The Personal Property Appraisers Post

Your Appraisal Credentials are Worthless...

2010-09-18T13:27:00.004-04:00

Yea, it’s me, Brian Kathenes. Who else did you expect with a headline line that?

I really do believe that your appraisal credentials are worthless, UNLESS you know how to sell your appraisal services & yourself.

That’s why Leon and I are hosting a free tele-seminar called: Selling Your Professional Services. It is absolutely free -- and it's for you, our fellow appraisers.

Your ability to sell your appraisal services far outweighs your credentials. Want proof?

Take a look at all the Bozos who are getting appraisal jobs in your town without any of the credentials that you hold.

It is frustrating. It's aggravating, and it's just not right.

It's time to take control and even the score.

Every day I get calls from fellow appraisers wondering why they keep losing jobs to those less qualified ”appraisers.” I also get calls from our associates asking how to write-up the invoice for a five-figure appraisal job.

The difference is the appraiser’s ability to sell – a rare skill indeed.

Anyone who can Sell AND has Credentials is UNSTOPPABLE.

To be included in this exclusive tele-seminar you must register now, because we only have a limited number of telephone lines available.

Go to the ServiceMarketingGuru site to learn more.

Don’t wait another second. Get on board now. I know this will fill up, so claim your spot now.

No whining to me when you get shut out because you did not act quickly.

Claim your free seat at ServiceMarketingGuru dot com
You snooze - you lose.

Best,
Brian Kathenes

Tables & Headers/Footers Make Your Appraisal Report Look Professional

2010-09-04T09:46:00.002-04:00

As a personal property appraisal course writer and instructor since 1994, I've reviewed many appraisals submitted by my students. Non-students also often ask me to review their appraisals for completeness or for USPAP compliance. Other than a couple appraisers who prepare their reports in MS-Excel, most all appraisals I have reviewed are prepared in MS-Word.

Over the years I've often noticed a couple report shortcomings that occur on a consistent basis - specifically, these shortcomings include the failure of the appraiser to make use of MS-Word's "Table" feature and MS-Word's "Header/Footer" feature. (This article focuses on the Windows user. Similar features, of course, are available to the MAC user.)

It is for good reason that appraisers using Windows most often use MS-Word to prepare their reports. MS-Word contains numerous features which, if used, will result in a report that is not only well-designed but also professional in appearance. But, as noted, two of the most important but most frequently under-utilized features of MS-Word are the Table feature and the Header/Footer feature...more

Specialists: Become Listed in "Maloney's"

2010-08-14T09:40:00.008-04:00

I am pleased to announce the return of "Maloney's Antiques & Collectibles Resource Directory." For fourteen years "Maloney's" was published in book form during which time it was hailed as the "...best one-volume research tool in print" (Gannett News Service) and as a Best...Reference Book (Library Journal). We plan on launching a subscription-based online version of the directory this fall and a book version this winter. With over 17,000 resources in over 2,000 categories of antiques and collectibles, "Maloney's" is known for its accuracy and for being the only comprehensive resource of its kind in existence. And now it will be online—fully searchable and constantly updated!

While we are unable to list generalists such as generalist dealers or appraisers, "specialist" resources are welcome to submit their listing application at MaloneysDirectory.com.

"Maloney's" lists specialist collectors, dealers, experts, appraisers, periodicals, clubs/associations, auction services, museums and libraries, suppliers of parts, reproduction sources, reference book sellers, manufacturers/distributors/producers, online sites for specialized valuation research, matching services, grading services, authenticators, repair/restoration/conservation specialists, vendors to the trade and specialized Internet informational websites.

Go to MaloneysDirectory.com. Search by your last name, company name or other fields to see if you are already in the database. If so, you can edit your listing(s) or add yourself under a different specialty area. If not already listed, you are welcome to add your listing if you are a specialist.

As usual, there is no cost or obligation to be listed in "Maloney's." email

Citations and Declarations for the Donation Appraisal

2010-08-08T08:54:00.006-04:00

The requirements for including citations or declarations in any personal property appraisal report normally originate from such sources as USPAP, the IRS, a law or regulation, a societal mandate, or, albeit it rarely, even the client. But given the plethora of applicable IRS regulations, rules, publications and forms, it is often in the donation appraisal report that we find the appraiser demonstrating the greatest of originality in the design of sometimes rather elaborate (and unnecessary?) citations and declarations.

Understanding which IRS regulations, forms, publications, notices, or revenue procedures are required to be cited in a donation appraisal report and which appraiser declarations are mandated for a donation appraisal report can be a challenge—particularly at this point in time during which we are operating under temporary IRS "Guidance" as we await final approval of new Treasury Regulations. The new Regulations will contain changes affecting the appraiser that were generated by the passing of the American Jobs Creation Act of 2004 and the Pension Protection Act of 2006.

Click here to read the entire article.

Ground-Breaking Article Explores Generalist Appraiser USPAP Obligations

2010-08-02T17:03:00.006-04:00

I'm pleased to announce a ground-breaking article written by my Appraisal Course Associates partner, Bill Novotny (left).

Of this article, Bill states:

"The competency requirements for personal property appraisers is often confusing due to factors such as the myriad of different personal property types encountered by the generalist appraiser, laws and regulations that may apply, methodology requirements and geographic competency. When must an appraiser make a competency disclosure to the client as required by the COMPETENCY RULE of USPAP? This article focuses on the object knowledge required of the appraiser and when a lack of competency must be disclosed.

There are many instances when an appraiser has knowledge and experience regarding property types, but that knowledge and experience is often less than that of an expert. What happens when an appraiser thinks that he or she can develop credible assignment results through research and consultation even though they have only limited specialty knowledge with the property type? Must they make a competency disclosure?

This article explores these issues and points out that consultation with experts, even when the resulting assistance is significant, does not necessarily equate to a lack of competency. We must remember that the SCOPE OF WORK RULE, at all times, requires that the appraiser do whatever is necessary to develop credible assignment results. Expert consultation is frequently pursued by appraisers as part of the scope of work required. Such fact finding can be regarded as consistent with the SCOPE OF WORK rule for experienced appraisers. Similar fact finding may be required by the COMPETENCY RULE for beginning appraisers who have little knowledge and experience. The burden is on the appraiser to determine which of the two rules apply. The primary question that appraisers must answer is whether or not they have the requisite knowledge and experience to develop and report assignment results that are credible and relevant to the intended use of the report. If the answer is a confident Yes then, in my opinion, USPAP would not require a competency disclosure."

Click here to read Bill's article "COMPETENCY RULE or SCOPE OF WORK RULE: Which Rule Rules?"

New Issue of eNewsletter for Personal Property Appraisers Contains Hard-to-Find Information

2010-07-28T06:34:00.005-04:00

Another issue of the "ACA Appraisers Update" eNewsletter is now available online. Published by Appraisal Course Associates partners certified appraiser, author and instructor Dave Maloney and AQB-certified National USPAP course instructor Bill Novotny, this issue is loaded with hard-to-find information including Bill's ground-breaking article regarding competency issues faced by the generalist appraiser.

The current edition includes the following articles:

- Generalist Appraisers Face Competency Issues
- Can Museum Appraiser/Volunteers do Appraisals?
- Internet Resources Are Ephemeral
- IRS Guidance: Donation Appraisals for Artwork Exceeding $20K FMV
- Citations and Declarations for the Donation Appraisal
- Maloney's Antiques & Collectibles Resource Directory To be Published Soon

If you did not receive your own copy by email, you can still read it by going to the eNewsletter archive at http://www.appraisalcourseassociates.com/archive/. While there, be sure to sign up to automatically receive future editions of the "ACA Appraiser Update" eNewsletter.

5 Easy Rules for Networking

2010-06-18T14:31:00.004-04:00

By Todd W. Sigety, ISA CAPP

There has been a fair amount of discussion both here on the Appraisers Post and on some LinkedIn appraiser groups about the benefits of social media and online networking. With that in mind, I discovered an interesting article on the CBS Moneywatch.com site called Networking Without Looking Desperate: 5 Rules. As more of our networking moves to online forums such as Social media sites, blogs and videos, the more appraisers need to be aware of current technological trends which can prove beneficial in operating an appraisal practice.

The article states that networking should be part of your ongoing business activities and plans, not something that is done on the spur of the moment or with little thought and foresight. I think this is a very important point to keep in mind. Networking should be part of your business plan, and I just dont mean online, but both real face to face networking and virtual networking.

The 5 rules mentioned in the article were

• Nurture Your Network...Patiently
• Ask How You Can Help
• Know When to Ask - and How
• make the Web Work for You
• Shake Some Hands

The five rules will keep your networking planning current and productive, and of course growing. By nurturing your network you want to keep in touch with your contracts on a periodic basis. This is done in order stay connected so when you do need some advice or assistance your group of contacts will not wonder where you have been or why you only connect when you need advice. Keep you network advised of what you are doing, but also don't overdo the contact either. You should keep a good balance of updates, questions and answers.

In asking how you can help, you present yourself to your contacts as a resource available to help and assist. By staying engaged with your contacts you will benefit when it comes time for your network to reciprocate. In Know When to Ask - and How, make sure you are asking questions of the right individuals in your network, and ensure you are not asking them to do your work. So many times I have seen request for help where there was no preliminary research done, no foundation. If you are going to ask for assistance from your network, make sure you have done your proforma investigations and understand the situation before asking for assistance. I have seen request where appraisers ask for assistance on an artist, and some of the responses were, have you tried Google? The point is pretty clear, dont ask your network to do basic foundation research for you. What you want from your network are specifics, and clarifications of the nuances of a question or appraisal methodology.

Click the Read More below for the rest of the article.

Making the web work for you is very important. I have mentioned many times that in order for online networking and marketing to work, all online activities have to be coordinated and used. You may have a website, yet by adding a blog brings additional exposure, same with social media such as LinkedIn and videos on You Tube. The appraiser should be using it all, and perhaps more importantly, coordinating it all. Just having one exposure area on the web will not help build networks, a client base, or greatly aid your overall exposure. Using multiple methods, all linked and coordinated with the same message and brand will.

The final point is to shake some hands. In other words, dont forget the old fashioned way of networking, which is face to face. It will probably be more beneficial for local contacts, but also networking works well while attending classes and conferences. Dont be afraid to reach out and make connections. A plan for networking during a conference is important. Know what you wish to accomplish and who you may wish to meet and why. You will benefit more if you network with a purpose and not just to meet peers.

To read the full CBS MoneyWatch.com article on networking, click HERE.

Angels and Demons: A new source for amulet appraising and identification

2010-06-17T19:12:00.003-04:00

June 17, 2010

It’s been a while since my first blog and, in the long interim, I’ve been to Israel and Jordan.

Aside from visiting some collectors and seeing what’s being offered at some of the galleries and stores there, one very astute collector encouraged me to visit a special exhibition at the Bible Lands Museum in Jerusalem.. This is a museum that hasn’t got much attention over the past 18 years of its existence. However, it is a jewel of a museum, sitting in the shadow of its much larger neighbor, the Israel Museum. It is a lovely space with beautiful galleries and clearly organized collections. Even though the galleries are well lit, the architectual space reminded me of the dark, monumental stone palaces and tombs of the Ancient Near East. My only annoyance was acoustics. One person with very thin high heels was trying to find the way out in a real hurry and made quite a racket on the stone floors.

Perhaps most relevant for readers of this blog is the fact that the entire museum was conceived by, supported by, and organized by very passionate and philanthropic collectors Elie and Batya Borowski. Dr. Borowski began collecting while hiding during WWII in Switzerland and built a magnificent collection in the successive years. Visit the museum’s website more information, www.blmj.org.

If you go, plan to spend several pleasant hours wandering through the permanent exhibition which is organized chronologically, although it is interpreted thematically and references many of the customs, language, trade, and economic related to the peoples who wrote the Bible or who were described in it. There are some amazing artifacts.

Why did I end up here and why am I sharing my visit? The Museum, in line with its bold approach to interpretation and emphasis on artifacts, is also showing an extraordinary show entitled Angels and Demons: Jewish Magic through the Ages. The exhibition’s exquisite catalogue supplements the elaborate wall texts and expands on mystical practices and concepts in Judaism, including Kabbalah throughout the ages. For the collector, however, this was a rare opportunity to see an expansive array of amulets, magic bowls, figurines, magical texts from ancient times, spanning the Ancient worls, the Byzantine Age,the Medieval period, the Age of Enlightenment, and up to the present. Many of the objects were carefully selected from Israel’s museum and academic collections. However, a large and important of the exhibition was supplied by very well-cultivated private collectors who chose handsome and unique artifacts from their extensive private collections. The catalog is sure to become an indispensible tool for those trying to build a solid collection among the amulets that collectors (and appraisers) frequently encounter in today’s market. Now, when I have to appraise an amulet – and I’m frequently encountering all sorts of amulets from many eras and customs and regions – I will have this exhibition catalogue close at hand.

More soon on what’s hot in Judaica collecting.

Corporate Counsel New Media Survey Released

2010-06-01T17:16:00.006-04:00

Consultants Greentarget recently released a study and survey of how in-house corporate general counsels are using new media, including blogs, and social media. As this has been of interest to me, and should be to other appraisers, it is always good to gather information on how others professionals are using New Media.

The in house corporate counsel survey looked at a group of 164 attorneys responses and how they were taking advantage of new media. It did show that traditional methods, such as trade journals, conferences and press releases were dominate, yet more and more in house attorneys are using new media platforms to expand and enrich traditional networks.

In general the survey stated of the AmLaw 200

Blogs are up 147% since August of 2007, with nearly half having firm branded blogs
Every AmLaw 200 firm has a LinkedIn Account
31 of the top 100 AmLaw firms have a Facebook Account
76 of the top 100 AmLaw firms have a Twitter Account

Interesting that blogs are increasingly preferred fir gaining business and legal industry information.

To read the full report (37 pages), click HERE. It is an excellent report with some good charts and graphs, I recommend appraisers who are interested in New Media read the full report.

Tuesday, May 11, 2010

While at first blush, the French expression — “Plus ça change, plus c’est la même chose — the more things change, the more they stay the same” — might seem an apt description of Greentarget’s recent research about the adoption of new media by the in-house legal community, a closer look confirms that change is more extensive than many pundits have appreciated to date. In addition to confirming that referrals from trusted sources and credentialing activity (i.e., demonstrations of thought leadership) remain the two most important factors considered by corporate general counsel when they seek to hire outside lawyers, several of the survey’s findings convey significant new trends in the way that information is disseminated and shared by members of the legal community.

While the more traditional marketing channels for law firm credentialing continue to dominate–publishing articles in trade journals, speaking at industry conferences, and being quoted in the press–in-house attorneys now are using new media platforms to deepen their professional networks; to obtain their legal, business, and industry news and information; and to enrich their social and personal lives. Most importantly, they expect that trend to accelerate in the future.

As law firms and their lawyers embrace social media technologies at an accelerated pace with wide-ranging levels of participation, adoption, and engagement, the Corporate Counsel New Media Engagement Survey was designed to explore the very degree to which in-house counsel, the primary purchasers of outside legal services, are listening.

Highlights of the Corporate Counsel New Media Engagement Survey:

Click the Read More below for the rest of the article.

New Media Consumption, Familiarity and Use

• 53 percent of in-house counsel expect that their consumption of industry news and information via new media platforms will increase over the next six months to a year.

• 69 percent of counsel aged 30-39 expect that their consumption of business, industry, and legal news and information will increase over the next six months or in the next year compared to:

– 57 percent of counsel aged 40-49
– 47 percent of counsel aged 50-59
– 52 percent of counsel aged 60+ years

• The social networking and new media tools that in-house counsel most frequently use for professional reasons are LinkedIn, blogs, and Wikipedia.

• The social networking and new media tools that in-house counsel most frequently use for personal reasons are Facebook, Wikipedia, and YouTube.

Go-To Media Sources

• While in-house counsel continue to rely on “traditional media” as their leading sources for business-related news and information, 43 percent cited blogs and 26 percent cited social media Web sites (Twitter, Facebook, LinkedIn, etc.) among their top “go-to” sources.

Credibility

• New media platforms receiving the highest ranking by in-house counsel for their credibility as information sources include Martindale-Hubbell Connected, LinkedIn, Wikipedia, and blogs.

