People who love antiques usually have a basic understanding on what it is they own and its approximate value. It’s not difficult to research their coveted antique pieces, to better understand its history and value. However, if you were planning on insuring your antiques or need to sell the object for their market value, it is next to impossible to accomplish on your own. This is where a qualified antique appraiser comes in. Antique appraisers provide antique collectors, auction houses and insurance companies the pertinent value information for personal, professional and legal purposes.

If you are in need of an appraiser, there are a few things you should consider before hiring the first guy out of the telephone book.

– First be clear about what you want from the appraisal. Appraisals should be customized to your needs.

– You should find an appropriate appraiser for the object you need appraising. For example, if you need an appraisal for an antique book collection, you wouldn’t want to hire a jewellery appraiser.

– Sources to find an appropriate appraiser:

1 – Check with insurance companies and agents in your area.

2 – Call an actual auction house. Some actually have their own experienced antique appraisers

3 – Call an actual auctioneer. These people know their business inside and out, including other reputable people in the business such as appraisers. Tip: Many auctioneers are trained, reputable appraisers.

Whatever your reason in needing an antique appraisal, there are different types of appraisals for each purpose. Whether you need an antique appraisal for insurance purposes, market value or tax/estate purposes, the appraisals will differ greatly.

Insurance appraisals

For insurance purposes, the appraiser is looking to find the highest replacement value of the object. To do this, the appraiser will find similar objects and the prices attached to them to find a fair evaluation on the value of your piece. The price will be dependent on the condition, desirability, its age and rarity. Once an appraiser has given you the value of the antique you requested, you receive a printed record of its value and how it was evaluated, and also receive pictures of the antique you had appraised. These documents should be kept in a safe place such as a safety deposit box or a safe in order to retain the records for any unforeseen accidents. Much like a will, the appraiser will also keep a copy for you just in case.

Market value appraisals

For market value prices, it is a bit different. Market value is the price of the object that the buyer and seller agree upon, not necessarily it’s actual value. The appraisal for this purpose is dependent on the condition of the antique, and the cost the seller originally purchased the item for. These values are never fixed, and bargaining is always a factor.

Estate/tax appraisals

If you need an appraisal of an estate for tax purposes, namely you inherit an antique; you will most likely need to get an appraisal for tax purposes. The IRS will commonly want appraisals done before the item actually changes hands. This type of appraisal is based on similarly priced items as well as common auction prices.

Lastly, Appraisers charge fees. It’s a service and you will have to pay for it. These fees differ in price depending on many variables. Always ask upfront what the appraiser’s fees are.

One last very important bit of advice, do not, under any circumstances sell an antique to your appraiser. This is an obvious conflict of interest, if they are a reputable appraiser, they will never even make an offer. If your appraiser does, get a new one.

Visit http://www.madisonsauction.com for collectible auctions, appraisals and liquidation and bankruptcy.

Visit http://www.madisonsauction.com for collectible auctions, appraisals and liquidation and bankruptcy.

Author Bio: Visit http://www.madisonsauction.com for collectible auctions, appraisals and liquidation and bankruptcy.

Category: Business
Keywords: appraisals,auction,bidding,auctions,antique