How to Get an Antique Appraised

An appraisal gives you a documented opinion of what an item is worth for a specific purpose. This guide is for heirs settling an estate, owners insuring a collection, and anyone thinking about selling. You will learn which kind of appraisal you need, how to find a qualified appraiser, and how to prepare so you get a useful result.

Know why you need it

The purpose of the appraisal changes the type of value an appraiser reports, and the numbers can differ a lot for the same item.

• Insurance: usually uses replacement value, what it would cost to replace the item with a similar one, often at retail.
• Estate settlement, division among heirs and charitable donations: usually use fair market value, the price a willing buyer and willing seller would agree on.
• Selling: you may just need an idea of likely sale prices, which an auction house or dealer can often estimate.

Tell the appraiser the purpose up front. If the appraisal is for a tax filing, an estate or a legal matter, ask your attorney, executor or tax professional what kind of appraisal and qualifications are required.

Verbal estimate or written appraisal?

A verbal estimate or auction estimate is an informal opinion, often free or low-cost, given by an auction house or dealer, usually when they hope to sell the item for you. It is useful for deciding what to do next.

A written appraisal is a formal report describing the item, its condition, the method used and the value conclusion. It is what insurers, courts and tax authorities typically expect. Formal appraisals cost money and take time.

Find a qualified appraiser

• Look for an appraiser with experience in your specific type of item. Someone expert in furniture may not be the right person for jewelry, coins or fine art.
• Many appraisers belong to professional associations, such as the American Society of Appraisers, the Appraisers Association of America or the International Society of Appraisers. These groups have education requirements and ethics codes.
• Ask whether they follow USPAP, the Uniform Standards of Professional Appraisal Practice, which is widely used in the United States.
• Ask for references and a sample report.

You can also find auction, estate sale and antique businesses in your area, many of which offer appraisals or can refer you to an appraiser.

Understand fees and conflicts

Appraisers commonly charge by the hour, by the item or a flat fee for a project. Fees vary by region and specialty, so ask for an estimate in writing.

• Be cautious of any appraiser who charges a percentage of the appraised value. Professional ethics codes generally discourage this, because it rewards a higher number.
• Be cautious if an appraiser offers to buy the item they just appraised. A buyer has an interest in a lower value. Many professionals will not appraise and buy the same item for this reason.

Prepare before the appointment

1. Gather any history you have: where and when it was bought, family stories, receipts, letters and earlier appraisals.
2. Note any marks, signatures, labels or stamps, and photograph them.
3. Take clear photos from all sides, including the bottom and back.
4. Measure the item.
5. Write down known repairs or restorations.
6. Don't clean, polish or repair the item first. You could reduce its value or remove evidence the appraiser needs.

In-person, photo and online appraisals

Large collections, furniture and high-value items are best seen in person. Some appraisers accept photos for initial opinions, which can save time and money for lower-value items. A photo-based opinion is limited, since the appraiser cannot check condition, weight or materials directly, so treat it as preliminary.

Review the report

A good written appraisal clearly states the purpose, the type of value, the effective date, a detailed description of each item, its condition and how the value was reached. Read it carefully, ask questions about anything unclear, and keep it with your important papers. Values change over time, so insurance appraisals in particular should be updated periodically.

Quick checklist

• Decide the purpose: insurance, estate, donation or sale.
• Choose an appraiser experienced with your type of item.
• Ask about credentials, USPAP and fees in writing.
• Avoid percentage fees and appraiser-buyer conflicts.
• Bring photos, history and measurements.
• Don't clean or repair items beforehand.