Valuations must have a purpose. That purpose dictates the documentation needed to redact the appraisal, or substantiate a verbal opinion. An appraiser’s opinion is considered an appraisal, verbal, written or by reference.
Appraisers work through REDACTION; Redaction is a form of editing in which multiple sources of texts are combined (redacted) and altered slightly to make a single document. Often this is a method of collecting a series of writings on similar theme and creating a definitive and coherent work.
Fiduciary Duty: Every professional appraiser has a duty of preserving unbroken trust. The integrity and veracity of the valuation given is most important, above client’s wishes.
All Appraisals carry a Redaction Fee, Inspection Fee and Research Fee.
Scope of Work Categories:
Preliminary Evaluation: Consultation to ascertain if a specimen is worth further appraisal procedural methods and fees. NO VALUE given.
Inspection: Is a detail documentation of size, materials and the structural state of a specimen. NO VALUE given.
State of Instrument Report: Is a written document explaining the findings of an inspection. NO VALUE given.
Retail Estimate Valuation: This is an informal valuation after a “What the eye can see” inspection concluding with an estimate of comparable specimens in the appropriate retail regional market.
Appraisal for Income Tax Purposes:
(USPAP Compliant) DONATION
The IRS through the Appraisers Foundation under the sanction of US Congress dictates to appraisers how this document should be constructed. This documents requires the appraisal to certify their conclusions under penalty of the applicable law. This kind of appraisal is performed under strict confidence and only directed to the individual or institution for which the appraisal is intended to represent for USA Internal Revenue Procedures related to Income Tax Fillings.
Appraisal for Insurance Replacement Scheduling: After an inspection of a single specimen (instrument or bow) Each specimen is assign a Retail replacement value by the appraiser. Supported by comparable sales in an appropriate market directly related to the specimen, this document provides a baseline for Insurance Underwriting for each particular specimen. Scheduling is the process of listing each asset appraised. Each item is appraised separately and therefore carries a separate fee for each.
Our initial consultation/inspection is $ 45 per specimen (bow, or instrument separately) for Preliminary Evaluations. This consultations provides you guidance as to what kind of appraisal is appropriate, or if any kind of appraisal has merits due to your instrument's condition.