| What
do I look for in an appraiser? |
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The Personal Property appraisal industry is un-regulated; a
Personal Property appraiser does not require a license to practice.
It is therefore crucial to find an appraiser who:
| • |
Has Membership/Accreditation/Certification with a recognized,
professional appraisal organization such as the International
Society of Appraisers, the American Society of Appraisers
or the Appraisers Association of America |
| • |
Has a formal education, background in or experience
with the type of property for which you require an appraisal |
| • |
Has an understanding of the correct market for your
property and the ability to apply the correct principles
of valuation |
| • |
Adheres to USPAP standards (see section below) |
| • |
Adheres to a Code of Ethics and/or Professional Conduct
and the Report Writing Conventions of the appraisal
organization to which they belong |
| • |
Has a fee structure based on a system OTHER THAN a
percentage of the end appraised value; most appraisers
charge per hour, per diem or a flat rate for the project |
| What
should I expect in my appraisal report? |
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In the 1980's, The Appraisal Foundation (a non-profit organization
in the United States) worked with the recommendations of industry-related
professions to define ethical and performance standards for
the valuation profession. Known as the Uniform Standards of
Professional Appraisal Practice, or USPAP, these guidelines
exist as a 'generally accepted set of standards of professional
appraisal practice'. MacIntyre Appraisals produces reports that
are USPAP-compliant. Thus, your report will include:
| • |
Client Name and Address (or a reference number) |
| • |
Intended Users of the Appraisal |
| • |
Purpose of the Appraisal; Insurance, Donation, etc. |
| • |
Type of Valuation Used & Definition; Replacement
Cost, Fair Market Value, etc. |
| • |
Market in which the valuation is applied and accompanying
market analysis |
| • |
Acquisition Information and Provenance (if available) |
| • |
Statement of Appraiser Disinterest |
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Statement of Assumptions and Limiting Conditions |
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Statement of Fee Structure |
| • |
Effective Date (date of inspection or date or appraisal
preparation, etc.) |
| • |
Statement of Physical Inspection of Property |
| • |
Thorough Description of Appraised Objects |
| • |
Condition of Appraised Objects |
| • |
Market Comparables (and related analysis if necessary) |
| • |
Statement of Value |
| • |
Signature of Appraiser |
| • |
Appraiser Qualifications |
| • |
Statement of Number of Pages in Report |
| • |
A Photograph (with close ups of marks, signatures, impressions,
etc.) |
MacIntyre Appraisals does not engage in the buying or selling
of personal property and can therefore assure you a valuation
free from bias and conflict-of-interest.
| What
does the process entail? |
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The first step is to call and discuss your appraisal requirements.
Once determined, a consultation is scheduled where the property
to be appraised is inspected, photographed and detailed notes
are recorded. It is helpful if old receipts, past appraisals
or any documentation related to the history or market history
of the piece are made available for reference.
It is much preferred to personally examine the property to
be appraised. If this is not possible, please Contact
me to determine the best way to proceed.
| How
long will it take? |
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|
|
The length of time required for the appraisal is determined
by the number of items you have and the nature of the appraisal
requested. MacIntyre Appraisals will endeavour to have your
completed appraisal document to you in as timely a manner as
possible.
| How
much will it cost? |
|
|
|
Professional fees are competitive and charged on an hourly
basis (minimum one hour). MacIntyre Appraisals can provide
a quote upon speaking with you about your appraisal requirements.
Please note that remuneration is not calculated on a percentage
of end value. Travel and disbursements are extra.
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