• Of the 97 respondents who never use Martindale-Hubbell Connected for professional or personal reasons, 36 percent say it is somewhat or most credible which likely speaks to the strength of the Martindale-Hubbell brand.

• While Martindale-Hubbell Connected is not used as widely as a more commonly used platform, such as LinkedIn, it is regarded as highly credible among the small number of in-house counsel who currently use it as well as by those who don’t.

Influence on Business Development

• In-house counsel ranked the following activities as “most important” for helping them to research outside counsel for potential hire:

1. Recommendations from sources you trust 73 percent
2. Articles and speeches the lawyer has authored 38 percent
3. Bios on the firm’s Web site 30 percent
4. Blogs published by lawyers on relevant topics 27 percent

• Half of in-house counsel agree or somewhat agree that in the future, high-profile blogs authored by law firm lawyers will influence the process by which clients hire law firms.

• In contrast, only 10 percent of in-house counsel believe that a firm’s prominence on Twitter will drive business development.

Law Firm-to-Client Communication

• While the majority of in-house counsel aren’t accessing content from their law firms via new media tools (Twitter feeds, blogs, Facebook pages, LinkedIn discussion groups, etc.), 51 percent said that they would engage these channels to receive relevant information from their firms. This revelation suggests that when law firms start developing content-rich communications, in-house lawyers will receive them more willingly via new media channels, but their interest will be piqued by the substantive information, not by the delivery mechanism.

Wikipedia

• Wikipedia ranked among the most credible sources of industry news and information (behind Martindale-Hubbell Connected and LinkedIn).

• Consistent with its high scores in familiarity, professional and personal use among counsel of all age groups, Wikipedia maintains strong credibility with this audience as well, which is significant given that its open, uncontrolled platform often is criticized for its inaccuracy. This finding may suggest that those respondents who use new media tools (such as Wikipedia) appreciate them as a “community-generated” offerings, willingly trading off questions about the validity of their data for the “open” process by which they receive, share, update and/or correct their content.

• Despite Wikipedia’s broad familiarity and professional use among in-house counsel, only 13 percent of in-house lawyers have viewed the Wikipedia pages of their current and prospective outside law firms.

Download a full copy of the research report here.

For more information, please contact:

John Corey at 312.252.4102 or jcorey@greentarget.net or Aaron Schoenherr at 312.252.4103 or aschoenherr@greentarget.net

ASA Education Opportunities

2010-05-26T12:50:00.002-04:00

Upcoming Pratt Courses

June 16-17

The Business of Contemporary Art

SE100PP: USPAP for

Personal Property Appraisers

June 14-15, 2010

Pratt Institute Center

The objective of SE100PP is to familiarize students with the recognized standards governing professional appraisals. This is the 15-hour National USPAP-PP course approved by the Appraisal Standards Board of the Appraisal Foundation and is developed specifically for users of Standards 7 & 8, including GJ, PP and MTS. Students are provided a current Uniform Standards of Professional Appraisal Practice (USPAP) manual and current book.

NOTE: This course does not meet Real Property state licensing requirements, but is required for reaccreditation.

For more information about registration, contact Karen D'Angelo at kdangelo@pratt.edu or call the Pratt Institute Center at (212) 647-7199.

Pratt Institute Center is located near Greenwich Village in Manhattan, New York.

The Appraisers Secret Weapon

2010-05-20T10:53:00.002-04:00

Journal of Advanced Appraisal Studies
Todd W. Sigety Editor

I look forward each year to the professional publication. This year was extra special for myself personally and professionally. This 2010 edition contained the my first publication in a professional journal. This book if you are familiar with previous editions will not disappoint. I just finished it last night and was impressed with the various topics. I found several to be very useful and quite informative. A few of the topics that were covered are For Love or Money: Antiques as Investments, Appraisers v/s Authenticators, Personal Property Appraising, The Element of Time and Price Anomalies and Establishing the Appraisers Library ( which was my own work.) A few that really shed light on subjects that I don't normally study on were Reading a Two-Dimensional Artwork: Suggestions for the Generalist Appraiser and Folk Art for Appraisers both of these were just stellar and will be helpful in my career in the future. In fact anyone in the looking for the more serious aspects of this business will find all of these articles useful, meaningful and relevant to the current markets. This is a highly recommend work for the professional appraiser.

Remember Knowledge is Power, So Arm Yourself

Declaration of Independence Webinar by Kathenes

2010-05-19T15:10:00.007-04:00

An ISA-sponsored webinar titled: "On the Trail of the Declaration of Independence: The search for the "National Treasure" will be presented by Historical Document and Manuscript Expert Brian Kathenes, ISA CAPP on Tuesday, June 1 8PM EST/ 7:00PM CST

In this webinar Kathenes will identify what you need to look for when appraising copies of the Declaration of Independence.

Several years ago, a copy of the Declaration of Independence sold for more than $8 million.

Hundreds of your clients and prospects think they might own one of those rare copies.

Chances are they do not BUT – as a professional appraiser, knowing the difference between a museum store souvenir, and the many different valuable versions of America’s most cherished document can set you apart from the generalist appraiser.

ASA's Opens Registration for International Appraisers Conference

2010-05-09T17:36:00.004-04:00

ASA's 2010 International Appraisers Conference

Registration Now Open!

Attention valuation professionals: registration is now open for ASA's 2010 International Appraisers Conference! Come and be a part of unparalleled opportunities to network, innovate and learn. With all new, exciting education programs focused on the latest industry trends, the 2010 conference spotlights the future of the industry and how you can gain the competitive edge. This year's conference will be held at the JW Marriott Resort Hotel in Las Vegas, NV July 25-28, 2010.

A few highlights of this year's conference include:

1/2-day Multidiscipline General Session with Key Industry Speakers
Enhanced Networking Opportunities
World renowned hotel - JW Marriott Las Vegas Resort & Spa Mention ASIASIA to receive discounted rates.
FREE Shuttle to and from the Las Vegas strip
Variety of local attractions

ASA's 2010 Conference promises to be our most exciting conference yet, with cutting edge workshops, more networking opporunities and a special Gala Reception and Dinner. There are numerous ways to get involved with this year's conference - you don't want to miss out. Click here to view endless opportunities.

So, whether you are an experienced valuation professional or just getting into the appraisal business, the 2010 Appraisers Conference is the one event you won't want to miss!

Click here to register now!

~ Hurry! Early registration ends June 14. ~

How To Sell Appraisal Services

2010-05-04T11:15:00.005-04:00

But Nobody Will Pay Me That Much!

Price - price - price. It‘s the most common discussion I have with NAC Inner Circle Members, marketing clients, and fellow appraisers. And, it's the least important factor in making a sale.

I hear it all the time:

― But my town is different.

― Where I live nobody will pay that much.

― People in my area all shop price – they want the cheapest deal possible.

― People in my town want bargains and they always want a lower price.

I have one very short and accurate reply. Bull-O-Knee!!

Here are six facts that refute this ridiculous and erroneous attitude:

1) If this is true, then there should be only one restaurant in town – McDonalds.

2) There should be only one coffee shop in town and it’s not a Starbucks.

3) There must be only one car dealership – a Hyundai dealer - the cheapest car on the market.

4) There is only one dentist and he or she does not give Novocain and uses a dull drill to keep prices low.

5) There is no dry cleaner in town, because it’s cheaper to wash clothes yourself.

6) The cheapest appraiser is getting ALL the business in town, no matter how crappy a job he or she does.

Click the Read More below for the rest of the article.

These mystery towns that I hear about all the time -- do not exist.

I‘m pretty sure that the appraisers who make the “My town is different” claim are dead wrong. Their town is no different than mine or yours. Not ALL people shop price.

The reason appraisers can't get the price they want is simply because they do not know how to sell.

FACT: When there are no other factors in a buying decision, then price is the default buying criteria.

Read that statement again!

TIP: Never quote a price until a prospect knows what he or she is getting for their investment.

FACT: If you give your prospects reasons why price is not a factor they will include those reasons in the decision.

TIP: Give prospects reasons that make price no longer a buying consideration. Include concepts like: time savings, accuracy, convenience, speed of completion, no hassle, reduced stress, confidentiality.

FACT: Only about 5% of all prospects shop exclusively by price.

BIG TIP: Stop complaining and start selling to the people in your town who drive a Lexus and buy their morning coffee at Starbucks.

Knowing how to sell your appraisal services will put you in the top 5% of all appraisers in the nation -- And it will shut down your competitors for good.

Not sure how to effectively and easily sell your appraisal services? No Worries! I’ve recorded a free tele-seminar for our NAC Inner Circle Members and it's available for replay.

In this breakthrough tele-seminar I’ve revealed the top ten selling techniques to help you effortlessly increase your sales, position yourself in the top markets, and do it painlessly and easily.

It’s free to all NAC Inner Circle Members -- just another benefit of being an NAC Inner Circle Marketing Member. If you’re a member, your special replay phone number and security pass code are in this month’s issue of your NAC Inner Circle Marketing Newsletter.

If you’re not a member, you can become an Inner Circle Member at: http://www.bestappraiserprofits.com/.

As an Inner Circle Members you’ll receive the NAC Appraisal Marketing Newsletter packed with marketing and business development tips for just $15.00 per month. Plus – you’ll receive a special free signing bonus worth $29.00.

Once you become a member, you’ll receive a special phone number and the pass code for replaying the Appraieal Selling Tele-semainr.

Don't waste another day. Get all the details at:
http://www.bestappraiserprofits.com/

Collecting and Caring for Books

2010-04-28T18:01:00.001-04:00

I recently performed an appraisal for an estate that contained a large collection of books, many of which were quite old and some of which were valuable.

Unfortunately, most of the books have not been stored properly. Some of them were stored in acid containing cardboard boxes in a relatively damp warehouse. Others were packed too tightly on bookshelves. Still others were stored in close proximity to heating ducts.

I thought you might first be interested in some of the characteristics an appraiser considers in valuing books. Here are a few:
• Publisher
• Edition
• Illustrator
• Material
• Condition
• Publication date

This time we’ll talk about condition, how it’s determined and what can be done to properly care for a book. Next time we’ll discuss how you can determine a book’s edition number.

Here’s a list of terms used in describing book condition:
• AS NEW, MINT and FINE: A book in the same immaculate condition as when it was published. There can be no tears, no library stamps and the dust jacket, if it was issued, must be perfect.
• NEAR FINE: A book approaching FINE but with minor defects, which must be noted.
• VERY GOOD: A used book showing some small signs of wear, but with no tears. Defects must be noted.
• GOOD: The average used and worn book with all its pages present. Defects must be noted.
• FAIR: Worn book with complete text pages, but may lack endpapers, half-title page. Binding and jacket if present may be worn. Again, defects must be noted.
• POOR: A book so worn that its only value is as a reading copy, because it does have the complete text. May be soiled, scuffed, stained or spotted with loose joints, hinges and pages.
• EX-LIBRARY: Must always be noted as such no matter what the condition
• BOOK CLUB: Editions must always be noted as such no matter the condition
• BINDING COPY: A book in which pages or leaves are complete, but the binding is very bad, loose or off.

As for caring for old books: here are some dos and don’ts.

Click the Read More below for the rest of the article.

• Books are composed or organic material like paper, cloth and paste and so they’re vulnerable to environmental damage. To protect them from possible damage:
o Don’t expose your books to excessive amounts of light, either natural or fluorescent.
o Books should not be exposed to rapid changes or extremes of temperature and humidity.
o Try not to put your bookshelves against outside walls where temperatures and humidity can vary more widely.
o An ideal temperature to protect books is 70 degrees F. and ideal humidity is 50 per cent.
• Shelving conditions are important:
o Books should stand vertically on shelves and be firmly supported. When books lean it puts pressure on the book structure and the spine can suffer damage.
o If you use bookends, they should be smooth to avoid damaging the book’s cover.
o Store books an inch or so back from the edge of the shelf, but don’t push them all the way against the back. With some room on the edge, you’ll be able to see evidence of insect damage.
• Storing books also requires special care:
o Don’t wrap the books in common household plastic which will emit gases that degrade the books.
o Don’t store books in garages, basements, attics or storage warehouses that are not climate controlled.
o Use boxes made from alkaline corrugated cardboard available from conservation supply companies.
• Handing your old books:
o Wash your hands first. Body oils can accumulate over time.
o Don’t pull a book off the shelf by its headcap, or the top of the binding. This can cause it to break.
o Use care to not drop your books.
o Don’t press a valuable book flat to make copies of its pages. This can damage the binding.
o When working around old books, don’t have a ball point or felt tip pen in your hand. Use pencil.
o Use only paper bookmarks. Metal or leather can tear or stain the pages.
o Don’t oil leather book bindings.

Thanks to the American Institute for Conservation of Historic and Artistic Works for these tips. You can visit them online at www.conservation-us.org for more detailed information.

LACMA's curious new Henner acquisition

2010-04-27T16:24:00.006-04:00

LACMA's new Henner acquisition and the market for 19th century European portraits
By Steve Roach

First published in Steve Roach and the art of law

The Los Angeles County Museum of Art has a clever way of selecting and funding some of the art for its collection. Each year it hosts a Collectors Committee event, where donors pool resources to purchase works for the collection. Curators from the various departments present works, giving short but passionate presentations on the object’s importance, condition and its place in the collection.

The members come together for dinner and vote on which pieces to acquire. The 2010 event raised more than $2 million dollars, and purchased some great objects, including what is perhaps the oddest choice in recent memory: “Portrait of Madame Paul Duchesne-Fournet,” by the forgotten academic painter Jean-Jacques Henner (pictured left). It’s the type of painting that most museums today have in storage, if they haven’t already deaccessioned it as it does not fit in with the public’s conception of painting in France at the end of the 19th century which is generally either Impressionism or Bouguereau.

Such was the case with the only expensive Henner to sell at auction in recent years, a sensual “Mary Magdelene” that sold at Sotheby’s in New York for $57,000 against a $25,000 to $35,000 estimate (pictured right). That piece has been let go from a museum's collection not once, but twice. It was bequeathed to the Metropolitan Museum in New York in 1891 by Sarah M. Hitchcock, and in 1928 left the collection. It went through five intermediaries in the next two years until landing in the collection of the Toledo Museum of Art where it remained until it was deaccessioned with several other European paintings in 2007. The picture was last shown in Toledo in 2005, in the exhibit, "The Unseen Art of TMA: What's in the Vaults and Why?"

First of all, I have not seen LACMA's new Henner in person nor did I have any knowledge of it during my time at Christie’s 19th Century European Paintings department. However, for the $335,000 price tag, I would have loved to have seen the curator’s performance, described as "memorable," on why LACMA had to have this piece, because from both a historic and aesthetic perspective, the picture seems a curious choice.

Click the Read More below for the rest of the article.

Henner and the academic tradition
In LACMA’s Unframed blog, Curator J. Patrice Marandel is quoted as stating, “Among the portrait painters of his generation, Henner developed a distinctive style. Less voluptuous than Carlous-Duran’s but more spirited than Leon Bonnat’s, Henner’s portraits were particularly appealing to a clientele eager to display in a dignified manner their newly acquired wealth and social rank.” The best talking point for the picture from the curator is not the quality itself, but that Henner charged his subject 10,000 francs for the picture.

An essay in The Collector and Art Critic, Vol. 3, No. 11 from September 1905, notes that “Henner is noted for his deadly coloring in his women’s faces, making them look like opium or arsenic victims; for his elusive outline and the russet hair of his models. His best part is the richness of his color, distinguished by the florid beauty of chromatic opposites…he may have often repeated the same note, yet his sonnets in paint were always tuneful and harmonious.” If the deadly coloring of an arsenic victim is indeed Henner's trademark, then LACMA's picture is at least typical in that regard.

Likely part of the presentation compared the work to John Singer Sargent's great "Madame X (Madame Pierre Gautreau)" of 1883-4 in the Metropolitan Museum, although the Henner lacks nearly all the elements that makes the Sargent so striking (and so daring).

