Playing It Safe With Appraisals

Appraising an artwork is one important step especially

if you are building a collection. Thus, you should

take every precaution there is to appraise your art

correctly. If you are new to this kind of trade, it

can be really hard on your part. The good thing is,

there are resources and appraisal organizations that

can help you comprehend appraisal needs that you have.

Importance Of Appraisal

Not only is having an appraisal important, but also

updating it is crucial, so that your insurance

coverage on specific artworks or collections can be

updated. You are usually obliged to have a current art

appraisal, if your art has insurance claims,

charitable donations, estate tax, is for equitable

distribution or for sale.

There are various kinds of art appraisals, such as

replacement value and current value. However, you

should make sure that you know each and their

differences in order to get appraisals that would fit

your needs. Here are some of the most established

appraisal associations that can help you out with your

artwork appraisal needs.

American Society Of Appraisers (ASA)

This is an organization for appraisal professionals

and other people who may be interested in the

profession of appraising. They have an international

status, and are very independent and self-supportive.

They抮e also the oldest among appraisal orgs and the

only major organization that represents all different

disciplines of the appraising industry. They started

back in 1936 and became incorporated in 1952. You can

find ASA抯 headquarters in Washington, D.C.

Appraisal Foundation (AF)

This foundation is a not-for-profit educational group

that is dedicated for the development of professional

valuation. It was established back in 1987. Since the

foundation started, they have worked hard to promote

professionalism in field.

Appraisers Association Of America (AAA)

For the field of personal property appraisal, this is

considered to be the oldest non-profit professional

organization. They抮e a recognized authority for

determining appraisal standards, setting legal issues

and regulating the profession. Their certified members

can provide you appraisals for your decorative and

fine arts, jewellery, and other household contents.

Art Dealers Association Of America Art Appraisals

(ADAA)

This association has been existing for more than

fort-five years already. Their service has been

appraising different artworks for tax purposes. A lot

of collectors and museums have asked their help in

determining the value of many important artworks,

ranging from contemporary art installations to old

master paintings. Their appraisals have exceptional

acceptance records with the IRS. They抮e also

well-known because of their professional quality.

Chicago Appraisers Association (CAA)

Don抰 be fooled by their association抯 name. They抮e

not just one appraiser with a limited knowledge in a

single area, specifically Chicago; instead, they抮e

one whole team of certified experts that are ready to

help you with your appraising needs. If you checkout

their website, you can find some helpful articles on

appraising and some of the frequently asked questions

in the field, answered.

The International Society of Appraisers (ISA)

This member-driven and non-profit association was

formed to help its member抯 needs and provide public

service by making ethical, highly qualified,

recognized appraisers for the field of personal

property appraisals. They have a lot of prestigious

members who are independent and respected appraisers,

estate liquidators, auctioneers, consultants, dealers

and gallery owners.

So, if you want to make sure that you抮e getting the

right appraisal for your artwork at hand, then try

asking for help from such credited institutions!

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