07/13/07

Quilt Appraisal

Frequently Asked Questions

There are always many inquiries and questions regarding quilt appraisal. In order to simplify things for the reader, and helpfully answer your questions without delay, I have attempted to answer some of the more common questions I have received on this page. If after reading the FAQ's and answers here, you still have questions, or need help in locating an appraiser near you, please email Deborah Roberts.

THANK YOU FOR YOUR INTEREST!

Deborah Roberts

Q: What is my quilt worth?

A: It is impossible to determine a quilt's value without examining the quilt first hand. A description or a photograph do not give the appraiser sufficient knowledge about that quilt, and any attempt to determine value in this way cannot be justified.

It is also important that the appraiser know the purpose of the appraisal. Is it for insurance purposes (for coverage or for a claim), sale or resale, equitable division of property, IRS obligation (probate, estate, gift tax, or charitable contribution)? The value of your quilt may differ depending upon the reason for the appraisal.

Q: What does the appraisal consist of?

A: One should receive a formally written report of the value of their property. At the very least, it should include a complete and accurate description of the quilt, a defined value, with the methodology used in selecting the value; the purpose of the appraisal, and the signature of the appraiser.

DO NOT ACCEPT the appraisal if it is unsigned, does not include a description of the property, or the fee is based on contingency (percent of value), or the appraiser attempts to appraise your quilt from a photograph.

Q: Is is okay to let my quilt dealer appraise my quilt?

The answer to this question depends upon the dealer. A reputable appraiser will not appraise a quilt that they are interested in purchasing, or have any vested interest in. This would be a conflict of interest. If a situation occurs where the appraiser or dealer is interested in purchasing your quilt, an ethical appraiser will refer you to a colleague for the appraisal.

Q: How do I find a knowledgable and qualified appraiser?

A: Anyone can appraise. There is no licensing or certification required of appraisers at this time, and until there is legislation passed to protect the public from unqualified appraisers, it is up to you the consumer to decide whether the appraiser you choose is qualified. When attempting to select an appraiser, here are some questions you should ask: 

1. What qualifies you to appraise quilts?

Education covering appraisal standards, principles, procedures and ethics are of utmost importance. An appraiser who has undergone comprehensive testing by a nationally recognized appraisal organization is a way to insure competence.

Especially when dealing within a specific area, such as quilts, one would want to ascertain if the appraiser has quilts as an area of expertise. Someone may have been certified by a national organization, and be able to identify each detail of your quilt, but may not know how to evaluate it for its worth ~ it should be clear to you that the appraiser understands the quilt marketplace and knows of the various marketplace terms used to establish appropriate value.

One would also want to ascertain if the appraiser is knowledgable about antique, contemporary, as well as art quilt values, as well as what their qualifications are.

2. How many years have you been appraising quilts?

Simply because one has been appraising quilts for a long period of time does not mean that they are doing it right. A quilt appraiser needs to have both experience and expertise. This question is only valid, when taken into proper perspective.

3. Do you belong to an appraisal organization?

Membership in an appraisal organization shows that the appraiser is active in their profession, has access to current information, and most importantly, has subscribed to a code of ethics.

There are 4 nationally recognized appraisal organizations. They are:

THE AAA - Appraisers Association of America - This is the oldest appraisal organization, comprised of personal property appraisers, many of which have quilt related expertise.

The ISA - The International Society of Appraisers - There are 3 types of membership in the ISA.

**Associate - has joined the organization, but not completed the courses necessary for full member status.

**Member - someone who has taken and completed the core courses offered by ISA. After completion of the courses, the appraiser may use ISA initials after their name.

**Certified Member - someone who has earned the "Certified Appraiser of Personal Property" (CAPP) which would include the specific areas of an appraisal specialty. 

The ASA - American Society of Appraisers -This organization includes both real estate and personal property appraisers. There are several members of this organization that have expertise in the field of quilt appraisal. 

PAAQT - Professional Association of Appraisers: Quilted Textiles. Although a separate entity from the American Quilters Society, PAAQT is a non-profit organization whose membership is comprised only of appraisers that have been comprehensively tested and certified by AQS, and have proven expertise in the area of quilts and related textiles.

AQS APPRAISER CODE OF ETHICS

 4. Will you supply references?

An ethical appraiser has an obligation of confidentiality to all clients. However, after obtaining permission, the appraiser may supply you with the names of clients for you to contact.

5. Will you consult with other appraisers if my quilt is outside your area of expertise?

With few exceptions, most general personal property appraisers do not know the value of everything without research and/or consulation. A competent appraiser will not hesitate to contact other sources when necessary. Again, the question of related expertise will help you determine competence. 

6. Are you willing to defend your appraisals in a court of law?

ANY competent appraiser will be willing to support and substantiate a given value in a court of law.

7. What do you charge for an appraisal?

It is unethical for an appraiser to charge a fee based on a percentage of value, nor will the IRS accept such an appraisal. The fee charged by a reputable appraiser should be based upon a standard per/appraisal fee, pre-specified contract price, or an hourly fee, plus expenses if appropriate.

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Hopefully this has helped answer some questions you may have regarding quilt appraisal.

Deborah Roberts has been certified by the American Quilter's Society, and has been appraising quilts for over 5 years. She is a member of PAAQT and has appraised quilts for corporations, museums, and private collectors.  For more information on quilt appraisal and why you should have your quilt appraised, please go to "THE QUILT APPRAISAL PAGE".

If you would like Deborah to appraise your quilt or quilt collection, or would like the recommendation of a qualified quilt appraiser near you, please contact her by email at quiltevals@aol.com.