APPRAISALS

Mar 12

Section of sculpture made from brass and strings, resembling a Greek lyre musical instrument

Brass with strings, 1956. Sculpture by Dame Barbara Hepworth, permission granted by Barbara Hepworth © Bowness; shown in close-up (full image here)

Valuing Your Personal Property

An Appraisal Is…

A legal document as important as a will. It is the only way to accurately describe and value your property. A properly prepared appraisal by a USPAP compliant, tested and accredited appraiser will result in an opinion of value that will answer market-related questions regarding your property. The same way you wouldn’t trust the preparation of your will to less than an experienced attorney, you would not want to trust making future decisions based on the value of your property to less than an experienced, qualified appraiser.

An appraisal report should answer questions of value. It should be a cohesive, logical, readable document that accomplishes its intended use with precision and technical accuracy. An appraisal is an argument for value and must contain ample supporting information. Every ARAI appraisal adheres to the ethical and professional guidelines of the Appraisal Foundation's Uniform Standards of Professional Appraisal Practice (USPAP) and to the high standards of the ASA. ARAI appraisals are recognized and accepted by all insurance companies, lending institutions, banks, courts and the Internal Revenue Service (IRS). As an alternative, abbreviated or limited appraisals to meet special needs can also be made available.

You Need an Appraisal…

For many different reasons:

Insurance: To prove irrefutable possession at the date of valuation, provide needed protection in the event of a loss, and to assist in establishing proper insurance coverage.
Estate Valuation & Estate Planning:To clarify questions of property value, facilitate the disposition of estate tax reporting requirements, assist heirs with distribution and/or de-accessioning property; to assist financial planners and related professionals in establishing a client's net worth, and as a basis for judicious estate planning.
Property Division: To assist attorneys and their clients in matters of equitable distribution. Corporate uses in this category include mergers/acquisitions, and loan collateral.
Related Insurance Matters: To assist adjusters by properly identifying and valuing property in damage/loss matters to facilitate claim settlements and avoid disputes. Insurance companies are assisted by proper identification and valuation of property in investigative matters that may save the company substantial money in claims settlements. Major losses claimed when no insurance is in place are affected by Federal jurisdiction as they may relate to allowable income tax deductions.
Charitable Contribution/Gift Tax: To assist the donor in obtaining accurate, documented valuations which meet Federal requirements and will be accepted by the Internal Revenue Service. Recent changes in the law (Pension Protection Act, 2006) affect the process of charitable contribution.

We Appraise…

Many types of personal property, including the following:

Fine Art
Decorative Arts (furniture, silver, ceramics)
Antiques
Oriental Rugs & Other Textiles
Special Collections
Residential/Office Contents

Specialists are also available to appraise books and manuscripts, as well as gems and jewelry.

Fees…

For services, are charged at an hourly, per diem, or flat rate, depending on the assignment. It is unethical to charge a fee based on a percentage of value or on a contingency basis. Comprehensive fee schedules are available upon request.

Speaking of Our Appraisals…

Accolades

Lily B. Rupp
(Sebastopol, CA)

“If five stars are the best, then I would
give her and her staff six stars.”

Merrill Berman
(New York, NY)

“I was most impressed by her professionalism, reporting thoroughness, the manner in which the assignments were addressed, and management skills.”

Private Client
(Palm Beach, FL)

“…a remarkable and
trustworthy resource…”

Margaret Scott Rauch
(New York, NY)

“…the first person
to call when there is a question about anything
concerning our personal property and its value.”

Robert Cowan
(Los Angeles, CA)

“Her ability to understand the properties, the extensive research conducted and her communication skills in the written appraisal reports were exceptional.”

Lori Schumann
(New York, NY)

“Exemplary client services, expertise and her understanding of the art market are among the many professional qualifications that contribute to continuing assignments.”

Dr. Malcolm Thomson
(New York, NY)

“…a broad expertise
seldom available from
a single appraisal firm.”

Albert S. Messina, Managing Director
(Silvercrest Asset Management Group,
New York, NY)

“…the utmost professionalism,
integrity and skill…”

Susan Taxin Baer, Esq., Principal Attorney
(The Law Offices of Susan Taxin Baer,
White Plains & New York, NY)

“Her knowledge,
extensive experience,
and research skills
are formidable.”

Christine Bower, EA
(C. A. Bower, Inc., San Francisco, CA))

“…managed, and provided appraisal
services for an extensive estate matter that included many different types of art and
other personal property.”