The Importance of Appraisal

Ann Carns discusses how "[w]hether an appraisal is done for tax purposes, for an insurance policy or to divide property in a divorce, the most important first step is finding someone who has broad, deep knowledge about the kind of pieces you collect."  There are three major reputable appraisal associations: the Appraisers Association of America, the American Society of Appraisers, and the International Society of Appraisers.  All of these groups require their members to keep up to date with appraisal practices, called the "Uniform Standards of Professional Appraisal Practice," and adhere to a code of ethics. 

See Ann Carns, "The Specialized Art of the Appraisal," The New York Times, Oct. 18, 2011.

Posted by William Alan Nelson II, Associate Editor, Wealth Strategies Journal