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With the arrival of colder temps and shorter days, we can't help but realize that the year will soon be drawing to a close. Officially, a written appraisal is not required for items valued at below $5,000 and are required for items valued at above $20,000. Between these two amounts, appraisals are "recommended."
In gathering information to write this post, I was shocked to discover that anyone can legally present themselves as a personal property appraiser. There is no governmental license, proof of knowledge, or certification required to appraise personal property.
There are many reasons you might need an appraisal of personal property. Your insurance agent has suggested that you need your art or jewelry appraised in order to put them under rider coverage. Your client with the large estate has just died and her personal property must be appraised. But where to begin? What’s USPAP?
With the dawn of the Internet Age it has become much easier for those of us who are not particularly experienced in the identification of rare or valuable books to make semi-educated guesses on what we have and what their value may be. Butler’s Fledgling for which she had paid $5.99, only to find that it had been signed by the author!
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