As the witty and dead-on blog “LACMA on Fire” pointed out, when American museums have Henners, they’re not by choice, rather “They were given them long ago, after the death of the aristocratic sitters.” The anonymous author of that blog suggests that the impetus for the Henner's acquisition came from a Dia Foundation-organized show that traveled to LACMA in 2008 where artist Francis Alys collected around 300 copies of Saint Fabiola, a “once-famous, now lost, painting by Henner” (image of the show pictured, right). The show was described as a “clever postmodern Alys goofing off poor academic Henner, butt of a joke he’d n ever understand.”

Henner’s market and comparables
The auction market for Henner works is heavily skewed towards the bottom, with works of questionable authenticity, poor-condition or incompleteness selling frequently at regional auctions for $5,000 to $15,000. An example of a nicer “cheap” Henner is this “Portrait of Young Woman” that sold at Piasa for $8,250 against an estimate of around $2,000 to $3,000 (pictured right, top). Occasionally an example of almost comically low quality pops up at a smaller auction house, such as the picture “Red and Blue” that showed up at James D. Julia and sold for $1,380 against an $800 to $1,200 estimate in 2009 (pictured right, lower).

Looking at peer artists like Charles Carolus-Duran finds another large nearly two meter high portrait that sold at Sotheby’s in New York for $45,000 against a $30,000 to $40,000 estimate (pictured below left). It’s a bit sexier than the new LACMA piece. A large Leon Bonnat genre painting, “The Broken Pitcher” sold at Christie’s New York for $180,000 against a $100,000 to $150,000 estimate, but it too had a greater decorative quality. A beautiful and large Leon Perrault, “The Young Seamstress” sold at Sotheby’s New York for $144,000 against an estimate of $25,000 to $35,000. But like the Bonnat, it was pretty and decorative.

The closest auction comparable from recent memory is a large portrait by the French society artist Jacques Emile Blanche, of similar size, but more animated in the composition with a real personality behind the sitter. “Portrait of the Comtesse de Greffuhle” went unsold at an estimate of $400,000 to $600,000.
There is a near total-absence of comparable prices for large academic portraits, as most sellers are unprepared to accept the generally low estimates that have to accompany these pictures to make them sell at auction. The aggressive estimate on the Blanche effectively killed all interest in the piece.

Thus, those looking to value these large academic portraits are left with few comps, instead relying on instinct and a perception of quality. It will be interesting to see how the new work is displayed, and in what context.

************************
About the author: Steve Roach is an independent appraiser and attorney in Dallas, Texas. He was formerly a specialist at Christie's 19th century European paintings department and now assists clients with the acquisition, liquidation and valuation of Old Master to Modern paintings, contemporary art and rare coins. Visit him online at www.steveroachonline.com.

A Conversation with Bernard Ewell, ASA

2010-04-25T16:04:00.006-04:00

I have posted several times over the past year on the ongoing issues of Park West Gallery and the Fine Art Registry. I have tried to be very fair and have posted both sides of this contentious and litigious issue. I will try to continue with that fairness, but as I dont have full knowledge of the case and many particulars or specifics, I can only pass along what I read and have been told. I try not to be an advocate for either side, as that is not what the Appraiser Workshops Blog is about. I also try hard to only report news and in most cases attempt to stay away from opinion, although every now and then I will editorialize, but only a little.

The AW Blog is pleased to pass along information that is beyond what is in the news and the typical links found on the internet, but comes straight from parties involved in the litigation for your consideration.

This past Friday I had a very interesting conversation with Bernard Ewell, ASA. Many appraisers are familiar with Bernard as he has been a long time participant and active member of the personal property appraisal community. Bernard is also one of the better known appraisers and authenticators of works by Salvador Dali. According to Ewell, he has reviewed and inspected over 50,000 works by Dali, and has been called as an expert witness on numerous occasions.

Many may also know that Bernard does the Dali authentication for Park West Gallery (PWG). He was recently a plaintiffs witness in the defamation suit against the Fine Art Registry (FAR). As posted here on the AW Blog and other sources, the jury did not find that FAR defamed PWG. FAR also counter sued for defamation and trademark infringement. The jury found against the defamation charge, but awarded FAR $500,000 on the trademark charge.

As I have mentioned in past AW blog posts, the recent lawsuit and verdict did not consider the authenticity, value or if the prints were enhanced, although these topics were presented by each side to support their defamation charges and counter charges. The jury was tasked in the complaint to find on the basis of defamation, which typically includes a very high burden of proof. It is possible some of the evidence presented on the prints in question led the jury to believe there are issues of representation, and therefore supported the decision to not find in favor of PWG on the defamation charge. Many of the buyers who testified against Park West Gallery are also involved in a consolidated Federal case against Park West with claims of $22 million. The cases will be heard in Seattle in 2011.According to Ewell, there are also cases in Michigan state court in June as well. These cases, if not settled before hand, very well could be based upon how the jury determines the authenticity of the art and how evidence is presented by the plaintiffs and defendants attorneys.

Now, back to my conversation with appraiser Bernard Ewell. On one of his recent blog post Ewell mentioned that because there are so many different signatures by Dali, authentication is difficult and the signature should only be a small component of the Dali authentication process. (Click HERE to read that blog post by Bernard Ewell.) Ewell states “I and other witnesses testified that Salvador Dali signed his name in so many different ways that it was not a reliable approach. Anyway, I have always followed the dictum that the artwork should authenticate the signature rather than the signature authenticating the artwork.”

Click the Read More below for the rest of the article.

Given the amount of press reports in this case there are statements circulating that some of the Dali works sold by PWG and authenticated by Bernard Ewell were in fact true Dali works, but the signatures were not those of the artist Dali. Ewell insists he has not acted as an advocate of PWG, being true to his appraisal ethics and focusing only on authenticating the art. My main question to Ewell was did he authenticate Dali works for PWG with questionable signatures. He said all of the prints in question with signatures, in his opinion were signed by Dali. The FAR experts seem to agree that some of the prints in question are in fact authentic works of Dali, but they contend the signatures are not by Dali. Not unusual in a court of law to have differences of opinions by different expert witnesses. It comes down to which side can produce the better witnesses and most credible evidence. Ewell also believes there are ulterior motives involved by other Dali dealers and specialists in attempts to discredit the authenticity and legitimacy of the PWG collection of Dali artwork. To many outsiders, that might sound like paranoia or conspiracy theories, but on many occasions it is business as usual in the art world. It is yet to be determined in this particular case.

Ewell stated he has reviewed and studied the provenance of the PWG Dali inventory and found in favor of the art work and signatures being legitimate. Ewell thought he was not able to reveal enough relevant information at the trial on the provenance of the PWG Dali inventory, on his experience, credibility and his authentication process. Ewell also stated to me PWG has shown him Dali’s in the past which they were considering for purchase, and which were not correct in his opinion and PWG declined to purchase.

Ewell also thought his time on the witness stand was cut short by a time allotment by the Judge in order to speed the trail. This, according to Ewell is perhaps why some of the provenance issues were not strongly featured in his testimony and reinforced to the jury. There was also concern that the PWG attorney wanted a more structured testimony from Ewell instead of a narrative on his authentication process which he believes works more favorably with jurors in art authentication cases.

Many appraisers have seen and inspected cruise ship art purchased at sea with little secondary market value. We have also seen this art come out of galleries as well, much property is poster art, lithographic prints, giclee prints and prints with artist enhancements. The art comes with certificates of authenticity and appraisals, but in many cases we find there is little value on the secondary market for this decorative property. At times, purchasers are disappointed to find what they thought had value, when in reality, it did not. It is unfortunate that many of these buyers are a captive audience on the cruise with excess time and funds and decide to make an “investment” in art. As we know as appraisers, novices and art investments usually dont mix. Many of these buyers believed in the reputations of the cruise lines and in PWG and therefore had a sense of security. Many made large volume and dollar purchases without doing any due diligence, seeking expert consultations or value research.

So are we back to square one with cruise ship art. Not necessarily, but there still are other cases in June in Michigan and sometime in 2011 in Seattle where the courts and jury will hear how the PWG art was represented and how it was authenticated. These suits are buyers of PWG art who are now directly suing PWG. There still we be opposing experts, with each side presenting specialists to support their claims and positions. Ultimately, it will come down to the credibility of the witnesses and the evidence presented. Working against PWG is the failed defamation case. Meaning, the published articles and statements by FAR may not have been false or at least they did not defame PWG based upon the recent jury verdict.

Additionally, if the prices the clients paid for the art is in fact greatly out of line with the true value of the art, and that is admissible in court, there could be concerns on how the jury would deliberate the price to value evidence. Ewell stated to me he only authenticated the art for PWG and never appraised or valued it. PWG did their own in house appraisals, and as we know as appraisers, that is really not an acceptable valuation within the profession, nor an arms length transaction. Certainly a potential conflict of interest..

A little on business practices, and I asked this of Ewell and he did not have an answer. PWG has stated at their peak, total art sales were in the $300 million range per year, both for fine and decorative art. This includes the cruise ship sales and gallery sales. PWG claims 1.2 million satisfied customers. I wanted to know why PWG would not make those few customers who were unhappy whole or find mutually agreeable settlement terms. Or just refund the purchase price less shipping and a stocking charge and resell the art. It is only a small percentage of total sales, and the bad publicity being generated would certainly be ratcheted down. I think the negative publicity and press coverage has done more to hurt PWG than their sales practices. Is it arrogance? Is it that you just get too big and powerful as a company you feel you don’t have to work with dissatisfied clients. Perhaps PWG believe they are in the right and doing the right thing, the work was authentic, represented fairly and if so, why refund? Regardless, I would think a refund and confidentiality statement would have made most of this go away, at least in the courts, and it would cost far less in lost sales, legal fees, and the public relations campaign to support their corporate image, not to mention the debate in the court of public opinion.

It will be interesting to see how the June lawsuits in Michigan against Park West Gallery will be decided. It should help the appraisal community bring some form of closure to the value of cruise ship art and the issues of provenance, sales practices, how the pieces are represented and auctioned and statements of authenticity and value.

As with the past trial, Bernard Ewell says he again looks forward to testifying in the upcoming cases.

Journal of Advanced Appraisal Studies 2010 is Now Available

2010-04-20T17:35:00.000-04:00

The Journal of Advanced Appraisal Studies - 2010 is now ready to order. I have ordered a supply to sell at the ISA conference coming up next week, and the printer/distributor Lulu is now ready to start fulfilling internet orders.

The cost is $55.00 plus shipping and can be ordered by clicking HERE.

More information is on the website at www.appraisaljournal.org

Please support this worthy cause as proceeds go to assist the educational initiatives of the Foundation for Appraisal Education. The Journal has contributions from ASA, ISA, AAA, ANA and independent appraisers and dealers. The list of authors and title of their article follows. There is no other publication available for the personal property appraiser which publishes articles with both depth and expertise as the Journal of Advanced Studies.

Andrew Richmond and Hollie Davis of Maine Antique Digest and the Young Collectors column are contributors, as is Judaica expert Elizabeth Berman, AAA, attorney Mark Gold looks at the deaccession debate, while fellow Appraiser Workshops partner Jane Brennom, ISA CAPP writes on appraisers versus authenticators. I write on price anomalies, touching on the Walking Man, and the Philadelphia Queen Anne compass seat stool amongst other items, Brian Kathenes, ISA CAPP introduces appraisers to coins and Soodie Beasley, ASA AM discusses several furniture designers of the 20th century, and Jerry Sampson, ASA writes about the appraisers library.

In total 18 articles and over 300 pages of personal property appraisal related articles.

Buy your copy today, click HERE to order.

• Logan Adams – Building Bigger and Better Business with the Moving Industry

• Soodie Beasley - Fantasy Furniture by Designers: Mark, Mont, Duquette and Springer

• Elizabeth Kessin Berman – A Time to Value and a Time to Creatively Value Appraising Church and Synagogue Collections

• Jane C. Brennom – Appraisers vs Authenticators

• Robert W. Cook - Lack of Objectivity Leaves Appraisers at Risk: Index Adjusted Good-Better-Best Appraisal Model Offers Partial Solutions

• Robert J. Corey – Lack of Objectivity Leaves Appraisers at Risk: Index Adjusted Good-Better-Best Appraisal Model Offers Partial Solutions

• Hollie Davis – For Love or Money: Antiques as Investments

• Mark S. Gold – The Deaccessioning Debate: What Appraises Need to Know

• Brian Hiatt – Comparison of Different software to Prepare Personal Property Appraisal Reports

• Brian Kathenes – Appraising Stamps and Coins: Tips, Tricks and Hints for Taking the Mystery out of Stamp and Coin Appraising

• Jill Kent – Folk Art for Appraisers

• Elin Lake-Ewald – Original Research and Innovative Appraisals

• Judy Nelson – Reading a Two Dimensional Atrwork; Suggestions for the Generalist Appraiser

• Andrew Richmond - Love or Money: Antiques as Investments

• Felicia N. Rossomando – The Application of Blockage Discounts For an Artist’s Estate: An Art Business Approach

• Jerry Sampson – Establishing the Appraisers Library

• Elizabeth Sebesky – The Art Market: How Lending Fuels Art Crime

• Paul Shutler – The Importance of Being Provenanced

• Todd W. Sigety – Price Anomalies

• Scott Zema – Personal Property Appraising and the Element of Time

Click HERE to order.

Advertise for what you want AND for what you don’t want.

2010-04-13T09:56:00.004-04:00

Arctic explorer and MARKETER Sir Ernest Henry Shackleton, (February 15, 1874 – January 5, 1922) lead four Antarctic expeditions and was knighted for traveling the furthest south of any human during his voyage aboard the Nimrod.

Shackleton is best known for leading the disastrous Imperial Trans-Antarctic Expedition, commonly known as the "Endurance Expedition" and "Shackleton's Voyage," from 1914 to 1916. Shackleton failed the goal of crossing the Antarctic continent on foot, but became known for his leadership abilities.

His ship ‘‘The Endurance’’ became stuck in the ice and Shackleton lead his men to a safe spot on Elephant Island and then traversed 800 miles of the open Antarctic Ocean to South Georgia Island with four other men. He then managed to cross mountains to reach a whaling station at Grytviken.

Upon his arrival he found a ship to rescue the rest of his team who were left behind on Elephant Island. All men on The Endurance survived their ordeal in the Antarctic, after having spent 22 months in the Antarctic.

So how did he manage to round up a crew for this most amazingly dangerous journey? He advertised for what he DID NOT want. No wimps! No freeloaders! No untrained city boys!

Here’s the ad: “Men wanted for hazardous journey. Small wages, bitter cold, long months of complete darkness, constant danger. Safe return doubtful. Honor and recognition in case of success.”

As a marketer of your business, you must do the same thing. Advertise for the clients and customers you don’t want. Scare off those who will only cause you grief.

One our web URLs is: www.PremiumAppraisalServices.com. It is designed to let any potential client who reads it clearly understand that we are not the cheapest guys on the block. It tells them: ‘‘If you want cheap, don’t click here.’’

It also tells them: ‘‘If you think you’re going to negotiate with us to get us to reduce our fees, or allow you to add more stuff to the job without an addition charge, you are sorely mistaken.’’

Attract and court the clients and customers you want. Repel and discourage the ones you don’t.

Set your standards, then let the world know how you do business.

I'm setting up a marketing summit late spring. If you want to be a part of it, call me (908) 459-5979 or e-mail me at brian@kathenes.com. Do it now. It will fill up fast.

Stay well and happy!
Brian

ASA Webinar on Frames

2010-04-07T21:09:00.004-04:00

ASA Sponsored Webinar, Friday April 30th 3:00 EST

KNOW WHAT YOU SEE

Presented by Bill Adair of Gold Leaf Studios in Washington, D.C.
Mr. Adair stated that the learning points are:

Survey of materials and techniques in frame making

Brief overview of the history of frames as related to painting

Identification of the various styles-Italian, Spanish, French, and English

Other related issues to consider with frames

Brief suggested bibliography

Webinar will be 50 minutes long with 10 minutes for Q&A at the end.
Registration: $75.00 for ASA members; $85.00 for non-members online registration at www.appraisers.org/ASAHomepage go to the education box, then select course catalog, scroll down to the PP course offerings to find WEBKWYS for the webinar and click Upcoming Offerings for registration; or call 1-800-ASA-VALU

Mr. Adair is a recognized expert in the world of frames. Bill is not only a master gilder, but conservator and frame historian who writes and lectures on the art of the frame. As per his website Mr. Adair is the founding director of the International Institute of Frame Study and is also a founding member of the Society of Gilders. This webinar is not to be missed by appraisers and knowledgeable collectors. We hope that you will join us for an hour with Bill Adair.

