Written Appraisals:
Insurance. If an item is to be protected under an insurance policy, then the written appraisal gives the replacement value.
Estates and Gifts. A fair market value appraisal may be needed for estate planning or for estate valuation. A charitable gift to a qualifying institution needs to be documented with a fair market value appraisal, if the donor wishes to take a tax deduction. In the case of large charitable gifts, the deduction may be taken over a number of years.
Information. The value of a piece may help determine whether it should be insured; or given away, sold, willed or otherwise disposed of.
Fair Distribution. A donor may wish to divide a collection or the contents of a house equally by fair market value between or among parties.
NB: A written appraisal gives a reasonably detailed description of each object or group of objects, including materials, construction, decoration, country of origin, date, measurements and condition. The items appraised will also be photographed.
Verbal Appraisals and Consulting:
Verbal Appraisals. A verbal appraisal may be appropriate when an owner wants to know if there is anything of significant monetary value in a collection or the contents of a house. If the appraisers identify such an object, they will give an estimate of value based on their experience, without study of comparables and written documentation. In some cases a written appraisal may be recommended.
Advice in Selling. This may include representing the seller.
Advice in Purchasing. This may include representing the purchaser.
Advice in Family Divisions.
Inventories. An inventory may be a simple listing without values or detailed descriptions.
Research—Provenance. A client may request scholarly research of an object or group of objects. One area that is particularly important in documenting an antique is provenance. History of ownership will be duly noted in a written appraisal, but sometimes further research is called for.
References on Request.
William IV Table
Pompey's Pillar, Alexandria, Egypt, albumen photo
Rooster Claret Jug