The Purpose of a Certified Appraisal
In determining the current market or insured value of the item, the following factors are considered: historical context, quality of its creation, rarity, condition, provenance, and records of previous sales. Appraisals are done for insurance, donations, estate planning, re-sale, and corporate & private collections. When previous sales records are available, an appraiser can more readily determine a better understanding of possible value. An appraiser’s experience and judgment of the item’s importance and marketability are of impact, especially without sales records. Research includes artist catalogues, auction records, sales records, published price lists, and artist biographical information. Unlike gallery operators that attempt to create value, a certified appraiser never creates value, but rather interprets value. Members of the International Fine Art Appraisers are expected to establish and maintain the highest level of ethical conduct, professional standards, and methodological uses of appraisal valuation estimates based upon their knowledge and extensive "hands on" experience. The IFAA is very restrictive; only professionals with many years of experience and with high character are permitted as members and why it is the most respected appraisal organization. Artwork that has been valued by a Certified Fine Art Appraiser adds much to the overall value.
A quality, certified appraisal should always have an embossed seal and carry the name of: