Antique items are always in demand. Antique items are supplied to consumers by the market which buys these goods in their restored and un-restored condition. The purpose for having antique goods appraised is so that the consumer and the supplier can have some common ground when it comes to selling these items. An appraisal can also give some key information regarding the manufacturer of certain items.
When an appraisal is documented it can be considered legitimate for describing property. There are strict guidelines that an appraisal should follow. These guidelines include the following:
A description of the property
The determined value of the antique
An analysis of the market place
Its adherence to ethical code
Report regarding the fee policy
An appraisal certificate.
When it comes to insuring valuable antiques, the appraised value is very important. It can help you recover an appropriate amount if your item is lost or stolen. Some people also use the appraised evaluation to obtain loans from financial institutions.
Having an item appraised may be a time consuming process, It may take a couple of weeks or up to a month. Most antiques are appraised based on the overall condition and uniqueness. After the appraisal is finished it is sent to the owner or the antique. A copy is usually kept by the appraiser for one year.
There are several factors that can have an impact on the value of an antique. These factors include the following :
Condition- The condition of the antique item is first and foremost while being judged by an appraiser. All other aspects are secondary.
Rarity – Next, the appraiser will try to determine how rare your antique is.
Regional difference – It is quite possible that an item may be more desirable in some regions than in others. The appraiser will take this into consideration also.
Here is a word of caution: It is not a good idea to trade with an appraiser, even if he makes a tempting offer. You should seek a reference from someone who deals with appraisers on a regular basis, such as an attorney or banking executive. There is also an appraisers society that you can consult with. Members of this organization have to pass a property evaluation exam on ethical standards. Once you have the references you need, you can decide which appraiser you want to use. Also, it may be a good idea to use more than one appraiser rather than just relying on one.