Online appraisal/valuation differs from traditional appraisals because of geographical distance and lack of direct physical inspection of the subject property. The inability to inspect creates assignment conditions that are restrictive. These restrictive conditions do not prevent doing a credible appraisal.
The appraiser must rely on the photographs and information provided by the client. The key to a successful online appraisal is the ability to dialogue with the client to identify the valuation problem and get pertinent data regarding the subject property. The quality of the photographs and the information provided to the appraiser is the basis for property identification and valuation.
The appraiser must determine whether the needs of clients and intended users, intended use, and the subject property are suitable for an online appraisal. Some high value properties with quality characteristics that do not reveal well on a photograph, and that require the touch and feel of the appraiser, may require appraisal by a local competent expert.
Some assignment results, such as those communicated verbally, are restricted to use by the client only. If the purpose of the appraisal is a sales advisory, and the appraiser’s opinion is communicated during a telephone consultation, then only the client may rely on the appraiser’s opinions and conclusions. verbal reports require payment for the consultation in advance.
Other assignments may have other intended users and an intended use that requires careful communication, usually in a written report. Appraisals for IRS tax purposes, insurance and dissolution of marriage etc. are examples.Â There are USPAP (Uniform Standards of Professional Appraisal Practice) standards that apply to written reports. Such reports increase the cost to the client. Written report requires payment prior to the release of the report.
Online appraisals/valuations need digital photographs. The first photograph should show the whole object. Sometimes there are different views that can be important. Sometimes there are details such as makerâ€™s marks, logos, details of construction and quality characteristics that are important. In some assignments the property was stolen or destroyed and no photographs exist. The description of the client is the only information that the appraiser may have to rely on.
It is frequently necessary to know the dimensions and quantities of a property.Â It may be important to know how and where the property was acquired, the history and past documentation of the property and the cost of acquisition.
Here are some examples of things we may need to know:
Each different type of item has specific characteristics that can be vital.
- Furniture: (how old, handmade, custom, maker, type of finish, arrangement, quality characteristics, set?)
- Books: (title, author, publisher, illustrator, editor, date, type of cover or bindings, condition etc.)
- Collectibles: (how many, what type, what made of, made by whom, size, condition),
- Fine art: (what medium, subject, style, image size, signature, provenance, framing, attribution, etc.)
- Prints (artist, date, edition size and number, image size, type of print, framing)
- Glass: (blown, molded, crystal, color, size, signature, maker, period or style etc.)
- Ceramic: (porcelain, semi porcelain, earthenware, red ware stoneware etc. age, country, how it is decorated, glaze, etc).
If you want to get a written appraisal/valuation done by our USPAP(Uniform Standards of Professional Appraisal Practice) certified GPPA (Graduated Personal Property Appraser) for your personal Items then visit the Online Antique & Collectible Appraisal page.