Information About Appraisals in Nassau County, Suffolk County and Manhattan, NY

What are some of the key things one should find in a correctly prepared appraisal?

  1. The purpose or intended use of the appraisal should be stated.
  2. What kind of valuation is being done - replacement value, fair market value, marketable cash value? 
  3. How the value is being arrived at, many times through comparable market data approach. 
  4. What are the professional qualifications of the Appraiser? 
  5. Statement of "disinterest" on part of the Appraiser, regarding purchase or sale of the items appraised. 
  6. Thorough description of the items appraised, including age, style, material, the maker or artist, if known, condition of items, and measurements and weights (when necessary). 
  7.  Origin of the item and history of exhibition or illustration in print, if known. 
  8. Inclusion of comparable findings, and derivation of evaluation, when necessary.

How to choose a professional appraiser?

  1. Ask for the Appraiser's affiliation with a professional association, which certifies one's qualifications and monitors the on-going education participation of its members. 
  2. Ask about the Appraiser's adherence to ethical professional standards, such as objective disinterest in the items being appraised. 
  3. Ask how much hands-on experience the Appraiser has had, and what the additional professional qualifications are.
  4. If necessary, ask for references from past clients, such as attorneys and/or museums