For more information about Mr. Adair's background and accomplishments please refer to his website: www.goldleafstudios.com

Don't Miss "The Art of the Steal"!

2010-04-03T13:58:00.010-04:00

I have a confession to make. I'm a film freak. It's in my genes - my mother, in her 80s, HAD to see "Boogie Nights" because it was up for an Oscar, you know, let alone being Burt Reynolds' comeback (as short-lived as that was). You don't fool with us film freaks -- we go it alone, sitting way up front so as to be enwrapped by (or is it "into"?) the film with our small "layered" (only REAL butter, please) popcorn. Don't chomp loudly or swirl your ice! And if you whisper, you're playing with your life!

That being said, no appraiser or art connoisseur should miss "The Art of the Steal," a 110 minute documentary by Don Argott on the Barnes Foundation and the will of its founder, Dr. Albert Barnes (1872-1951). After growing up poor in Philadelphia, Barnes discovered the cure for gonorrhea (!), befriended artists in Paris, and amassed probably the largest collection of post-Impressionist and early Modernist paintings said to be worth $25-$30 billion, yes, billion. He created a foundation to place his art in a boutique type setting to be studied, rather than in a museum, and was open to the public only a few days a week. Matisse called the Barnes Foundation "the only sane place to see art in America."

Film critic, Manohla Dargis, opened her review in the NY Times Feb 26th with the following: "Money, power, race, a mansion stuffed with treasure, a city plagued by scandal - about all that is missing from "The Art of the Steal," a hard hitting documentary about a high-cultural brawl, is a hot woman with a warm gun." And that's the pace of this intriguing real life drama. It takes place over the last twenty years when art, culture, politics, tourism, wills and trusts, race, academia, journalism and charitable foundations collide in what is referred to in the film as the largest non-profit hostile takeover.

While many main characters on one side of the issue refused to be interviewed, the facts remain riveting as told by the likes of Julian Bond, Gov. Ed Rendell, LA Times art critic Christopher Knight, to name a few. If you're not familiar with the Barnes collection, this is a short fascinating primer. The documentary taken as a whole raises the ultimate philosophical quesiton, "who does 'art' belong to?" and exposes the "long arm" of the powerful, the wealthy and non-profit charitable foundations thought only to be benevolent.

Meanwhile, don't try to reach me Thursdays or Fridays after 4. I'm probably getting my weekly fix. Otherwise, I'm REALLY testy on the weekend!

(And if you're into foreign flicks, don't miss Swedish film "The Girl with the Dragon Tattoo" based on world's second best selling novel with 8 million copies worldwide and highest grossing film in Europe in 2009. It's gritty but great!)

A Few Openings Still Left for the Good, Better, Best Appraiser Workshop - May 15 & 16

2010-03-31T16:22:00.000-04:00

As many of you may be aware, Jane I and I hold an appraiser workshop at my shops in Alexandria, Va. The program is excellent for both new and experienced appraisers. We have an excellent work book, and as the class is limited to only 10, plus the two instructors the class is very interactive and hands on. Because of the small size, it is more discussion based, rather than a series of lectures. If you are interested please contact me for more information at 703-836-1020 or toddisg01@gmail.com.

Thanks,

Todd

THE NEXT GOOD, BETTER, “BEST” APPRAISER WORKSHOP
“ACTIVE LEARNING AT ITS BEST”

SATURDAY, MAY 15th and SUNDAY, MAY 16th, 2010
IN BEAUTIFUL “OLD TOWN” ALEXANDRIA, VIRGINIA

16 PROFESSIONAL DEVELOPMENT POINTS AND CERTIFICATE OF COMPLETION
COURSE WORKBOOK AND C D INCLUDED

Workshop Sessions:

Close the Sale and Determine The Scope of Work

Prepare Contracts and Obtain Deposits

Prepare for the On-Site Inspection

Research Using New Methods and New Technological Techniques, Creating Bibliographies and Incorporating Printed Documents and Appraisals into New Reports

Learn How to Deal With Client Challenges

Perform an appraisal inspection

Advance Product and Specialty Area Knowledge

Inspect and study the inventory of two antique shops packed full of period and quality revival furniture, decorative arts and fine arts. You may remove drawers, turn over case pieces, inspect backboards and even disassemble/assemble a tall case clock. You will learn how to use ultra violet light to detect restorations to paintings, porcelains and furniture, and learn how to write property descriptions and condition reports. Click HERE for a photo album of the shops:

Your workbook with C D will include actual sample contracts, forms, glossaries and documents which are used everyday by successful and experienced appraisers.

The appraisal business is better than ever even in this economy. Are you going to waste another year trying to figure out how to make money in your appraisal practice? What are you waiting for?

Limited to 10 attendees, no more than 5 students to each instructor. Time and Space is limited! Contact us NOW for pricing and availability. The workshop is lead by Jane C. Brennom, ISA CAPP, and Todd W. Sigety, ISA CAPP.

Click on the link below for further information and registration. Website: www.appraiserworkshops.com or Call The Appraiser Workshops at 703-836-1020

Social Media for Appraisers

2010-03-22T18:10:00.002-04:00

By Todd W. Sigety, ISA CAPP

I wrote a similar post a few weeks ago for the ISA forum, and thought I would also share with those appraisers outside of ISA and the ISA forum.

I was recently reading an article on the legal profession which included a private survey on how law firms planned to promote their services in 2010. I was pleasantly surprised to see that 92% of those responding stated that social media was in their plans. This includes online activities such as websites, blogs, social networking, Youtube, Feeds, RSS, embedded video, images, podcasts, tags, Twitter and social media press releases. But it is beyond any of the singular sites and networks, it is how they all may be used together to gain maximum benefit and brand exposure.

You may not realize it, but appraisal organizations are taking advantage of social media. ISA is actually using many social media concepts for its upcoming conference in Toronto. ISA HQ is sending out internal email blasts to members with images, links etc, there is info on the main website, plus a mini site devoted only to conference at www.assets2010.org. ISA has press releases coming out for both online and print publications, have posted on the news-antiques press release site, have snail mailed brochures, and have other promotional activity planned. ISA has a LinkedIn group, and soon will be active with Twitter and Facebook as well. It is the planning and coordination between various social media outlets that makes the campaigns worthwhile, any one on its own might produce few results, while as a group, the promotional efforts start to take hold. The social media sites are excellent ways for groups and organizations to stay in touch with their members. AAA has been active with both Twitter and Facebook.

In September, 2009 I posted on the Appraisers Post about a Realtor's technology survey (click HERE to read). The survey revealed that real estate professionals were using social networking sites with more frequency. As a matter of fact the increase in the use of social networking sites rose from 33% surveyed in 2007 to 84% in 2008.

Now add in the recent survey from law firms, and it shows the importance of not only an online presence, but the connection and coordination of all available online promotional, marketing, and networking opportunities.

Click the Read More Below for the rest of the article.

For example, you can send out a free press release, and also have it posted on a website, a notice about the release can be send to connections on a networking site such as LinkedIn and also Tweeted to followers. You can easily record a video or podcast and have it hosted online. Social media networking keeps your name in front of fellow appraisers and clients, drives visitors to your website, and hopefully, turns more business referrals and inquiries into paying clients.

I have been experimenting with blogs and also now with LinkedIn, trying to build a sufficiently large number of connections with appraisers and related fields for networking. In fact, LinkedIn has several great groups for appraisers with some very interesting discussion topics. News of what other appraisers are doing and working on is interesting as well (I like to hear what other appraisers are doing). With LinkedIn (which is for business networking)you can post a profile, and also update connections on what you are doing, as well as members of the select groups you belong to. You can start discussions within a group and invite other LinkedIn members to join your groups or become connected to your network. I recently signed up with Facebook and Twitter, although I am just starting to learn each system. On both the Appraiser Workshops Blog and the Appraisers Post I have recently added icon's and menus at the bottom of each post for easily sharing of content with social media organizations. So if there is an article of interest, and a reader wanted to post on Facebook or send a Twit, it is easily accomplished, and the news starts to go viral.

I would highly recommend all appraisers visit LinkedIn and sign up (www.linkedin.com). It is free, but for the process to work, you do have to devote time to posting and working with and learning the site. I can now reach more appraisers through my LinkedIn connections and blog posts than I was able to on the ISA forum.

I again wish to emphasis that for social media to work effectively you need a plan, and also need to combine many of the elements into a cohesive and recognizable brand, just doing one will probably have little effect and little added value. Some experts say you should set aside a certain time every day to work on your profile and connection updates.

Social media is the currently one of the fasted growing area of web 2.0. Many appraisers were slow to embrace the original web, software, websites, email etc. I highly recommend that instead of being behind the curve and playing catch up, that we as professional appraisers start to take advantage of what is available to market our practices and reach new clients. Remember, many clients and users of appraisals are also using social media as a guide in finding and locating competent appraisers.

After joining LinkedIn, there is a good appraisal group for professional appraisers that I help manage with Brian Hiatt of Collectorpor software. I think it is one of the larger and more active of the independent sites. I encourage all to join. Just click on the banner in the right sidebar.

The Barcelona Chair Reconsidered

2010-03-18T00:38:00.008-04:00

We all know this iconic chair and we know it was designed in 1929 for the German national pavilion at the Barcelona world's fair, from which the chair was named. Two of these chairs were created and set side by side to receive the king and queen of Spain on their official visit to the building. The broad, white tufted leather chairs were modern thrones. The design was based upon the ancient Roman X-frame curule stool which was reserved for the most powerful.

Ludwig Mies van der Rohe is credited for the design of this chair. But many of us might not know that Lilly Reich (1885-1947) played an enormous role in the development of many of Mies van der Rohe’s designs. Though she has been credited in a few scholarly journals and books, her name has largely been forgotten. It is interesting to note that Mies did not fully develop any furniture designs successfully before and after his professional and personal relationship with Lilly Reich.

After all, architecture and industrial design were considered a man’s domain. There were male as well as female practitioners, and yet history books are filed with primarily men’s. When Mies was asked to design the German Pavilion, he chose Reich as his co-collaborator. Reich was responsible for the curvilinear forms and vivid colors of Mies work. She brought a soupçon of sophistication to their designs. She understood that fashion was integral component. Reich continually explored the visual as well as tactile qualities exploring the contrasts between polished metal and textured surfaces.

Click READ MORE below for the rest of the article.
In 1930, when Mies was chosen to head Bauhaus, he took Reich with him to head the weaving studio and interiors workshop. Many viewed her as Mies assistant and did not give credence to the forward-thinking, well-trained and successful designer that she was. She was met with criticism. She also became the first woman (at a time when few women served as instructors) to teach interior design which included also furniture design.

When Mies left Germany in 1938, Reich continued to manage his personal and business affairs. An absolute professional, she was talented and she was keen. She remained indispensable to him long after his departure to the US. She took care of his office, his legal disputes and saved his drawings. She helped his family financially -- his ex-wife and three children -- who had been left behind. During their partnership, Reich bowed to his authority leaving the overall concepts to him while compulsively attending to refinements and details.

In September 1939, Reich visited Mies in Chicago. They spent a few weeks together. Mies did very little to persuade her to remain. She returned to Germany to deal with a copyright case against the company Mauser regarding steel-tube furniture she developed with Mies. And then the war broke out. She faithfully continued a long and dutiful correspondence with Mies. But she never saw him again.

The Barcelona chair was produced commercially by a series of European manufacturers before WWII. In 1948, Knoll Studio attained exclusive rights to manufacture this chair with the Knoll Studio logo and the Mies signature stamped onto the frame. The original chrome-plated steel frame was replaced with stainless steel and the area where the bars intersect was refined. It was not until the 1970s when other manufacturers began producing knock-offs.

So the next time we have the opportunity to appraise a Barcelona chair, under the category of “designer” shouldn't we consider Lilly Reich's name?

When Assistance is Provided by Others

2010-03-15T09:30:00.015-04:00

Recently, The Appraisal Foundation's Appraisal Standards Board (ASB) responded to a query submitted by my Appraisal Course Associates partner, AQB-certified USPAP instructor, Bill Novotny. The original issue in question focused on USPAP record keeping requirements pertaining to appraisers who provide assistance with an assignment. There clearly are such requirements for the primary appraiser who signs the report’s USPAP certification, but what obligations apply to the assisting appraiser?

The initial query led to even more questions regarding USPAP obligations pertaining to the primary appraiser as well as to the individual providing the assistance. What if the individual providing assistance is not an “appraiser?” If an appraiser, what if the assistance provided was not “appraisal” assistance? What if the assistance provided was not deemed “significant”? This paper addresses these several questions and clarifies USPAP obligations pertaining to personal property assignments in which assistance is provided by others...read all

Values, Fees, Work Product and Communications

2010-03-07T17:21:00.001-05:00

I have been looking for something interesting and insightful to post to the Appraisers Post. I recently came across a real estate site which mentions several important factors about real estate appraising. The central topics or categories were interesting. Some were applicable and some not. Many of the details and specifics did not really fit or transfer to personal property appraising. I decided to take the liberty of using a few of the main categories and filling in the details with my own ideas and thoughts on how they apply to personal property appraising.

The main categories I selected were the ability to develop values, fee structures, quality work product, and communication.

Develop Values
The ability to develop values is of course at the core of what we do as professional personal property appraisers. In order to develop values we must have familiarity with the different types of values and differing market levels. If we don’t understand this, then we are doing a disservice to both our client and our profession. Appraisers also must have the basic and needed product knowledge in order to properly identify and then further develop the proper value as required by our client.

The way I look at assignments and my final value conclusions is rather simple, can I defend them. If I had to take my work file, comps, selected market, comps and final value, could I make a reasonable and rational defense of my final conclusions? Could I explain the value rationale and adjustments. That is not to say there could be legitimate differences in opinions and different value conclusions. The personal property profession includes many subjective factors, yet we should try to minimize those issues and moderate differences. Solid knowledge and a process for determining and developing values is so important to our profession, and all personal property appraisers should stay current with valuation concepts and emerging models.

Click READ MORE below for the rest of the article.

Appraisal Fees
Fee structures are a very delicate subject in our profession. Perhaps more than it should be. What we do have to understand is that we should be charging a rate that reflects our experience, business acumen and professionalism. Our fee structure should include factors such as overhead, expense coverage, time and knowledge base. Fees should be charged at what the market can bear. The fee or hourly rate should include compensation toward office rent, travel, computer costs, software costs, communications, insurance, professional fees, advertising, billable hours, and profit or salary.

In determining a fair compensation structure the personal property appraisers must also consider maximum billable hours versus non billable hours and how many hours per week are actually working on client assignments or other aspects to operate a legitimate professional office. A simple formula for an average billing rate equals expenses and overhead plus desired profit divided by billable hours. After taking these factors into consideration appraisers should also focus on charging what the market can bear. What does that mean? I believe that would be an acceptable range of what the typical, professional appraiser charges in your demographic area. The hourly fee range can be from an acceptable low rate at the lower end of the scale to an acceptable high hourly rate, being at the upper end of the fee scale. Acceptable being the operative word. Outside this acceptable range causes damage and credibility issues for both the individual appraiser and the profession. Charge too little and there is the distinct possibility for fee dilution and the weakening of appraising as a true profession. Excessive charges outside the normal range can also negatively impact the profession and the value of any work product. Think of how attorneys charge. There are some that are very high, and rightfully so, and there are some which are much more reasonable. The personal property appraisal profession should be no different, yet everyone once in while we hear of rather unusually low rates which make many professional wonder how such a low fee can be charged and still provide a quality work product, be in compliance with USPAP in addition to individual societal report writing standards, cover overhead and put a few dollars in the appraisers pocket.

