Appraisal: what to know

What the job involves, what changes the price, and what to ask a pro.

What appraisal is

An appraiser examines an item or property such as jewelry, antiques, art or equipment and issues a written opinion of value for insurance, sale or estate purposes. People need one for insurance coverage, a division of property, a donation or a sale.

Signs you need it

  • You inherited jewelry, art or antiques and do not know their value
  • Your insurer asks for a written appraisal to cover a specific item
  • You are dividing property in a divorce or an estate
  • You plan to donate an item and need documentation
  • You want to sell something unusual and need a starting point
  • You have equipment or tools of a business that need a formal value

What the pro does

  • Discuss the purpose of the appraisal, since the type of value depends on the purpose
  • Inspect the item, measure it and photograph it
  • Research the item's history, maker, condition and similar sales
  • Write a report with a description, photographs and the reasoning for the value opinion
  • Sign the report and state the date and purpose
  • Explain the report and how long it remains useful

What changes the price

Every job is different, so we do not publish prices. These are the things that move the quote up or down.

  • The type and number of items
  • The purpose, such as insurance, sale, donation or estate
  • Whether the item needs special testing
  • Whether the appraiser must travel to you
  • The depth of the report required
  • Whether a rush is needed
  • Whether an expert in a narrow field is required

What a written quote should spell out

  • The purpose and type of value in the report
  • Number of items covered
  • What the report will contain, including photos
  • Whether the fee is not based on the value found
  • Delivery time and format

Questions to ask before you hire

  • What is your specialty, and do you appraise this type of item?
  • What credentials or professional memberships do you hold?
  • What type of value will you give, and why for my purpose?
  • Does your fee depend on the value you find?
  • Do you also buy items, and do you disclose that conflict?
  • Will the report meet my insurer's or the receiving organization's needs?
  • How long will the report remain current?

Red flags

  • An appraiser whose fee depends on the value they find
  • An appraiser who offers to buy the item at the same time without disclosing the conflict
  • A report that is only a number with no description or reasoning
  • An appraiser who claims expertise outside their field
  • Refusing to put the purpose in writing

What you can do yourself

You can photograph the item from every side, find marks or signatures, gather papers such as receipts and family history, and note any damage. Online searches can give a rough idea but do not replace a written appraisal for insurance or estate use. Ask your insurer or the receiving organization what they require.

Licenses and permits

Appraisal of personal property is generally not licensed by the state, though real estate appraisal is. Ask about credentials from professional appraisal organizations and experience in the item category, and check any membership with the organization.

Appraisal questions

Is an appraisal the same as what I can sell it for?

Not always. Values depend on the purpose. Ask the appraiser to explain.

Can a seller or dealer provide my appraisal?

They may have a conflict if they want to buy the item. Ask for disclosure.

Do appraisals expire?

Many insurers want updates after some time. Ask your insurer.

Pro reviewers

Pros who offer appraisal remotely can improve this guide, like Wikipedia. We check every edit before it goes live. Every approved edit is credited in the edit history and on the pro's profile.

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