Anytime you call an appraiser for the value of a particular item of personal property, make sure you know what you are asking. The appraiser could give you the wrong value and you wouldn't be properly insured…too low or too high. The same goes if you are looking to sell an item or are looking to divide it equitably between heirs of an estate. The value could be too low and you might lose a lot of money. What may not be of value to YOU, could be of GREAT value to someone else and the knowledgeable appraiser will know that. If you are making a charitable contribution in order to take a deduction on your income tax return, there are certain Federal Guidelines that MUST be followed and your appraiser should know that as well. The same item may have several different values based on your needs. The educated appraiser will know the proper methodology and research to obtain the value that best meets those needs.
The professional appraiser knows what questions to ask in order to properly evaluate your personal property for all different forms of value. You will receive a written report that not only gives you the proper opinion of value based on facts researched, but also the information on how that value was obtained.
The professional appraiser knows how the values are gathered and how to write the report prescribed by certain report writing skills taught through one of the major Personal Property Organizations or recognized On-Line Appraisal education courses that keep the appraiser up to date with all the proper revisions made by the Federal Guidelines as well as the proper methodology and research techniques.
Insurance adjusters, estate planners, attorneys, judges, CPA's, banks, governmental agencies, etc., all depend on a qualified and trained professional appraiser to meet their needs. Many people do not research their appraiser and wind up with an inaccurate appraisal that could cost them a lot of money if incorrect for Federal Tax Returns or by paying too much or too little to their insurance company to protect their household treasures.
There are a few questions that you need to ask all appraisers when choosing the right one for your needs.
By asking these simple questions, you will be able to make an educated choice for your appraisal needs.
Melinda continues in Betty's footsteps to assist her clients and the community by taking the time and their interest to heart at all times during her work.
Return to Top of This Page