Work Product
Delivering a quality work product is very important to our profession. How many times have professional appraisers looked at a simple laundry list appraisal. I would bet if I asked 100 accredited or certified personal property appraisers if they produced a quality work product, I believe many would say yes. I am sure I would, and I know of many other appraisers who would answer in the affirmative as well. But are we really doing all we can do. Appraisers love product knowledge, but how many really work on our appraisal principles and methodologies, fine tuning our reports to specific client needs and the scope of work. I have noticed at our local DC Chapter events that when we have a good product knowledge speaker we get a large number of attendees, yet when we focus on appraisal theory, the numbers have a tendency to fall off. We all have our likes and dislikes. I happen to enjoy good discussions and debates on appraisal theory and practices just as much as discussing American or English furniture of the 18th century.

Our work product can not be our best unless we view all aspects of what goes into appraising as important and necessary. Yes, USPAP is dry and not very exciting. USPAP is important for our profession, as appraisers need to both follow and understand the various standards and protocols. Understanding scope of work, appraisal concepts and theory is so important in the development of value conclusions and a quality work product. A poor work product is a poor reflection on the profession, and misleads many on what a true and competent appraisal and appraisal report is. If appraisers don’t understand it all from product knowledge to theory, markets, adjustments, scope of work, etc, the final work product will be less than what is should be, and that only hurts the individual appraiser and the profession..

Communications
Communication is the last topic. Communications with our clients about scope of work, intended users and appraisal assignments is going to be an important element in upcoming USPAP modifications. An Appraisal Foundation exposure draft released in January for USPAP 2012-2013 focuses on client communications. Personal property appraisers should start to prepare now for the new communications rules. Although they are not definitive at this point in time, there is enough information to determine the proper and ethical direction for communicating to intended users appraisal service that is straight forward and understandable. It appears the emphasis is going to be on the client understanding what the appraiser is doing, and if that has been communicated properly and to the level that the client understands what he will be receiving in the appraisal document.

The exposure draft states

Therefore, just as the SCOPE OF WORK RULE was created to provide clarity in how to determine and disclose the array of services that appraisers provide for their clients, the ASB believes it will be valuable to have a similar Rule that provides clarity in how to address and disclose the diverse levels of communication that clients request or require.

The COMMUNICATION RULE is proposed for placement following the SCOPE OF WORK RULE. It begins with recognition of the primary expectation of the PREAMBLE that “it is essential that appraisers…communicate…to intended users of their services in a manner that is meaningful and not misleading.” It also clearly places responsibilities on appraisers to serve the public trust during communications at all stages of any service provided as part of appraisal practice.

The Rule covers appraisers’ responsibilities through all their activities, including everything from initial contact with potential clients to interactions with a client, intended users or other relevant parties following completion of an assignment. The Rule does not, however, include or address business-related communication such as completion dates, the timeframe for inspection of the property, or similar activities that are best classified separately as general business practices. Nor is this Rule intended to regulate internal communications among appraisers and others who are working together in an assignment.

To read the full expsorue draft, click HERE.

Artfact and the iPhone

2010-02-27T16:10:00.005-05:00

By Todd W. Sigety, ISA CAPP

In early December I received an email from Susi Prescott at Artfact about the release of a new application for the iPhone. I was immediately impressed and posted on the AW Blog and Appraisers Post. At the time, I was using an older model regular cell and not a smart phone, but I thought the idea of access to Artfact/Invaluable through a smaprtphone such as the iPhone was a great idea. Perhaps more importantly it could have significant benefits for the personal property appraiser.

Last week I had a Doctor’s appointment and when I arrived the receptionist said the Dr. was delayed in surgery, but was on his way to the office. If I could come back in about an hour or an hour and a half they would get me right in to see him. I said sure, and drove over to a shopping center to kill some time. And, there was the AT&T phone store. Well, the time away from the doctors was well spent. I would like to say I purchased an iPhone, but I really think I made an investment in an excellent business tool. And, if you like gadgets like me, it is also pretty cool tool. Although I will say, if it was not for Susi telling me about the app , I don’t know if I would have made the change.

My cell plan could withstand the upgrade, so I purchased an iPhone 3gS with 16 gigabytes of storage for $200.00 (plus some accessories). It has gps, maps, camera, video, calendar, email, clock, compass, messaging, stocks, Youtube, web surfing, wifi, plus the enormous library of applications such as the Artfact app.

For those unaware, an app is a software program designed to run on the iPhone or other smartphone. It is formatted properly for the small screen size. Typical websites can be browsed, but if the formatting is not right, they can be hard to view and utilize, the smartphone application takes care of this. With smartphones we have always had the option to send email, check some websites etc. The development and popularity of smartphone and the software applications happens to make viewing and reading much easier, and gives the phone so much more utility.

Benefits for the appraiser are many, such as access to email and the web. Calendars are great, because they can be synced to from your primary computer to smartphone. The GPS on the iPhone is amazing for location, finding shops nearby, and directions.

Click READ MORE below for the rest of the article.

Back to the Artfact app. I log onto the iPhone/iTunes online store and download the Artfact app, which is free. I have an Artfact account, I sign in, and there on my phone are thousands of comps with prices and upcoming auction info. Some items you need to have a subscription to access, other content is totally free from the Artfact site. The app will even search recent and past auctions, although the full sold lot database of Artfact is not available through the app. As the software is further developed and new versions are released I do hope more of the past auction database, beyond those of Artfact auction listings will soon be included and searchable with the iPhone. I can easily see using the smartphone as a regular tool in my appraisal practice when judging level of property or when looking for a quick on site value range opinion during a walk-thru. For more information on the iPhone app from Artfact, click HERE. If you have an iPhone and an Artfact subscription, there is no reason you should not be taking advantage of this free additional application and use of the Artfact auction site.

In addition to the great Artfact app, Live Auctioneers has an app with past sales information, Christie’s has an app with recent auction results, eBay has an app and LinkedIn for networking. Hopefully, Sotheby's will soon have an application as well. I know I am going to benefit from all of the functions from the iPhone, Artfact and other software being developed for these devices. My main thought of them prior to Susi's email was a texting device for kids, and to send and receive emails. Perhaps I have been behind the times in getting a smartphone, but I am quickly learning, there really are many more uses than texts and email. Thanks Susi.

Public Broadcasting Show

2010-02-27T09:00:00.002-05:00

Last week a 'behind the scenes' look at one of the great museums, The Metropolitan Museum of Art, was aired on the Public Broadcasting System - Channel 13 in New York City. It's not clear whether the show was offered nationally. It was fascinating in scope. The show took the viewer through the various processes by which an artwork is acquired. It was hosted by long time director, now retired, Philippe de Montebello. The act of spotting a work, knowing of its existence, then acquiring the piece was an eye opener. Convincing the director that it is a must for the collection, selling it to the trustees and curatorial committee are the next and difficult steps. Curators explained the specific details of an artwork and what makes it so special highlighting an African power figure, Southern quilt, and a silk and wool tapestry. The curators are connoisseurs in their fields and they know what they are after to fill in gaps for their departments. During de Montebello's tenure, he was responsible for the purchase of more than ca. 85,000 objects. A number of committees review each purchase including the Trustees, Curators, Conservators if needed. The viewer heard from several of the curators, had a look inside the restoration labs, watched as movers carried precious artworks, and viewed various staffers who might be involved in the entire process. The goal of course is to bring the finest art of its type whether Japanese armor or a Van Gogh to the public. It was clear that the museum's staff is in close contact with the best auction houses, dealers, and independent market watchers. The tough job is for the curators to convince the committees that the artworks are key to the collection and to spend the money to acquire them. All of this may seem obvious but to be able to get a first hand look is special. Look for the show no doubt it will be repeated.

Denise Levy, Appraiser

Tribal Art Event at ISA 2010 Toronto Conference

2010-02-25T12:03:00.002-05:00

Jamieson Tribal Art Event

Join ethnologist, museum specialist, and antique tribal art collector & dealer, Bill Jamieson, at a Special ISA Conference Event, Friday evening, April 30th at the ISA Toronto Conference.

Bill is an NAC Associated Specialist focusing on old material from North American Indian, South Pacific, Pre-Columbian, African, Indonesian and oddities from around the world.

Bill has been a radio show guest on Public Radio’s “Value This! With Brian and Leon,” and has worked with Nova and National Geographic. Learn more about Bill at: http://www.valuethisradio.com/guestholdingarea.html

Bill also purchased the Niagara Falls Museum in 1999 which contained numerous treasures, including nine Egyptian mummies which were sold to the Michael C. Carlos Museum in Atlanta, GA. One of the mummies turned out to be the missing Pharaoh, Rameses I, and has since been repatriated to Egypt.

Don’t miss this fabulous event at the ISA Conference on Friday, April 30th, 5:00PM - 8:00 PM.
Register today at: http://www.assets2010.org

Coming Soon - Journal of Advanced Appraisal Studies - 2010

2010-02-20T13:13:00.001-05:00

The Journal of Advanced Appraisal Studies – 2010 will soon be published. Look for the 2010 edition to be available for purchase sometime in late March or early April. I am currently putting the master document together for final copy editing, formatting and printing. I am very pleased with the article contributions for this year and expect the journal to again be widely accepted as a thoughtful and insightful publication on personal property practice. The 2010 article mix and variety is excellent, with an interesting selection of product knowledge content, appraisal theory and methodology and practical appraisal information. The 2010 collection of articles come from both past journal contributors and new authors.

The 2010 edition of the Journal of Advanced Appraisal Studies will contain articles on the following topics:

• Folk Art
• Museum deaccsessioning
• Investing in antiques and art
• Appraising art
• Working with the moving industry
• The appraisal library
• Appraisal software techniques
• Appraiser versus authenticators
• Rarity
• Valuation
• Blockage
• Art crime
• Appraising church and synagogue collections
• Original research methods
• Furniture designers
• Appraising stamps and coins

I will of course post to both the Appraiser Workshops blog and the Appraisers post when the new 2010 edition is available.

The Journal is published by the non profit Foundation for Appraisal Education, and proceeds go to the educational initiatives of the foundation. I would like to thank all of the authors, volunteers and past and present Foundation for Appraisal Education board members for their help, continued support and loyalty to this important and needed project. If we as a profession expect to grow we need to cultivate and encourage those who practice personal property appraising to develop new ideas, theories and methodologies, and the share them with our peers.

As Charles McCracken, D.Ed wrote in the inaugural 2008 edition of the Journal:

Modern personal property appraisers do more than numerical calculations and tabulations. They generate prose that is engaging and explanatory. They write beyond the numbers to share knowledge with peers and a wider audience. The virtues of publishing are many. By contributing to the literature upon which all appraiser rely, they establish themselves as experts in afield, attract jobs well suited to their interests and expertise, and develop a network of colleagues and other professionals.

For the profession, publishing informative pieces about what appraisers do or telling the stories their research uncovers, promotes good will and public trust and demonstrates the rigor or the research conducted. As the appraisal practice evolves, writing for a broader audience, writing clearly, writing for publication is becoming more important.

The 2008 and 2009 versions of the Journal are still available, and can be ordered at www.appraisaljournal.org. As the editor of the journal I am always looking for interesting personal property related articles for the publication. If you think you have an article idea for the 2011 edition (publication estimate of March 2011) please feel free to contact me at toddsig01@gmail.com.

The Next Good, Better, Best Appraiser Workshop - May 15th & 16th

2010-02-03T15:16:00.001-05:00

Workshop Sessions:

Close the Sale and Determine The Scope of Work

Prepare Contracts and Obtain Deposits

Prepare for the On-Site Inspection

Research Using New Methods and New Technological Techniques, Creating Bibliographies and Incorporating Printed Documents and Appraisals into New Reports

Learn How to Deal With Client Challenges

Perform an appraisal inspection

Advance Product and Specialty Area Knowledge

ASA Webinar on Folk Art

2010-02-01T11:00:00.001-05:00

WEBINAR: Antique Folk Art and the Modern Interpretations.

Folk Art encompasses a lot of territory. Paintings, objects, textiles and every other media find their places in the world of Folk Art.

As a rule, modern Folk Art interpretations are not meant to be fraudulent. In fact, most currently made objects are made in homage to past ones. However, the lack of facts or removal of identification causes problems for collectors and appraisers.

Are you aware of the interpretations that are out there in the marketplace? Would you know an antique folk art object from a 20th century revival piece? If not, your due diligence becomes a significant issue for recognizing and appraising this property. It does not matter if you are a generalist, fine art or decorative arts appraiser, this seminar will allow you to see just how closely some artisans interpret antique objects. You will be shown examples of antiques against an early 20th century revival and more recent examples. You will gain an understanding of the interpreter’s work through Susan’s interviews with artisans currently making these objects.

Susan Golashovsky, ASA, is an accredited senior appraiser with the American Society of Appraisers with tested specialties in American Folk Art, Antique Furniture and General/Residential Contents. Susan was involved with the retail end of Americana and Country antiques before becoming an appraiser. Now an independent appraiser based in Doylestown, PA , Susan attends every antiques auction and vetted crafts show that time allows.

Folk Art encompasses a lot of territory. Paintings, objects, textiles and every other media find their places in the world of Folk Art.

The webinar lasts one hour and begins at 2pm EST, Feb. 12, 2010.

This is a great opportunity to earn continuing education credits at a low price!

Non-member: $75.00 Member: $65.00 Designated Member: $65.00

The Web site is http://www.appraisers.org/Education/ViewClass.aspx?ClassID=2362&View=Syllabus for more information and to register for the webinar.

All-New 2010-2011 Edition of the "Complete Online Course in Personal Property Appraising" Now Available

2010-02-01T08:25:00.003-05:00

Appraisal Course Associates (ACA), a leading developer of USPAP-centered instructional books and courses for the personal property appraiser, has announced that the updated 2010-2011 edition of the "Complete Online Course in Personal Property Appraising (Featuring USPAP)" is now available.

"The course has been completely updated to conform to the many changes incorporated into the 2010-2011 edition of USPAP," said course author and Certified Appraiser Dave Maloney. "In addition, scores of enhancements including expanded discussions and new topics make this the most comphrensive and up-to-date online source of core appraisal knowledge for the personal property appraiser," he continued.

The course makes use of Maloney's popular 550-page how-to course book and reference guide for the appraiser entitled "Appraising Personal Property: Principles and Methodology - 3rd Edition" (http://bit.ly/AppraisalBook) as well as The Appraisal Foundation's "Uniform Standards of Professional Appraisal Practice" (USPAP). Narrated video reviews combined with supplemental online readings enhance the learning experience. The course also makes use of self-assessed quizzes, locally-proctored exams, and a graded final appraisal assignment. Read more about the course: http://bit.ly/OnlineCourseReview.

Visit Course Website: http://www.AppraisalCourseAssociates.com/lms.

Guest Access to the Online Course: http://bit.ly/GUEST_OnlineCourse (click "Login as a guest" button).

Is an Appraiser a Fiduciary?

2010-02-01T07:53:00.007-05:00

If deemed to be a fiduciary, appraisers could be held liable for breaching their fiduciary duties. But do appraisers normally perform in the role of a fiduciary? The answer is "No." Though professionals, appraisers typically act in an arm’s-length manner in the capacity of independent contractors but not as fiduciaries.

A fiduciary is one who has a special relation of trust, confidence, or responsibility in his or her obligations to others, as does a bank trust officer, a guardian and his minor ward, the Executor of an estate, a company director, a lawyer and his client, or an agent of a principal (e.g., an estate liquidator or an auctioneer.) A fiduciary is expected to act as an advocate for his or her client who is normally in no position to supervise or control the actions taken by the fiduciary on his behalf. The client must take those actions on trust, and the fiduciary principle is designed to prevent that trust from being misplaced. Fiduciaries who violate that trust can be held liable for doing so.

Ordinarily, fiduciary duties do not attach to the appraiser-client relationship. This is true for all appraisal practice services because the independence required to render an appraisal practice service is fundamentally inconsistent with the status of a fiduciary. According to USPAP and to all appraisal society Codes of Ethics, the appraiser is required to act in an impartial and unbiased manner and NOT as an advocate. The appraiser is prohibited from acting in the capacity of an advocate, and, therefore, is prohibited from functioning as a fiduciary. ...read more

ISA Annual Conference - Toronto, Canada

2010-01-27T17:55:00.007-05:00

On April 30 - May 3 ISA will celebrated its 30th anniversary with its annual conference, Assets 2010 in Toronto, Canada. Over the past few years ISA has become known as leader in presenting some of the best personal property appraisal conference programs in the profession. Speakers at the recent Baltimore and Charleston Conferences included author and arts scholar Wendell Garrett, author and dealer Sumpter Priddy, Tom Savage of Wintethur, Andrew Brunk of Brunks Auction, Wes Cowan of Cowans Auction, Janet Moffitt of the IRS, Ron Fuchs of the Reeves Collection, Art Law author Judith Bresller, Lita Solis Cohen from Maine Antique Digest, and author and scholar Carrie Rebora Barratt from the Maryland Historical Society.

