Frequently Asked Questions

How much do your services cost?

Fees are contingent on the kind of service and scope of work required to produce a quality product. They are based on hourly rates, by assignment or a set fee per object / project. Initial consolations for all projects are $200 per hour, plus travel costs if outside the Phoenix metro area.

How do your appraisal services differ from your other services?

USPAP compliant appraisers must remain neutral and objective in their valuations, ensuring that their assessments are unbiased and based solely on factual data and established methodologies. This division of roles establishes and ensures public trust in the profession. All other services will be performed in the best interest of the client.

What is needed for an art appraisal?

In order to streamline the appraisal process, the property needs to be readily available for inspection and photography. Provide any paperwork (i.e. sales receipts, acquisition records, conservation reports, catalogues or books that include information about the property or the maker, and past appraisals) to help save research time.

Does the property need to be seen in person?

Depending on the intended use of the appraisal and the nature of the property, the property may need to be seen in person. Comprehensive evaluations include inspection of the property and recording of all details, including measurements, medium, condition, and photographing. Since appraisers act as identifiers, valuers, and witnesses, personal inspections enable the appraiser to fulfill their “witness” function.

“I just want to know what it’s worth.”

Determining a property’s value is not that simple, because there are more than one type of value to consider. The purpose of the appraisal will help determine which of the following types of value are appropriate for the assignment:

• Replacement Value
  (Used primarily for insurance coverage)
  The highest price—in terms of cash or other precisely revealed terms—required to replace a property with another of similar age, quality, origin, appearance, provenance, and condition within a reasonable length of time in the relevant market. This includes the anticipated costs incurred in the replacement of property such as shipping, commissions to dealers or other commissionaires, and buyers’ premiums for auction purchases. Source: ASA Personal Property Monographs. Citation: ASA Personal Property Committee, Monograph 2, 2012
• Replacement Value – Comparable
  (Narrows Replacement Value to properties that require the Sales Comparison Approach to be used)
  The price, in terms of cash or other precisely revealed terms, that would be required to replace a property with another of similar age, quality, origin, appearance, and condition within a reasonable length of time in an appropriate and relevant market. Source: ASA Personal Property Monographs. Citation: ASA Personal Property Committee, Monograph 2, 2012
• Market Value
  (Used for purchase/sale of property)
  The most probable price a property should bring in within a competitive and open market and under all conditions requisite to a fair sale—the buyer and seller each acting prudently and knowledgeably as well as assuming the price is not affected by undue stimulus. Market value is similar to fair market value except that the provision for lack of compulsion to buy and sell is removed and the assumption of a sale within a specified time frame is added. Source: 12 CFR §225.62(g)
• Fair Market Value
  (Used for estates taxes, estate planning, charitable contributions, gifts)
  The fair market value is the price at which property would change hands between a willing buyer and a willing seller, when neither is forced to buy or sell, and when both have reasonable knowledge of all relevant facts.
• Fair Value
  (Used for mergers and acquisitions, sales and purchases of businesses, and financial reporting such as financial statements or balance sheets)
  Fair Value is the method of valuing business assets (and liabilities) for financial reporting (GAAP–Generally Accepted Accounting Principles).
• Liquidation Value
  (Orderly–Used for estate sales, sale at auctions)
  The most probable price, in terms of cash or other precisely revealed terms, for which a property changes hands under forced or limited conditions in an orderly manner—generally advertised with reasonable time constraints, in an appropriate and relevant marketplace, and with knowledgeable buyers.
• Liquidation Value
  (Forced–Used for bankruptcy, quick sales)
  The most probable price, in terms of cash or other precisely revealed terms, for which a property will change hands if sold immediately. Forced liquidation does not allow time for finding the most advantageous marketplace. Nor does it allow general advertisement of the sale.