

The cover document includes information like the type of value being sought, the function and purpose of the appraisal, the methodology and resources used, the date and location of the inspection, the effective date of the appraisal, the appraiser’s signature, and other data.
The body of the appraisal contains a description of each item, along with the value conclusion.
The addendum of the appraisal contains the appraiser’s qualifications to perform the appraisal. Depending on the type of appraisal, the addendum might also include the results of any tests or specific research used to help determine value.