The Toronto Assets 2010 continues in the same tradition. The conference will have strong programs for fine art, jewelry and antiques and residential contents. The Conference is open to non members and of course members from other appraisal organizations.

The recent press release on the conference follows:

(Toronto, Canada) The International Society of Appraisers will celebrate its thirtieth birthday with an in depth three pronged Conference in Toronto on April 30-May 3. The Conference, entitled “Assets 2010”, will consist of programs in Fine Arts, Antiques and Residential Contents and Gems & Jewelry. Conference coordinator Kathryn Minard, ISA, CAPP, and conference co-chairs Irene Szylinger and Catherine Williams and Jim Poag, Gems and Jewelry program coordinator have arranged a lineup of credentialed powerhouse presenters for each session, a pair of dynamic keynote speakers, Robert Ramsay and David Ben, and scheduled tours of such important venues as the Art Gallery of Ontario, the Royal Ontario Museum, the Gardiner Museum of Ceramics, the Bata Shoe Museum, the Textile Museum of Canada, Corona Jewelry Company, the Stephen Bulger Gallery and a tour of a private residence featuring Jamieson Tribal Art.

According to Minard one of the main points of emphasis for this Conference is affordability and flexibility. ISA has arranged very generous rates for participants at the host hotel, the Park Hyatt Toronto in downtown Ontario. It is close to convenient public transportation and is surrounded by a wide variety of eating establishments for all tastes and budgets.

While the Conference will have three distinct sections, participants will be encouraged to pick and choose among sessions to accommodate the cross-over interests of many attendees.

The Fine Art program will feature sessions on the art market, contemporary photography, Inuit art, authentication, insurance appraisals, cross border appraisals and report writing. Presenters will include gallery owners, dealers and auctioneers, university professors and curators, representatives of AXA Art Insurance, the Senior Conservation Scientist from the Canadian Conservation Institute, a report writing specialist, and a representative of the Canadian Cultural Property Export Review Board and cross border appraisal experts from ISA.

The Antiques and Residential Contents program will feature sessions on hallmarks, quilts, Victorian, style and design, paperweights, insurance appraisals, appraising pop culture, cross border appraisals and report writing. Presenters include some of the same presenters in the Fine Art program plus representatives from the Hallmark Research Institute, the assistant curator of the Royal Ontario Museum, a representative of the American Quilters Association and a collection management specialist.

The Gems & Jewelry adds a costume jewelry expert, a representative from Korite International, the maker of Ammolite jewelry from Calgary, a representative from Ontario based Byrex Gems and the author of the Rolex Report as well as several presenters in the other categories.

The Conference itself is very reasonably priced beginning at $575 for ISA members with Super Saver early registration which ends January 31. Rates are slightly higher after that. Special rates are available for single day events and for spouses/guests. The tours and events are also very reasonably priced. To register online go to http://www.assets2010.org.
Site of the course is the Park Hyatt Toronto, 4 Avenue Road, Toronto, Ontario M5R 2E8 Canada, (416) 925-1234. A group discount rate is available through ISA for accommodations at the hotel. Hotel registration is available online at the above address.

For more information contact the International Society of Appraisers, 737 N. Michigan Ave., Suite 2100, Chicago IL 60611, phone (312) 981-6778, fax (312) 981-6787, email isa@isa-appraisers.org, website www.isa-appraisers.org

For more information, click HERE.

Appraisers Post Analytics

2010-01-24T11:02:00.001-05:00

The Appraisers Post continues to draw strong visitation numbers. Even though we have not been as active in posting as I would like to see, and that includes myself, the Appraisers Posts continues to have strong web visitation from our target audience, personal property appraisers. I know I have been very busy over the past two months between several appraisals, antiques shows and the holidays and it has been difficult to find the time to post. I soon hope to increase the new postings as well as do some active marketing of the site.

The website analytics for the past month show 1,003 visitors to the site. There were 589 individuals visiting, revealing that many are coming to the site more than once per month. There were 1,657 individual page views, with 1.65 page views per visit. This means visitors are clicking the "read more" links on the articles. California, Florida and New York have the most visitors, closely followed by Virginia and Texas.

Site visitors come from search engines 58.23%, referring sites 24.83% and direct traffic 16.95%.

The keys to more visitors is fresh content, and as we move deeper into 2010 I hope to see more postings and even more visitors. I would like to thank all Appraiser Post contributors as well as the numerous appraisal groups who have supported the site. ASA has been very active in sending me educational offerings and I have been pleased to post them on the site.

If you are an Appraisers Post contributing author, please post when you have time, if you are not an author and have something to contribute please let me know.

Todd

Critical Changes to USPAP Tele-seminar Set for Monday

2010-01-13T12:00:00.002-05:00

Join Leon Castner, Ph.D., AAA, ISA CAPP, Senior Partner of National Appraial Consultants,
for an imporatant teleseminar:

Critical Changes to USPAP -- A Personal Property Perspective”

Learn about these critical changes and how they will impact your success in 2010.

Only $15.00. Monday, January 18, 2010, 8 PM Eastern.

Learn more at: www.BestAppraiserProfits.com

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Book Review: Appraising Personal Property: Principles and Methodology, 3rd Edition by David J. Maloney, Jr., AOA, CM

2010-01-11T14:34:00.020-05:00

.....................................................................................

Reviewed by Stephen P. Sweeting, ASA, MRICS

As professional personal property appraisers most of us are interested in quality publications on the theory and practice of valuation as well as on the business of appraising. Unfortunately, given the small size of our discipline within the valuation community, new and relevant publications are few and far between. Unlike the larger and more fully capitalized real property, business, and technical sectors of the valuation community, we often have to rely on outdated publications or course-related handouts produced on a relatively small scale. The result is that our profession does not have of a particularly large body of literature.

One of the few bright spots in the personal property valuation publications sphere is Maryland’s David J. Maloney, Jr., an appraiser, educator and writer who has committed to follow-up editions of “ a course book and reference guide” originally published in 2007. The recent publication of the third edition takes the excellent format developed in the first two editions and grows it into an outstanding resource and learning tool for all personal property appraisers.

I first ran one of the earlier editions of Appraising Personal Property: Principles and Methodology less that a year ago when our office borrowed a colleague’s copy. I leafed through the book and saw much of interest, finding it to be comprehensive, logically organized, and well written. But as we were busy at the time the volume ended up in one of those ubiquitous piles of books and journals that characterize the offices of all busy appraisers.

A few weeks later I started working my way through an extraordinarily complex loss-of-value appraisal report involving a high six-figure value work by a pivotal mid-twentieth century American artist. Although I have done plenty of loss-of-value work in the past, I wanted to ground my efforts in as much relevant literature as possible and went back to the volume sitting in my office. What I found was perhaps the most thorough and practical articulation of the loss-of-value concept I had ever seen. As I worked through my appraisal report, the relevant sections on loss-of-value in Appraising Personal Property et. al. served as both a conceptual template and a road map for handling the project.

After finishing my report, I went through Appraising Personal Property more closely. Using the Uniform Standards of Professional Appraisal Practice (USPAP) as its foundation, and integrating theory and praxis, the volume covered appraisal terminology, appraisal principles, USPAP, ethics, property description, research techniques, and appraisal report-writing with considerable depth. The fully indexed book finished off with a highly relevant section on business practices and a number of useful document examples and templates. I concluded that it was very probably the most thorough book on appraising personal property available in the marketplace today. Moreover, because the volume was built around USPAP, it did not get bogged down in the competing terminologies used by various appraisal societies in their education programs. The book was relevant to all personal property appraisers using USPAP as their practice guideline.

So the question arises, is it possible to improve on the excellent second edition of Appraising Personal Property? In short, the answer is yes. The third edition adds 130 pages of relevant material including a much-needed plain English guide to USPAP, useful commentary on the most recent edition of USPAP, additional sample documents and templates, discussions of recent American legislation of particular interest to appraisers in the US, a chapter on legal issues affecting the appraiser, and expanded (and in some cases modified) discussions on pivotal concepts used in the valuation of personal property.

(Click Read More below for the rest of the Article)

Like any work in progress, modifications and edits have resulted in an improved publication. In my comparisons of the second and third editions I found a movement towards more precision in the writing, as well as richer, more detailed explanations of key concepts. In some cases, sections have been substantially reworked to accommodate new data coming from various sources. As a result, there are substantial changes and improvements to the new edition.

As with early editions the book is logically organized into sub-sections within the fourteen chapter format. These sub-sections—along with the comprehensive index—make finding material of interest a snap. I don’t know about you, but I am of the opinion that reference aids should be “over-indexed.” And indeed, Appraising Personal Property evidences a solid understanding of how practitioners use reference books.

Although Appraising Personal Property is an excellent browse for anyone active as valuer, I saw three key uses for this book within my own appraisal office:
1. A learning template for trainee appraisers to use in concert with formal education programs.
2. A refresher volume for our accredited appraisers.
3. A well-indexed reference aid that can be used in the way I used an earlier edition for guidance in my loss-of-value appraisal.

As an Integrated Studies scholar, I have to be impressed with this book’s dovetailing of theory and practice as well as the interdisciplinary approach that considers valuation, ethics, legal issues, and business in one volume. But as a practicing appraiser I see the third edition of Appraising Personal Property as more than a demonstration of integrated thinking. The volume is additionally a first-rate reference tool for any appraiser and an excellent addition to the body of literature for our profession.

In the interest of full disclosure, I should indicate that I will be working with the book’s author on a Canadian edition of Appraising Personal Property: Principles and Methodology later in 2010. As some of you know, the appraisal landscape in Canada is different to that in the United States – and it will diverge even more in 2011 when Canada adopts International Valuation Standards (IVS). We plan to use the book’s excellent framework to deal with the unique aspects of Canada’s law and regulatory structure, thereby providing Canadian personal property appraisers with a nationally relevant reference tool. If you are a Canadian appraiser -- or do valuation work in Canada -- look for this new edition in the not-too-distant future.

Appraising Personal Property: Principles and Methodology, 3rd Edition by David J. Maloney, Jr., AOA, CM. ISBN 978-0-9794738-5-2. Published by Appraisers Press, Frederick, MD. 530 pages.

The book can be obtained through www.AppraisalCourseAssociates.com

ASA Course Offerings

2010-01-11T13:55:00.003-05:00

Sharon Rollins, ASA the personal property chair at the American Society of Appraisers has sent me the upcoming ASA course offerings. Please note the special one hour webinar being held on February 12, 2010. Additional information is listed at the bottom of the post. For additional information on the classes, contact ASA on the personal property pages at http://www.appraisers.org/PPHome/PPHome.aspx, or call 703-478-2228 or 800-272-8258.

The class schedule is as follows:

January 2010

22-23 Oriental Rug Appraisal* RISD
February 2010

5-6 Native American Art: Identification RISD
& Appraisal*

12 Folk Art Webinar by Susan Golashovsky, ASA Your Office!
12-15 PP/GJ POV 203 RISD
25-28 PP/GJ POV 203 NWU

March 2010

4-7 PP/GJ POV 203 Pratt
4-7 PP/GJ POV 201 UCI
8-9 Inspecting and Describing Fine Art UCI
8-9 Strategies for Handling and Managing
Difficult Appraisals* Pratt

11-14 PP/GJ POV 204 RISD
15-16 USPAP for PP RISD

April 2010

9-10 The Bauhaus* RISD
15-18 PP/GJ POV 204 NWU
19-20 USPAP for PP NWU
29-(May) 2 Intro to Appraising Antiques and Dec Arts RISD

May 2010

13-16 PP/GJ POV 202 UCI
17-18 Turning Gold and Silver into Green UCI
21 Resources for Appraisers (Beacon Hill, Boston) *RISD
20-23 PP/GJ POV204 Pratt
24-25 USPAP for PP Pratt
24-25 The Logic of the Argument* Pratt

June 2010

3-6 Appraising Fine Art* RISD
4-5 USPAP for PP UCI
16-17 Business of Contemporary Art* Pratt

ASA PRESENTS ...

Antique Folk Art and the Modern Interpretations WEBINAR

Whether you’re a generalist, fine arts or decorative art appraiser, don’t miss this affordable opportunity to increase your knowledge while also obtaining the education credits needed for reaccreditation. Learn first-hand from an expert with more than 20 years of experience in the field of antiques and folk art.

Susan Golashovsky, ASA, is an accredited specialist in American Folk Art, Antique Furniture and General/Residential Contents. She has interviewed artisans and examined their work to determine:

• How they interpret antiques
• What they do to make them appear “aged”
• The values of antiques versus new interpretations

This one-hour webinar, offered for the first time, will allow you to:

• Learn just how closely some artisans interpret antique objects
• See examples of antiques against revival and more recent examples
• Gain an understanding of the interpreter’s work through interviews with artisans currently making these objects
• And more

Date: Feb. 12, 2010
Time: 2 p.m. EST (one-hour duration)

Register NOW.

(NOW will link to this: http://www.appraisers.org/Education/ViewClass.aspx?ClassID=2362

IRS Definitions of "Qualified Appraiser" and "Qualified Appraisal" Continue to Evolve

2010-01-11T07:16:00.005-05:00

From initial Act to final regulations: important appraisal-related issues continue to be refined

A taxpayer is generally permitted a deduction for noncash charitable contributions subject to certain limitations depending on the type of taxpayer, the nature of the property contributed, and the type of donee organization. When the deduction is permitted, taxpayers are required to obtain a qualified appraisal from a qualified appraiser for donated property for which a deduction of more than $5,000 is claimed.

Since tax deductions reduce the amount of tax collected by the federal government, Congress has tightened the rules governing appraisals in recent years in quest of discouraging valuation abuse, i.e., overstating the value of the contributed property. To accomplish this, relevant statutes were introduced embedded within the American Jobs Creation Act of 2004 (Jobs Act) and the Pension Protection Act of 2006 (PPA).

As of this writing, proposed Treasury regulations adopted in 2008 clear up many of the lingering issues, but they have yet to be finalized. Go here for a comprehensive review and current status of the regulations that will be defining the terms "qualified appraiser" and "qualified appraisal" for donation appraisals.

Antiques Roadshow: Behind the Scenes

2010-01-08T11:55:00.001-05:00

An American TV Classic

This is an English hit transformed into an American passion. If Antiques Roadshow has done only one thing, and they have done many, one thing is that this TV show has changed the way that American Citizens look at antiques and collectibles. Before"Roadshow" people often thought nothings of removing a finish, cutting down legs, replacing parts of, in fact, just simply throwing it away.

Today, however, because of this show and the appraiser's who have been given icon status, people often pause to consider what an appraiser would say or do on "Roadshow' and this is a very good thing. I have to say that at first I was biased when it came to this book and the cult TV classic, thinking that the appraisals were pie in the sky estimates done more for showmanship as opposed to actual field work. All of that was laid aside when I turned the last page.

This book really gives a true behind the scenes look at how this show operates. You'll get a look at how the executive producer Marsha Bemko and her staff have worked to adapt the British TV show for the American market. You'll meet the appraisers and learn early childhood influences as to why they choose this career. The set-up requirements, security and lay-out of auditoriums are explained in a way that makes it easy to understand why "Roadshow" doesn't come to every town. Of course, you'll get information from all the past years' highlights of interesting objects and you'll receive follow-ups as to what happened to several items after the cameras shut off. You'll understand and appreciate the articles pertaining to the "watermelon sword" and the Poe image. One of many interesting topics was learning how objects are selected for the camera. One chapter that I loved was "Missing Masterpieces;" it focused on what various appraisers longed to have walk onto the set of "Roadshow."

