FREQUENTLY ASKED QUESTIONS
What is Your Fee Structure?
The Art Appraisal Firm charges on a hourly fee for service basis at $350. Higher hourly fees may apply to expert witness or litigation support services. We pride ourselves on serving our clients efficiently. Meticulous time logs are kept of time spent and an itemized accounting will accompany your final invoice. Under normal appraisal circumstances, we estimate most projects to run under two hours per work of art appraised. This estimate includes a personal inspection of your artwork, photography of the item or items, travel time, market research, and generation of the appraisal report. If your appraisal involves less than ten items, the cost per item may be slightly higher, as travel, set up and document preparation fees are better absorbed over a larger project. We look forward to discussing your specific appraisal needs and goals. Due to the time involved in a conducting a competent written appraisal report, our minimum fee is $2,500. Our minimum fee for IRS use appraisals is $3,500. We do not provide informal or verbal opinions of value.
Do You Provide "Oral" Appraisals
At the Art Appraisal Firm, we believe we best serve our clients by providing written appraisal reports, researched and developed in compliance with the high standards set by The Appraisal Foundation's Uniform Standards of Professional Appraisal Practice (USPAP). Some qualified appraisers also legitimately run second businesses such as brokering or auction services. These professionals are more likely to be willing to provide free oral estimations of value for collectors simply curious about the value of their artwork. If you do not need a formal written report for insurance, estate tax or another formal function, we generally suggest consulting with a reputable auction house where the outcome of any potential future sale will be transparent. Beware of individuals offering valuation services offering to purchase the property outright, or who are not practicing brokering services in compliance with USPAP.
Don't All Art Appraisers Have Similar Qualifications?
No. Appraising is professional discipline with distinct qualification criteria. Many promoting "art appraisal" services have not completed any professional education or testing in appraisal theory, practice or methodology, and may sell art with a bias to a particular market. Art Appraisal Firm appraisers are accredited or certified members of the International Society of Appraisers, one of the Appraisal Foundation's sponsoring professional organizations. Foundation sponsors are bound to issue credentials in compliance to rigorous training and testing standards set by the Foundation's Appraiser Qualifications Board.
Earning a designation in a recognized professional appraisal association is important because it confirms the appraiser has earned a valuation specific credential, is involved with the profession, has peer recognition, has access to updated information, and is subject to a code of ethics and conduct. Your appraiser should be willing to verify their professional standing on the public registry of one of the Appraisal Foundation's three professional personal property appraisal organizations. Mrs. Rosenberg's credentials may be found here: http://www.isa-appraisers.org/find-an-appraiser/profile/2124/Cindy-Charleston-Rosenberg
Earning a designation in a recognized professional appraisal association is important because it confirms the appraiser has earned a valuation specific credential, is involved with the profession, has peer recognition, has access to updated information, and is subject to a code of ethics and conduct. Your appraiser should be willing to verify their professional standing on the public registry of one of the Appraisal Foundation's three professional personal property appraisal organizations. Mrs. Rosenberg's credentials may be found here: http://www.isa-appraisers.org/find-an-appraiser/profile/2124/Cindy-Charleston-Rosenberg
What Are Your Qualifications To Appraise My Property?
ISA Qualified Appraisers:
- Have formal education in appraisal theory, principles, procedures, ethics, and law.
- Are up to date on the latest appraisal standards.
- Participate in continuing education and have been trained and tested to ensure their competence.
- Are specialists in the type of property you want appraised and have the expertise to know how to value it correctly.
Why do I need to pay an appraiser to conduct market research.
Shouldn't art appraisers be familiar with the value of the work of most artists?
The Uniform Standards of Professional Appraisal Practice (USPAP) requires appraisers across all disciplines to conduct current market research on every item appraised and retain this information in the work file. This is not only good appraisal practice, but allows for dynamic changes in the marketplace and ensures that the comparable sales records that were used to determine value are available should your appraisal be challenged for any reason by an insurance company, the IRS or any other third party.
How Will You Handle Items Outside Your Area of Expertise?
A good appraiser does not overstep expertise. The Art Appraisal Firm recognizes many areas of art appraisal specialty knowledge. Mrs. Rosenberg's expertise is in American Art. Our firm also employs a wide variety of expert art consultants and art historians to help identity and confirm value for artworks outside our areas of specialization.
Will You Authenticate My Work of Art?
Authorship is often the most critical value-driving characteristic for important works of art. Often there is a singular expert, or panel of experts, recognized as the authentication authority for a specific artist. With rare exceptions, appraisers are not qualified to offer opinions of authenticity. Given the opacity of the art market, the commonality of provenance gaps and other authentication challenges, if there is a question of authorship appraisers should consult on your behalf with the recognized authority before concluding value. Appraisal reports should disclose the basis of any assumptions of authenticity, and these assumptions should have a credible basis. Assumptions of authenticity without a stated basis may reflect a lack of professional diligence. Our firm's founder, Cindy Charleston-Rosenberg is a nationally recognized expert on the appraiser's responsibility to confirm authenticity and has published and presented widely on this issue.