Whether you are estate planning or determining an appropriate replacement cost for your favorite collection items, it is important to understand the accurate value of your collection. Hiring a reputable appraiser is the next step in that process.
1. Contact a trusted insurance advisor who specializes in premier insurance.
Sterling Coverage partners with carriers that know how to take care of the collections that you are passionate about. Many of our premier insurers provide worldwide protection for scheduled collections coverage and some provide coverage for items in transit or on loan for exhibit. They also have direct relationships with vendors across the country that can appraise your items at an accurate value.
2. Ask for a referral from one of the three professional appraisal organizations:
- American Society of Appraisers (ASA)
- Appraisers Association of America (AAA)
- International Society of Appraisers (ISA)
3. If you have multiple collections that vary significantly, you may need to consider selecting multiple appraisers with different skills & expertise.
4. Ask for a sample appraisal and request that the appraiser explain the fee structure.
Appraisal fees should be based on commission or tied to the value of the appraised item. Appraisals should also be compliant with the Uniform Standards of Professional Appraisal Practice (USPAP).
If you are interested in hiring an appraiser, reach out to a trusted advisor at Sterling Coverage. We can connect you with a reputable appraiser in your area, while also ensuring that your collection is adequately protected.