I have to say that as an appraiser, the one chapter that excited me was the chapter titled "The Final Reality." This chapter gave easy step-by-step hints and information for people looking for appraisals. Though there was no mention of The Uniform Standards of Professional Appraisal Practice (USPAP), I thought that the information provided in this chapter was very useful and factual.

All in all, I found that this book was very enjoyable and informative and should be included on your book shelf. It is softbound, with 181 numbered pages, full color illustrations and loads of information. It had a MSRP of $16.99 and is available online and at your local booksellers.

Modern Chinese Furniture Website

2009-12-17T12:52:00.001-05:00

By Daphne Lange Rosenzweig, Ph.D, ISA CAPP

There have been several very interesting blogsite articles on European/American furniture styles. In a future note, I will discuss a variety of websites useful for appraisals of Chinese furniture but I wanted to note here very briefly a website sales venue that has several sections which could be invaluable aids for “comps” when appraising modern Chinese furniture. The current information posted (announcing a 50% off sale period) on this site may disappear at any time, so printing it out as a resource is recommended.

You can get to it via several routes: http://www.easterncurio.com, or http://www.chineart.com or http://www.antiquesbeijing.com. The main website is the Eastern Curio one and there are “sub-sites” posted there. All are from factories located on mainland China.

In the D1 series section (Antiques Beijing), there are many modern reproduction furniture forms of the “home decoration” type we so often encounter – the armoires, the bedside chests, etc.; the D2 Series has oriental hardware (the brass fittings for wood and lacquer furniture). The D3 Series has mother-of-pearl screens and other furniture, and then D7 illustrates other types of inlaid screens and the large gilded screens and wall art of the type we all see in appraisals. The sites give dimensions and selling price, and generic descriptions of materials. Caution should be taken with the descriptions of the materials, since the Chinese definitions and the definitions accepted in the West often differ.

Daphne Lange Rosenzweig, Ph.D, ISA CAPP

Membership Offer from Palm Beach Appraisers Association

2009-12-12T14:16:00.001-05:00

The following is an offer of 6 month free membership with our friends at PBAA. The free membership and listing offer expires on December 31, 2009, so make sure you get your application completed and submitted.

Palm Beach Appraisers Association is much more than an appraiser referral site. PBAA strives to bring the quality and prestige of Palm Beach to independent appraisers, consultants, estate liquidators, auctioneers, and dealers worldwide.

The mission of PBAA is to connect private collectors, appraisers, and dealers to parties that will best suit their needs. We understand that convenience, along with high standards, is of great importance. PBAA has members throughout the world, specializing in fine antiques, jewelry, currency, fine automotive industries, luxury estates, luxury accommodations and more.

Follow the links at the end of the PBAA press release.

The PBAA states.

Palm Beach Appraisers Association announcement to all that fit the categories. Quality Auctions, Automotive Industries, Galleries, Jewelers, Dealer Appraisers, Independent Appraisers, Luxury Accommodations, Restoration Experts, Direct link to you, holiday gift, from PBAA "FREE NO COST LISTING" worldwide language translation 6 months, fill in our join page and submit. Quality website necessary and must qualify and be approved. Expires 12/31/09
under no contract to renew.

PBAA provides a service with links to many fine companies around the world, partner pages, supporters, affiliates, members, the companies PBAA will list must be known in the industries providing the consumers as well as the trade.

Palm Beach Appraisers Association must provide website links that will have high standards in providing the services offered.
As you can see on their home page sponsor links as well as affiliates also hold the PBAA link as well as some of the members. knowing all posted can be trusted and will handle clients with the highest degree of care, this is all they ask from their members.

The extensive background of PBAA members offer myriad opportunities for the public to receive precise and accurate appraisals of their most valuable possessions. PBAA members will work with you with the highest level of confidence and capabilities.

PBAA offers you committed professionals in the industry with superior knowledge of high-end property claims. They have full-time specialists, staff experts and a comprehensive network of consultants with extensive credentials and years of experience in fine arts, antiques, coins/currency, jewelry and precious stones, collectibles, interior decoration, oriental rugs, couture clothing, wine collections, fine automobiles and high end real estate.

The extensive background of PBAA members offer myriad opportunities for the public to receive precise and accurate appraisals of their most valuable possessions. PBAA members will work with you with the highest level of confidence and capabilities.

PBAA is proud to provide stature in the appraisal community. PBAA contributes significantly to the growth of our sponsors and quality members by directing consumers to members with exact specifications. Consumers also have the confidence of working with a Palm Beach Appraisers Association certified member. The potential for Palm Beach Appraisers Association is outstanding.

Chris Hayes Pbaa CEO says, they are honored to have such a fine group of friends with us at Palm Beach Appraisers Association, our entire staff would like to thank you for all of your support and the thousands of hits to our website each day, please have the greatest enjoyment ever in this holiday season. Galleries, auctions, appraisers join us now, post PBAA in your favorites for future information. New sister website coming soon posted on our affiliate page..
--
Palm Beach Appraisers Association
http://www.palmbeachappraisersassociation.org/
Click HERE for free 6 month membership

New Issue of eNewsletter for Personal Property Appraisers Contains Hard-hitting USPAP Articles and More

2009-12-04T07:06:00.002-05:00

The free "ACA Appraiser's Update" e-newsletter is published by Appraisal Course Associates partners certified appraiser, author and instructor Dave Maloney and AQB-certified National USPAP course instructor Bill Novotny.

The current December, 2009 edition contains:

IRS Definitions of "Qualified Appraiser" and "Qualified Appraisal" Continue to Evolve
USPAP Changes for 2010-2011
Report Credibility Requires USPAP Compliance
All-new 3rd Edition of Unique How-to Book for the Personal Property Appraiser
USPAP Q & A - Due Process of Law
Form 8283 Source of Identity Theft?

If you did not receive a copy, you are welcome to check it out at http://bit.ly/ACA10.

While there, be sure to sign up for future ACA Appraiser Update e-newsletters.

Hot off the newswire: (Dec. 4, 2009) The House voted yesterday to permanently extend a 45 percent inheritance tax on estates larger than $3.5 million, canceling a one-year repeal of the tax set to begin next month. http://bit.ly/6XpiBO

Go Green, Save $$$$, and Provide Great Service

2009-12-02T15:58:00.008-05:00

It is possible to be more environmentally responsible, save money, and provide a high level of service to your clients by providing secure online access for your clients to the appraisal reports.

Meet Gene Ruelle, an accredited senior appraiser in the ASA with his specialty in antique furniture. Gene is from Tyler Texas with over 15 years experience appraising personal property. Gene has created a secure online web site where his valued clients can securely access their appraisal reports for up to five years. The result is saving of money by eliminating the paper, postage, ink and toner from the report creation and delivery process.

How does this work?
Gene now saves every report as a PDF file. This PDF file is a complete report including the cover documentation, electronic signature, and all disclaimers and USPAP information. Once created, Gene uploads the appraisal report files to his secure online document storage system. Clients are then notified via email that the report is available and are sent a link and their login information to access the report online.

Clients click the link and enter their login information to access the secure site. Once logged-in, the client is presented with a list of their appraisal reports, and other documents created specifically for them. The client can then click on a link and display, download, or print the appraisal reports.

Benefits
• Save money on toner, ink, paper, and postage
• The report is available for the client 24 x 7 x 365 with no intervention from the appraiser
• Report is stored on a secure website not a PC making the USPAP record keeping requirements much easier to adhere to
• Report is delivered to the client much faster than postal or courier
• Clients come to the branded site to access the report and they see your name and branding each time

Feedback from selected attorney clients is fantastic. They love the instant access to the information and ability to access the reports from anywhere with an internet connection.

See a Sample of how this Works
Here you can see a sample report and what the client experiences when using this unique service. Feel free to log in and check it out.
(Note: the reports on this site are sample reports only)

Visit http://secure.ruelle.com
Login – appraiser
Password – doyourbest

Feedback
Please comment and let me know what you think about this method of report delivery. Is this something you think is valuable, or not to your appraising practice?

Resources in this Blog
Gene Reulle
Ruelle’s
http://www.ruelle.com/
gene@ruelle.com

About the Author
Brian Hiatt
bhiatt@collectorpro.com
www.collectorpro.com

ISA Conference Sponsorship Guide

2009-12-01T16:49:00.000-05:00

The International Society of Appraisers would like to invite you to participate as a sponsor of our annual conference, Assets 2010, taking place April 30 – May 3, 2010 in Toronto, Ontario.

A variety of sponsorship options are available, from advertising in the final program, to sponsorship packages inclusive of multiple benefits and advertising opportunities. For full details on sponsorship packages available to you, download our Sponsorship Guide.

ISA is a not-for-profit organization whose members are some of the most respected independent appraisers, consultants, estate liquidators, auctioneers, gallery owners, and dealers in the United States and Canada. Join ISA in Toronto this spring to reach your audience.

For more information regarding sponsorship and advertising, please contact ISA Headquarters.

phone: 312.981.6778
email: isa@isa-appraisers.org

Response from Monuments Men Foundation Founder

2009-11-18T10:44:00.003-05:00

The following comment was posted in regard to Appraisers Post contributor Jerry Sampson's post on looted property. I found it important enough to move from the comments section on a post page to the main blog posting area.

Click HERE to read the original post. The comment comes from Robert Edsel, founder of the Monuments Men Foundation.

My name is Robert M. Edsel, founder of the Monuments Men Foundation for the Preservation of Art (www.monumentsmenfoundation.org), 2007 recipient of the National Humanities Medal. I am also the author of The Monuments Men: Allied Heroes, Nazi Thieves, and the Greatest Treasure Hunt in History.

Mr. Jerry Sampson has written a very thoughtful inquiry about the challenges faced by professional appraisers in dealing with items that may have been stolen during World War II or possibly "liberated" by Western Allied troops. The Monuments Men Foundation, a 501 (c)(3) organization, receives inquiries almost every day from heirs of soldiers and others who have a concern about an item in their possession. A key part of the Mission Statement of the Foundation is to advise people and help illuminate the path home for any items that do not belong to the person possessing it.

Various guidelines exist to assist museums and others about works of art. Simply put, owners should know where their items were during the years 1933-1946, oftentimes referred to as the "gap" period. Items "liberated" by troops are a particular area of concern, especially when they involve any item considered cultural property. Generally speaking, this would exclude knives, guns, swastikas, etc.

Hundreds of thousands of works of art, library books, documents, and other cultural treasures remain missing from World War II. Our organization remains ready to assist all people of good will in determining the correct provenance of items affected by the war and in so doing, helping complete the mission of these great heroes of civilization---the Monuments Men and women.

We would be pleased to assist Mr. Sampson or any members of your organization. I encourage your members to visit our website and learn more about our work.

Robert M. Edsel
President
Monuments Men Foundation

Watch Video on 2010-2011 USPAP Changes

2009-11-12T11:30:00.006-05:00

My partner, AQB-Certified National USPAP Course instructor Bill Novotny, and I are pleased to provide you with a free, 22-minute narrated video overview of the changes recently incorporated into the new 2010-2011 edition of USPAP by the Appraisal Standards Board. The new USPAP is effective January 1, 2010 through December 31, 2011. To view the video go here.

Some changes are minor, but some will have a significant impact on your practice, such as the new requirement to disclose any service you've provided regarding the subject property over the past three years. Did you sell it? Appraise it? Restore it? Own it? If so, you have some new reporting requirements with which to comply.

As authors and appraiser educators, Bill and I focus on USPAP compliance. And our work as expert witnesses has made us acutely aware of the importance of performing and reporting appraisals that are USPAP compliant.

Make sure you have a current copy of USPAP and that you stay abreast of USPAP changes. Don't have a copy of USPAP? Purchase a copy from The Appraisal Foundation by clicking here.

Questions? Feel free to contact us:
info@appraisalcourseassociates.com
http://www.appraisalcourseassociates.com/

A question of looted property:

2009-11-10T21:58:00.002-05:00

I'm in the middle of reading The Monuments Men by Robert M. Edsel. This is a non-fiction work about a group of men and women enacted by various governments to preserve cultural art works during WWII. This question came to my mind. What role if any, does the professional appraiser play in regards to potentially looted or stolen property? What if in doing a house inspection, for any number of reasons, you find a great work of cultural art in an unsuspecting family's collection? WWII has been over for 60 plus years now. These items could have easily passed onto several other family members hands by now. Families who had no idea that this object could have been pillaged by or just bought on the street by "grandpa" decades ago. Objects that might even be listed in previous appraisals or estate settlements. What right do we have, if any, to report these findings and to whom would we report? I've searched USPAP and inquired with other seasoned appraisers only to get vague answers. Of course, I understand the articles of due diligence, our ethics and our code of conduct but unless information is requested by the government we're strictly confidential. What if our client is aware of it's history and provenance? And they thought that enough time had passed that no one remembered or cared. When should we know to cross a line and involve other authorities and how does this affect our relationship with our clients. I think that there are a lot of interesting questions here. Any answers??
Jerry Sampson

Update: Mold Remediation Assignment

2009-11-09T17:22:00.000-05:00

On September 23rd I posted a request for help here on the Appraisers Post and the AW Blog from a fellow appraiser who was seeking advice on an assignment where an uninhabited house full of valuable property, from antiques to books, required valuation and mold remediation (click HERE to read the original post). The advice and comments sent in return were excellent, and the appraiser was most appreciative of the responses. He send me the following update and asked if I would pass it along. His name and location remain confidential in order to protect the various parties involved.

I did make contact with the executor a few weeks ago just inquire as to the situation of the estate settlement and the mold issues. The mold was a powdery Gray-greenish mold and could be cleaned with some effort though it was thick. I was told that the gentleman, who was the previous owner, through a power of attorney maintained a high standard of insurance. The insurance company's adjuster, the executor, the lawyers and the local health department all met together for some time. It was discovered that the elderly gentleman maintained a very good inventory with all the invoices for what he paid for items and other important papers intact. The latest additions were dated to the years 2003 - 2004 periods (so it was still kind of current). The insurance adjuster then scheduled for a hazardous materials clean up company to clean the house. Three large tents were put up to house the cleaning of the personal property. There was a crew of about 40 people who undertook this task. Which was then inspected by the health department and other officials. Drywall had to be replaced in this case and the studs and flooring were bleached,washed and/or painted. I have no idea how well things cleaned up. It sounds like it was a simple wipe, sweep and wash kind of job.

The executor and the lawyers contacted various benefactors and alerted them to the situation that in lieu of their share of actual property they would receive a monetary compensation instead. They were offered a waiver to sign that if they wanted to attempt to purchase items for sentimental reasons that they could do so and would after wards receive them free of charge up to the value listed in the old inventories. (I think that this is kind of strange.) Those items like rugs, household linens, upholstered furnishings or other porous items that could not be cleaned were "bought" by the insurance adjustor's company (based again on the old inventories) and the executor settled, with increases for inflation and other variables, for an undisclosed amount. The library was on the far end of the house and was not affected to the degree that the rest of the house was. All art work and books were successfully cleaned. There is an auction scheduled for sometime this early December for general household and antique items. The art work and very high end pieces have since been sent out of state to a regional auction house. All in all this was very complicated and I'm glad that I was kept out of the loop.

Bankruptcy appears to seal Toronto auction house's fate

2009-10-27T13:54:00.005-04:00

By Stephen P. Sweeting, ASA, MRICS

Although it might be a little early to administer last rites, the October 26 bankruptcy of Ritchies Auctioneers in Toronto appears to be the end of the 42 year old firm. I’m not going to go into the contentious reasons behind the insolvency; readers can check the following link in The Globe and Mail for a blow-by-blow account of the firm’s disastrous last few months: Auction house Ritchies forced into bankruptcy. Some of you may recall that I touched on Ritchies’ failure in an August 2009 post exploring how structural changes in the business landscape might affect local fine art and antiques markets. (See: Think Global and Think Local) Ritchies' business troubles first manifested themselves to the wider public when Sotheby’s Canada ended a multi-year auction services agreement with the firm due to the non-payment of consignors.

