What is the difference between an appraiser and an auctioneer?

An appraiser's main job is to give an opinion of value for a specific purpose, such as insurance, estate settlement, division of property, or a charitable donation. A professional appraiser typically writes a formal report and, ideally, has no financial interest in the item's sale. Appraisers often charge by the hour or by the project.

An auctioneer's job is to sell property. Auctioneers often have a strong sense of current market value because they see what buyers actually pay, and many will give sellers an estimate of what items might bring at auction. That estimate is not the same as a formal appraisal.

Some people are both, and many auction companies offer appraisal services. If you need a written appraisal for legal, insurance or tax purposes, ask whether the person has appraisal training and credentials and whether they will be bidding on or selling the item.