FAQ - What is an appraisal?
By: Dan Power
An appraiser is a professional who can evaluate what a collectible or an entire collection is worth. The appraiser will describe and analyze the condition of the collectible(s). The appraiser will compare your items to other similar items that have sold recently with similar characteristics. The appraiser then estimates that your collectible might sell for approximately the same amount. This estimate is called an "appraisal."
An appraisal is an estimate of the amount of money your item(s) would sell for in the market place. An appraiser will often provide a range of prices or a retail and a buy price at wholesale or at auction. An appraisal can be used for insurance purposes and as input for accepting an offer to "buy" the item or collection. Estates of collectors can often benefit from an appraisal.
The cost of an appraisal depends upon what is being appraised. Some items can be appraised from photos and descriptions in which case the cost for appraising a single item might be as low as USD $20. At some charity fundraisers one may be able to make a contribution of USD$10-$20 and receive an informal appraisal. In general, an appraisal should be priced based upon the estimated number of hours required to do the appraisal. Some dealers who appraise a collection will waive the fee if their 'buy" offer is accepted otherwise the owner pays the appraisal charge. Preparing an authoritative appraisal requires time and expertise. Extensive research may be required. Owners requesting an appraisal should ask for an estimate of the cost of the appraisal.
If your collection should be appraised for insurance or estate purposes, we welcome the opportunity to be of service. We can quote a retail value, or a wholesale value at which dealers might buy, or both! We provide cost estimates prior to an appraisal.
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