An Appraiser is a trained and tested expert on the type of personal property that you have a need to know the value of. The US Congress requires that appraisals be written by Accredited or Candidate appraisers that have been trained and tested. No other organization or entity in the US is approved by the US Congress to appraise personal property and specifically classic and collector cars. The IRS also requires an appraiser to take and pass a 15 hour test and then a 7 hour refresh every two years to be compliant.
An Appraisal is a detailed comprehensive report supported by data that identifies and places a dollar value on your personal property. This report can used in estate planning, litigation, donations, or private sales. Confidentiality – It is unethical for an Appraiser to disclose in any way that they have a) been engaged to appraise property or b) disclose the value conclusion of a property unless the customer allows this in writing. If an Appraiser has a personal ownership interest in your property they need to immediately state that to the customer.