Three Major Appraisal Organizations Unite to Alert the Public to Risks Associated with Engaging Uncredentialed Personal Property Appraisals

Circle of Trust

A Circle of Trust has been established by the three major professional societies for personal property appraisers to jointly promote education to the public regarding the importance of using credentialed appraisers.  They include the International Society of Appraisers, American Society of Appraisers and the Appraisers Association of American.  The joint announcement states:

Members of these associations earn their credentials through a stringent admissions, training and testing process, are required to comply with IRS and AQB guidelines, adhere to a code of ethics, and to complete continuing education requirements. These qualifications provide a level of professionalism that is unmatched, and ensure the public that appraisals performed by an accredited appraiser are among the most reliable appraisals available.

All three organizations strongly urge the public to verify the educational and experiential background of an appraiser prior to retaining their services, and to be wary of red flags that indicate an appraiser may not be objective in conducting appraisals. These include charging for appraisals based on the appraised value of an item, or offering to purchase an item the appraiser has appraised. Professional, competent appraisers always conduct appraisals at “arm’s length,” without self-interest.

The full news release and contact information for the three societies can be found at PRSYNC.

 

  

50th Anniversary of American Studio Glass

2012 marks the 50th anniversary of the American studio glass movement.  To celebrate this occasion, over 165 museums, universities and arts organizations throughout the U.S. are presenting exhibitions or programs relating to contemporary glass.  The movement began at the  Toledo Museum of Art:

In 1962, the Studio Glass Movement was born in a garage on the Museum grounds. Harvey Littleton, a pottery instructor, received the support of then-director Otto Wittmann to conduct a workshop to explore ways artists might create works from molten glass in their own studios, rather than in factories. A prototype “studio” furnace was built in the TMA garage, but for the first three days of the workshop all attempts to fuse molten glass failed. Finally, Dominick Labino, then vice president and director of research at Johns Manville Fiber Glass, showed up with advice on furnace construction, and with glass marbles that melted. Harvey Leafgreen, a retired glassblower from Libbey Glass, was then able to demonstrate his craft. Later that summer, many participants returned for a second workshop.

As an appraiser specializing in art glass, I am always looking for opportunities to view art glass and gain education.  Last Fall I attended the Sculpture Objects and Functional Art (SOFA) Show in Chicago.  I enjoyed the opportunity to view contemporary art glass and meet many artists, including Lino Tagliapietra.

The Art Alliance for Contemporary Glass (of which I am a member)  has a calendar of events and celebrations for 2012 at http://contempglass.org/2012-celebration/events.    While you’re at the website, check out “A Visual History of Glass” and “Featured Glass Art Videos”.

Pile Up by Harvey Littleton
Pile Up Harvey K. Littleton (American, b. 1922) United States, Spruce Pine, North Carolina, 1979 Kiln-formed glass, cut glass base

The Glass Art Society is having their annual conference from June 13-16, 2012 in Toledo, Ohio, the birthplace of studio glass.

The Corning Museum of Glass is having their annual seminar on glass October 18-20 titled “Celebrating 50 Years of American Studio Glass” in conjunction with exhibits featuring Harvey Littleton and Dominick Labino, founders of the studio glass movement.

If you have a chance, I encourage you to attend some of the programs and special exhibits celebrating the studio glass movement this year.  It is a rare opportunity to view such a large amount and wide variety of contemporary art glass.

Gold and Green Implied Movement by Harvey Littleton
Gold and Green Implied Movement Harvey K. Littleton (American, b. 1922) United States, Spruce Pine, North Carolina, 1987 Hot-worked barium/potassium glass with multiple cased overlays of colorless and Kugler colors, cut Assembled (six elements)

 

Images used with permission, courtesy of the Art Alliance for Contemporary Glass.

 

 

Appraisers and Licensing

You might be surprised to hear that there are no Federal or state licenses for personal property appraisers in the United States.   When it comes to placing a value on your antiques, art and household contents, anybody can say they are a appraiser.   If a personal property appraiser claims to be licensed, it is for some other aspect of their business, e.g. auctioneering, real property appraising, private investigation or even a city business license.

How are personal property appraisers credentialed and what standards do they follow?

Appraisers are credentialed by their professional appraisal associations.  The three largest associations with personal property appraisers are the International Society of Appraisers (ISA), the American Society of Appraisers (ASA) and the Appraisers Association of America (AAA).  In addition to testing, education and demonstration of appraisal experience, designated members must requalify every 5 years.  All members are bound by a Code of Ethics.

The Uniform Standards of Professional Appraisal Practice (USPAP) is a set of guidelines published by The Appraisal Standards Board at The Appraisal Foundation.  It is the source of generally accepted standards and ethics for appraisers in the United States.  Appraisers must  take USPAP courses and keep current with the updates every 2 years.  In addition, the Appraisers Qualifications Board has developed voluntary minimum qualifications for personal property appraisers.

The IRS has established the following requirements:

  • A Qualified Appraiser has earned a professional designation from a recognized professional  appraiser organization for demonstrated competency in valuing the type of property being appraised, or has met certain minimum education and experience requirements.
  • The individual regularly prepares appraisals for which he or she is paid.
  • The individual demonstrates verifiable education and experience in valuing the type of property being appraised.
  • The individual has not been prohibited from practicing before the IRS under section 330(c) of title 31 of the United States Code at any time during the 3-year period ending on the date of the appraisal.
  • The individual is not an excluded individual.
What should you do to make sure you are getting a qualified and ethical appraiser?
  • Choose an appraiser from a major appraisal society and check to see if they are current.  Certified and Accredited are the highest levels of designation.
  • Ask them about their experience, areas of designation and expertise.
  • The appraiser should provide a 3rd-party independent opinion of value, and not have a potential conflict of interest.
  • Choose an appraiser who is USPAP compliant and IRS qualified.

Perhaps personal property appraisers will be regulated and licensed at some future date.  In the meantime, the user of appraisal services should carefully consider their selection.