Our Code of Ethics

by Tony Duke on October 27, 2009

How do you find a reputable appraiser when you’re not an expert yourself?

DON’T PANIC!  You don’t need to be an expert in antiques and personal property, you need only know a few things about the process so you can ask the right questions.

Don’t even ask the cost until you’ve assured yourself that you are dealing with someone who is ethical.

1. Are your fees a flat-rate or are they based on the value of the items being appraised? Fees charged by an independent appraiser (one who has no financial interest in the value of your items) are assessed at a flat-rate either per hour or per item appraised.

If an appraiser’s  charges  are based on a percentage of the value of your items, RUN! If such an appraiser is also a dealer, he will lean towards under-valuing your items hoping to buy them. If the appraiser knows you’re not thinking of selling, he will lean towards over-valuing your items so he can charge you more.  In either scenario, there is a conflict of interest and you are paying for an invalid appraisal. In order to be conflict free your appraiser should quote for either a  ‘per item rate’ or an ‘hourly rate’.

2. Can you buy some of these items if I decide to sell them? Unless you hear, “no, No, NO!”, run run run!  An independent appraiser will not make an offer to purchase any item that they have appraised. Period. It might be convenient to be able to make an easy sale if you’re downsizing and want to turn your items into much-needed cash, but you’ll be getting an invalid appraisal, and a low price for your goods.  A caveat here: a number of appraisers also run antique shops, or will offer to help you sell your goods on a consignment basis. In this case, your appraiser is working on your side to get the best price possible.  Your appraiser can also advise you on other sale options.

3. Do you need to come and inspect the goods, or can I send you some photos? An appraiser needs to inspect your antiques and personal property. There are so many factors that go into making an accurate appraisal that a photo doesn’t cover. An appraiser might ask you to send preliminary photos in order to determine whether your item might require a more formal appraisal, but the goods must be physically inspected.

Once you’re assured that your appraiser is reputable, you can begin to talk price.