Appraisal FAQ

Appraisal Category Exclusions

While Look Appraisal specializes in a wide range of personal property, some items fall outside our expertise. This includes autographed sports memorabilia, sports and game trading cards, fine jewelry, precious metals, currency, coins and stamps, livestock, built-in home fixtures, firearms, weaponry, vehicles, and aircraft. However, we understand the importance of getting these types of items valued. If you have one item or a collection of these types of items, we may be able to provide you with a referral to a qualified appraiser specialist.

To ensure our dedicated attention, all of our consultations, valuations, opinions, and appraisals require an appointment. Click here to schedule now.

The Importance of a Qualified Appraisal 

Having a current, qualified appraisal is key to delivering the appropriate valuation, along with the following standards:

• Accurate Value: A qualified appraisal establishes the correct value, critical in some instances like insurance coverage. With proper documentation, you can ensure you're covered in case of damage, theft, or loss.
• Court-Admissible: Complies with USPAP (Uniform Standards of Professional Appraisal Practice) for use in legal proceedings; meeting federal requirements
• Tax Compliance: If you donate to a qualified charitable organization, a qualified appraisal allows for the claim of a tax deduction under certain regulations. Without a proper report, the IRS may limit or reject your deduction.
• Informed Decisions: Understanding the value of your personal property, collection, or valuable empowers you to make informed decisions about selling, gifting, or retaining an item as part of your collection.
• Transparent Documentation: Includes an easy to understand cover document outlining the appraisal's purpose and value sought.
• Vivid Descriptions: Details property with such precision that a clear picture forms in your mind.
• Current Credentials: A report backed by a current USPAP certification statement for the appraiser's expertise

The Importance of a Qualified Appraiser

Having a qualified appraiser ensures a fair and professional valuation for your valuables. Here's what sets us apart:

• Unbiased Expertise: Fees independent of the appraised value, eliminating any conflict of interest.
• IRS Compliance: Does your appraiser meet the qualifications set by the IRS for valuing donated property above certain thresholds? Is a financial representative really the best party to determine valuations?
• Ethical Conduct: An appraiser who is a current member and in good standing with one of the three major appraisal member orgs - adhering to a strict code of ethics established by their professional organization.
• National Standards: A qualified appraiser's work adheres to the Uniform Standards of Professional Appraisal Practice (USPAP) for consistent, reliable valuations. Is your appraiser compliant with the current version of USPAP?

Considering a Verbal Appraisal?

Need a quick sense of your item's worth? A verbal appraisal might be a good first step. Think of it as an "Antiques Roadshow" style experience – we'll use similar research methods to provide a current estimate of replacement value or auction price estimate.

Getting a Verbal Appraisal - Key Points:

• Ideal for: When you simply want a ballpark idea of your item's value (e.g., "What's it worth?" or "What do I have?").
• Not a Substitute for: Insurance, estate appraisals, or qualified charitable donations at or in excess of $5,000. This option lacks the detail and documentation required for legal and financial purposes.
• Helpful for:
  • Decision-Making: A verbal appraisal may be a starting point to decide if you need a formal written report before selling, downsizing, or working with a Senior Move Manager or other third party.
  • Estate Planning: Understanding your belongings' value can help you plan for future sales or inheritances.
  • Estate/Garage/Yard Sales: Avoid underselling valuable items – a quick verbal valuation or our walk-through service may prevent you from becoming "that person" in the news who practically gave away a rare gem at their yard sale. Estate sale companies may lack the experience and training to recognize items of greater value.
  • Auction Insight: Before an auction, a verbal appraisal can ensure valuable items aren't overlooked (auctioneers tend to prioritize quantity, not always individual value). The wrong auction venue can result in quite the deal for the buyer with a trained eye. We have have years of experience in this sector to help safeguard your best interests.

Food for Thought