An appraisal is an unbiased opinion of value formed by identifying the object and researching and analyzing the appropriate market. The value conclusion is substantiated by current market comparables.  An appraisal document is created from significant research and analysis.

There is no state or federal licensing for personal property appraisers.  Appraisers therefore distinguish themselves through professional appraisal organizations, such as the American Society of Appraisers (ASA).  To become an accredited member with ASA an appraiser has to: have a 4 year college degree, complete all of the Principle of Valuation courses given by ASA, complete a 15 hour training course on the Uniform Standards of Professional Appraisal Practice (USPAP) and pass exam, pass ASA's ethics exam and submit appraisal documents for peer review, in addition to working full time in the appraisal field for a minimum of two years.  Even after accreditation with ASA appraisers must be reaccredited every 5 years through continued education and participation in professional activities or by taking the accreditation exam. All qualified appraisers must adhere to the Uniform Standards of Professional Appraisal Practice (USPAP).

USPAP is the Uniform Standards of Profession Appraisal Practice created by The Appraisal Foundation in 1987.  As stated by the Appraisal Foundation, "USPAP are the generally accepted standards for professional appraisal practice in North America. USPAP contains standards for all types of appraisal services..."  USPAP was created to serve as a guideline for appraisers to maintain and practice the highest level of valuation consulting services and to provide the public with the means to measure competence and compliance with professional standards. All appraisal reports must include a signed and dated certification that these USPAP requirements have been fulfilled.  Appraisers are required to take the 15 hour USPAP course and be re-examined every 5 years.

An appraiser from Soltesz Fine Art Consulting will start the process by gauging the purpose for which the appraisal is required, insurance coverage, sale of the art etc...  The appraiser will then do a complete examination of each work to be appraised.  At this point any information you have regarding your art, such as invoices, past appraisals or any other pertinent information regarding the work should be made available to the appraiser. This is followed by extensive research and market analysis to ultimately establish an opinion of value.  All of this information will be recorded in an appraisal document which will be given to the client upon the completion of the assignment.

An appraisal report is a multi page document.  At minimum, a report should contain the following: effective date of appraisal, client and appraiser name, intended use and users, type of value, scope of work, property identification, photographs, value conclusion, privacy statement, USPAP certification and appraiser's signature.

It is recommended to have your artwork appraised every 5 years to make sure the market data is current.

Appraisers are valuers not authenticators.  The artist that created the work is the only true authenticator; if they are no longer living then one must depend on known and respected experts for the particular artist.