Personal Property Valuation
A Few Words About Standards and Ethics

There are no state or federal licensing requirements for personal property appraisers.

Anyone can say they are a personal property appraiser. Appraising Institutions and educational institutions certify and accredit personal property appraisers, not the government.

Before you select an appraiser, ask some questions.

1. Does the appraiser have formal training?

2. Does the appraiser belong to an appraising organization that sets educational standards for its memberships? Make sure the appraiser's credentials are current. Be sure to ask if the appraiser is sanctioned to appraise by his/her organization (Appraising organizations have different levels of membership.) Make sure their credentials are up-to-date.

3. Does the appraiser have current U.S.P.A.P. Certification? The Uniform Standards of Professional Appraisal Practice (USPAP), set guidelines for how an appraisal is researched and written. Real estate appraisers are required to be U.S.P.A.P. certified. A competent personal property appraiser should have 15 hours of U.S.P.A.P. training every 5 years.

4. Fees based on the value of your appraisal are considered unethical.

5. An appraiser may not appraise your items, then offer to buy them.

There are three steps to a completed, written appraisal:

1. An inventory of your items is conducted in the privacy of your home including photographs, measurements and descriptions. (Jewelry is identified using gemological equipment for accuracy.)

2. Your items are thoroughly researched with current market data to determine the age, origin, and value.

3. A written document is prepared using all of the information gathered.
 

Your completed appraisal will include the following items:

The purpose of the appraisal

The valuation method used

A definition of the valuation method

A brief itemized description of each item, including value

A statement of any limiting conditions and assumptions

Appraiser's Certification Statement

An invoice for money received

A CD with digital image of your items

A Bibliography

A Resume