How to Choose a Qualified Appraiser

Choosing a Qualified Appraiser:

When it comes to hiring a personal property appraiser, the stakes can be high. Whether you’re managing an estate, preparing for IRS reporting, or simply seeking to understand the value of a treasured item, hiring the right professional is essential. Unfortunately, the personal property appraisal industry remains largely unregulated, leaving the door open for unqualified individuals to pose as experts. The consequences of hiring the wrong appraiser can be severe, ranging from IRS challenges to significant financial losses. This guide provides actionable steps to help you choose a trustworthy and qualified appraiser.

1. Ensure the Appraiser is USPAP Compliant

The Uniform Standards of Professional Appraisal Practice (USPAP) are the recognized guidelines that define what constitutes a “qualified appraiser” and a “qualified appraisal report.” When vetting an appraiser, your first question should be: Are your appraisal reports USPAP compliant?

A confident “yes” to this question is a strong indicator of the appraiser’s commitment to ethics and industry standards. If the answer is unclear or hesitant, it’s best to look elsewhere.

2. Verify Accreditation

Choose an appraiser with accreditation or training from a respected organization, such as:

• International Society of Appraisers (ISA)

• Appraisers Association of America (AAA)

• American Society of Appraisers (ASA)

Accreditation ensures the appraiser has undergone formal education in appraisal methodology, ethical standards, and USPAP compliance. However, accreditation alone doesn’t guarantee expertise in your specific property type. To assess competence further, ask:

• Where did you train or apprentice?

• Have you appraised items similar to mine before?

• Can I view a sample report? 

3. Confirm Objectivity

Your appraiser should be entirely independent and free from conflicts of interest. Red flags include:

• The appraiser owns or works for a company that wishes to sell property to you, or purchase property from you.

• The appraiser’s compensation is contingent on the appraisal outcome (e.g., receiving a percentage of the appraised value).

• The appraiser agrees to appraise items at a pre-determined value.

An objective appraiser is focused solely on delivering an unbiased, accurate valuation—not on future transactions involving your property.

4. Evaluate Competence

A competent appraiser combines formal training with hands-on experience in your specific property type. This is especially critical for complex or high-value items. To evaluate competence, consider asking:

• How many years have you been appraising?

• Can you provide examples of similar appraisals you’ve completed?

• May I see your CV, references, or reviews?

Be cautious of individuals who claim expertise based solely on:

• General knowledge or passion for collectibles

• Retail sales experience

• Academic background in related fields without appraisal training

• Secondary market experience (e.g., selling on eBay or at auction)

5. Understand Fee Structures

Appraising is a complex and demanding profession, requiring:

• Expert-level understanding of the subject matter

• Knowledge of multiple market levels

• Mastery of appraisal theory and methodology

• Compliance with IRS and USPAP guidelines

• The ability to defend conclusions in legal or IRS contexts

These responsibilities come with costs that reflect the appraiser’s expertise and liability. Be wary of unusually low fees, as they may indicate a lack of qualifications. A professional appraiser should:

• Clearly outline their fee structure in a written contract

• Avoid charging contingent fees based on the appraisal’s outcome

Final Thoughts

Navigating the world of personal property appraisal can be daunting, especially in an industry that often lacks transparency. By following these guidelines, you can confidently select an appraiser who will provide reliable, ethical, and professional services.

For additional questions or to learn more about Artrium’s appraisal services, please don’t hesitate to contact us. Our mission is to bring clarity and professionalism to every appraisal project.