When You Know an Excellent Certified Appraisal is Important

Melanie SmithMelanie Smith, owner of the gallery, is a fully accredited professional personal property appraiser. She appraises original fine art and animation art since 1973, and is a member of the esteemed International Society of Appraisers (ISA).

The ISA is the largest of the professional personal property appraisal associations representing the most highly trained and rigorously tested independent appraisers in the United States and Canada.

All appraisal reports are written in accordance with the Uniform Standard of Professional Appraisal Practice (USPAP) and by the guidelines of the ISA.

Q: When do you need an appraisal?
A: The most common needs for appraisals are for the purposes of Insurance, Estate valuations, Charitable Donations, Claims services, and Divorce & Equitable Distribution among others.

Q: When do I need an appraisal for Insurance?
A: Everyone needs household insurance for day-to-day protection. Unless your valuables are specifically listed and their values validated by means of a professional appraisal prior to the loss, they will be subject to payment at pre-established category limits which are likely less than the actual value of your art. Having your fine art and animation art appraised protects your investment.

Q: What regulations effect Estate valuations?
A: Tax regulations require that upon death, property in the estate be inventoried and appraised to establish a basis for determining estate taxes. Often this appraisal is useful when estates are divided equally among heirs. These type of appraisals meet strict regulation criteria.

Q: Why would I need an appraisal to make a Charitable donation?
The IRS requires that a donor obtain a qualified outside appraisal for a donation worth more than $500. Changing laws and strict IRS procedures make it essential that donors utilize a qualified appraiser who is knowledgeable about the intricacies of federal-related appraisals.

Q: What is a 'Claims services'?
A: This is involves problem insurance casualty, and moving damage claim assignments for fine art. An objective, qualified appraisal is most useful in such cases.

Q: How does an appraisal apply to Divorce & Equitable distribution?
A: An objective appraiser's services are necessary in assigning values when the courts are involved in dividing marital property equally, or when making a monetary award to a disadvantaged party in the distribution. All appraisals are detailed in a written report documenting the value of the property. Fees are never based on the value of the property; this eliminates incentive to inflate the value of appraisal property and meets the strict ethical requirement of the professional membership of ISA.

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