Ritchies was a quirky regional firm that tended to cater to the lower and mid-level art and antiques market in the Greater Toronto area. But every now and then the small firm scored some real successes that pushed them onto the national and even the international stage. The sale of a remarkable Francois Boucher pastel drawing for a record-breaking half a million dollars was one such foray onto the international stage. And their most recent association with Sotheby’s catapulted the firm into Canada’s top-tier fine art auction market. It was in the Ritchies salesroom that Sotheby’s sold Paul Kane’s Scene In The Northwest- Portrait for CAD $5.1 million including buyer’s premium in 2002. This record price for a Canadian painting sold at auction still stands today.

The failure of a regional auction house is not particularly newsworthy in the grander scheme of the international fine art and antiques marketplace. As most of us know, smaller auction houses both come and go. But as a former cataloger at D. & J. Ritchie Fine Art Auctioneers & Appraisers – the original incarnation of the firm before it was bought by the current owner – I have to admit a little sadness over the troubles and the insolvency. I cut my teeth in the appraisal of personal property at Ritchies and would be remiss in not marking the firm’s passing in this forum.

Appraising Judaica: Following New Trends in Judaica Auctions

2009-10-23T17:26:00.004-04:00

Appraising Judaica: Following new trends in Judaica Auctions
Posted by Elizabeth Kessin Berman, A.A. A.N.A.

Here's my first posting on issues in appraising Judaica.

It used to be that I would wait patiently for the Judaica auction season and then, after studying the limited objects put up at auction, I would settle down to study the catalogs and the results through the winter and spring. But this year, Judaica auctions continued into the winter and well into the spring. Some auction houses have even started organizing Judaica auctions every other month.

The auction floor has also expanded. Not all of the important Judaica pieces are going to the large auction houses in major world capitals. Smaller auctions houses are attracting Judaica collectors and Judaica collectors are more willing to divert their attention from New York. There are now other stages.

At Skinner Auctioneers in Boston, auctioneers were very pleased with the results of their Judaica sale held in late May. Their website that reports: “Skinner's May 2009 auction of Fine Judaica was a tremendous success, more than tripling the pre-sale estimate and grossing over $1.2 million for just over 200 lots of antique and artisan Judaica. The top lot in the sale was rare and important silver and silver gilt Synagogue Ark-form Hanukkah Lamp, originating in Brody (Galicia), and dated 1787. Auctioned for an astounding $314,000, against a pre-sale estimate of $60,000-80,000.” At Kaminski’s Auctions, located in a suburb of Boston, several Judaica items often appear in each of their monthly auctions.

Just last year a new auction house was launched in Jerusalem: Kedem Auctions is producing stunning catalogs with well written well researched titles. The catalogues are written in both Hebrew and English and they contain a wealth of information for collectors, historians and appraisers alike. Kedem auctioneers are not only up on their research, they are also very ambitious. They are holding auctions every 2 or 3 months. Kedem is also pushing the envelop and offering items that are not your well-known ritual Judaica objects. They are identifying new areas of Judaica collecting. More on this in my next blog.

I’ve also been following several on-line auctions such as Ben Ami Endres and a few others operating as Ebay stores. Additionally, a few auction houses who are principally known for their offerings of Modern/Contemporary Israeli artists are also attaching Judaica objects to their sales. Tiroche in suburban Tel Aviv has several sales of Judaica and these are often included with European decorative arts. Hammersite in Ramat Gan, Israel, also has Judaica lots included in some of their auctions.

(Click Read More below for the rest of the Article)

Despite the competition, New York still remains a focal point for studying Judaica auctions. The Fall is still the prime season. Kestenbaum and Company as ever continues to produce very fine catalogues and sales, concentrating mostly on rare books and manuscripts. Frequently, fine Judaica is tucked in at the end of their auctions. At Kestenbaum’s September 10th auction, the report was somewhat optimistic, as reported on their website: “Fine Judaica yielded very respectable results considering the sluggish state of the economy. Of the 321 lots offered, 90% sold, thereby affirming that Judaica remains a very active market of committed collectors. Nonetheless, clients were somewhat conservative with their bidding practices, thus reflecting differing prices relative to previous auctions.” Their next sale will be December 10th, being the 4th of 2009. At J. Greenstein and Company, also in New York, their last sale was in June 2009. But the next will be January 11, 2010 with about 150 lots. For the past few years, Jonathan Greenstein has been holding spring and fall sales. This year Sotheby’s Fine Judaica Sale is early this year – on November 24, in the morning.

What does this have to do with the appraiser? Well, when appraising Judaica, I’ve had to get acquainted with the new venues and learn the different trends. Finding value in Judaica is now not a simple matter of finding comps at season intervals. One also has to talk directly with those involved in the market place, view the offerings each month and study the results. Beyond that a lot of serious collectors are actual traveling to important sales and discussing amongst themselves the characteristics and strengths of certain objects. At Skinner’s May preview in Boston, for instance, there was a lively discussion among many collectors who came from all parts of the world and the bidding was serious on the following day with record sales.

And so, a “comp” in 2009 might very well be trumped for one just a few months later. In writing Judaica appraisals, I’ve got more on the table to consider than I have had in previous years.

Next blog: there are many new areas of Judaica collecting. I’ll report in on what I am seeing in private collections and objects that are new to Judaica auctions.

Elizabeth,

Visit my site at
www.judaicaincontext.com

Broad Evidence Rule

2009-10-23T14:30:00.007-04:00

Posted by Todd W. Sigety, ISA CAPP

Last year for the Appraiser Workshops Blog I found a well written and informative article on litigating insurance claims. Although much was not applicable to the personal property appraiser, within the article was a very good interpretation of the Broad Evidence Rule. The Broad Evidence Rule (BER) in effect states that "every fact and circumstance which would logically tend to the formation of a correct estimate of the loss" may be considered by the courts. It is of course up to qualified appraisers to place a value or multiple values on property based upon the facts and multitude of circumstances.

The Broad Evidence Rule is defined on Forbes' site Investopedia as "A rule outlining the guidelines insurers must go about determining the value of lost, stolen or damaged property. The broad evidence rule does not specify any one method to value any one piece of property, only that the means which most accurately displays the true cash value of the property will be used." Forbes clarifies the definition with "The broad evidence rule is used by insurance companies to determine the cash value to be paid out to the insured in the event of a claim. As opposed to using the traditional cash value (replacement cost minus depreciation), the broad evidence rule can take into account such factors as the age of the property, its tax value and any possible profits the item may have accrued".

David Maloney in his popular appraisal reference book Appraising Personal Property: Principles and Methodology (page 112) expands on the BER interpretation with "The Broad Evidence Rule (a.k.a., The McAnarncy Rule) states that there are no fixed or rigid guidelines for the determination of the amount of recovery in case of loss. The two standards normally used (fair market value or replacement cost (new) less deprecation) are merely guides, and are not the sole determination of actual cash value. The rule allows for consideration of all the facts and circumstances (such as degree of obsolescence at time of loss, property has no market value-in-use, profitability, owner's opinion of value) which logically tend to develop a correct estimation of value of the destroyed or damaged property for the purpose of ascertaining the actual cash value at the time of loss or damage".

Because of the wide spread acceptance of the BER by the judicial system, much is left open to interpretations by the court. The BER has been viewed as both a positive and a negative in settling insurance claims. In any event, appraisers working on insurance claims should be aware of and familiar with the BER and how it is applied. The following excerpt on the BER is an excellent starting point. It is a good addition to what is typically found in personal property appraisal theory and methodology texts as it is written by attorneys.

(Click Read More for the rest of the article)

From an article By Jay Barry Harris, Esquire and Barbara E. Brigham, Esquire FINEMAN & BACH, P.C.

LITIGATING ACTUAL CASH VALUE ISSUES FROM AN INSURER'S PERSPECTIVE

Under the broad evidence rule, in a determination of actual cash value by the trier of fact, "every fact and circumstance which would logically tend to the formation of a correct estimate of the loss" is to be taken into consideration. The New York Court of Appeals in McAnarney held that the trier of fact could consider: original cost and cost of reproduction;

the opinions upon value given by qualified witnesses; the declarations against interest which may have been made by the assured; the gainful uses to which the buildings might have been put; as well as any other fact reasonably tending to throw light upon the subject.

The broad evidence rule has been praised as furthering public policy by indemnifying the insured through a more equitable distribution of insurance proceeds than results from other approaches. The reason for this is that an insured is able to present evidence showing the inadequacy of the market value or replacement cost less depreciation approaches due to special circumstances.

However, there are criticisms of the broad evidence rule as well. It is not a definite formula, as is the repair cost less depreciation approach, and lacks certainty or predictability. For example, when the insurance is acquired, no figure as to the value of the property is available. However, except under unusual circumstances, the insurer can closely estimate the "value" of the property through the replacement cost less depreciation formula to determine an insured's needs.

Another criticism of the broad evidence rule is that the consideration of an indefinite number of facts concerning the property leads to speculation, conjecture and a clouding of the issue of actual loss. This criticism has been met with the argument that any evidence which may potentially come into play under the broad evidence rule will be admitted only if relevant and if it is not too speculative. Such evidence is evaluated for admissibility just as any other evidence is evaluated prior to being admitted.

Further criticism of the rule is that insurers may take advantage of collateral issues to escape liability. For example, suppose an insured has paid for $100,000.00 worth of insurance. The argument presented is that the insurer should not be allowed to escape payment of the full amount by showing, for instance, that the insured could not sell the building located in a deteriorated neighborhood for more than $50,000.00. However, the full value of the policy is a limit on the insured's recovery, not the amount of recovery. In addition, indemnity is the purpose of insurance and insured's are to recover the value of the loss they incur, not on the loss to the property. Although:

[i]t may be true that insurers are ostensibly receiving a windfall if they are allowed to pay less than the full amount of the policy. . . . because a "moral hazard" is created by allowing the insured to recover in excess of his loss, allowing the insurer to pay less than the full amount seems to be the lesser of two evils.

Despite these criticisms, the trend is toward using the broad evidence rule. One court summarized the advantages of using the broad evidence rule as follows:

"To put the matter in other words, the courts, when faced with a choice between applying some standardized rigid rule such as replacement cost minus physical depreciation or of adopting some more flexible test which can be modified in such a way as to accord more nearly with the principle of indemnity, have generally preferred the latter alternative even though it has involved the sacrifice of administrative convenience and simplicity."

19th Century An Age of Revivals 1800-1901

2009-10-22T16:28:00.012-04:00

by David J LeBeau MFA AM(ASA)USPAP(06)©2008

The Newark Museum in Newark, New Jersey presented an exhibition entitled "Century of Revivals, Nineteenth-Century American Furniture from the Collection of The Newark Museum" (September 26, 1982 - July 5, 1983). The curator of that glorious exhibition was Mr. Ulysses G. Dietz. In his commentary printed in The Newark Museum Quarterly (Pg. 7, Vol. 31, Nos. 2-3-Spring/Summer 1980), Mr. Dietz states that, " ... By the beginning of the nineteenth century, however, a more literal approach to borrowing from the antique was taken, and the Empire or Regency styles of the early 1800s constituted the first of the new revival styles:” He goes on to say. " ... Revival styles in American furniture shared a common basis: All were in some way romantic evocations of past eras literalized in wood and fabric."

Indisputably, the most visible and influential figure of the latter half of the 19th century was Queen Victoria. Alexandrina Victoria was born May 24th, 1819, and upon the death of her uncle William IV in 1837 she ascended the throne of the United Kingdom of Great Britain and Ireland. Subsequently, she acquired the title of Empress of India in 1876 and she died on January 22th, 1901. Her reign lasted sixty three years and seven months, longer than that of any other British monarch to date. The English decorative Arts period centered on her reign is known as the Victorian Period (1837-1901).

It has been the custom, in the professional upscale auction houses of England and the continent, to use the names of monarchs to denote the place and period of origin of an artifact. This was a rather simple and effective method when the objects being discussed behaved themselves and fit neatly into historically recognizable design cubbyholes. However, designs were adopted and adapted from those in use during the reigns of European monarchs, to use in far flung places by many cultures that did not owe allegiance to the thrones of Europe. A piece of furniture that owes its design genesis to an ébéniste or to an author of a book of furniture design published in London must be identified by its own chronological, geographic and stylistic origin. Thus, a dining table constructed in London in the late 19th century would be dated and identified as English by the phrase: "A Victorian Dining Table". However, due to the extraordinarily long reign and the swift adoption of new styles during the period, it is necessary to amend the phrase with the style name of the piece in question, i.e., "A Victorian, Rococo Revival, Dining Table". Furthermore, if evidence exists that conclusively indicates the precise year of manufacture, the phrase should be further amended as follows: "A Victorian, Rococo Revival, Dining Table, 1859". The appellation "Victorian" refers only to the period between 1837 and 1901 and only to the people and places governed by Her Majesty Queen Victoria. Queen Victoria never ruled the United States or any part thereof. Therefore, if it was made anywhere in the United States it is not “Victorian”. The use of one of the revival terms is the correct nomenclature. Thus a piece of Rococo Revival furniture manufactured in the mid 19th century in the city of New York is just that, a New York City piece in the Rococo Revival taste. It is in no way justifiably labeled as “Victorian.” However, a comparable piece made between 1837 and 1901 in the UK, or anywhere else in the British Empire, in fact, is “Victorian.”

(Click Read More below for the rest of the article)

The 19th century is also the height of The Industrial Revolution which began in Britain in the late 18th century and spread rapidly to the rest of Europe and to the United States. Many important improvements in power production and use influenced the sciences and directly; agriculture, manufacturing, industrial production, and transportation. All of the above had a profound effect on the socioeconomic and cultural conditions of Western civilization as evidenced by the accumulation of vast wealth by the moguls of banking and industry, the emergence of the middle class and the growth of industrial cities.

The introduction of steam power and the invention and use of electrical devices allowed subsequent advances in metallurgy, transportation, civil and industrial engineering. Which in turn, lead to the production of more inventions and new manufacturing techniques in all fields of endeavor.

Agricultural methods and yields were improved by mechanization and the introduction of chemical fertilizers. Steam powered tractors were employed in plowing fields. An early example of which was the double tractor system which employed a tractor placed on a side of a field with another on the opposite side. Rigged between them and joined by cables powered by winches on the tractors was a rig composed of several plow blades. This rig was pulled across the field and then moved to the adjacent section and then pulled back to the first tractor. This system could till a field of twenty acres in the time it took a horse and plow to till one acre. Thus increasing the yield and eliminating the need for the horse and the need to grow and harvest fodder and consequently reduced the number of men needed to work the farm. Which in turn created a flow of the populace from farms to the cities due to the mechanization of farming which caused the unemployment of many farmworkers.

The growth of the factories crammed with machinery and the resultant noise, dust and smoke created unhealthy working conditions and the low rate of pay to the workers and the slum conditions in which they were housed had a profound effect upon society by the degradation of the working class and the emergence of the middle class and the enrichment of the factory owners. The environment also suffered degradation from the effluent of the engines of progress and in the destruction of forests, prairies, waterways and wildlife by the mining, lumbering industries and the construction and operation of railroads required by the growing needs of cities and factories.

Furniture designers began to employ some of the new materials and manufacturing techniques such as; newly discovered tropical hardwoods, cast iron, the production and use of formed plywood, exotic animal products and the factory assembly line. Chemical based pigments and finishes were invented and produced due to the mechanization and improvements in coal mining and the advancements in chemistry. The importation of these commodities was facilitated by the use of transoceanic steam ships, and of steam locomotives and earth moving machines. These inventions and the introduction of new explosives by Dupont enabled the construction of the Suez and Panama canals which were opened in 1869 and 1914 respectively and the canals facilitated the expansion of international trade and naval power. Political expansion west of the Mississippi river in the United States and further colonization of foreign lands by the European powers were also made possible by the advancements in firearms design and manufacture by Colt, Gatling, Krupp, Remington, Sharps, Smith & Wesson and Winchester and others inspired, in part, by the military subjugation of India, the American Civil War, and the subjugation of the indigenous tribes in Africa and the American West.

Further influence on design may be traced, in part, to the decision to force the Japanese government to cease the policy of isolation (Sakoku) that began in 1635. Some Russian encroachments from the north had led the shogunate to extend its direct rule to Hokkaidō, Sakhalin and the Kuriles islands in 1807 but the policy of the exclusion of foreigners continued. It was determined in Washington, DC that it would be beneficial for American interests to have the Japanese began “normal” diplomatic and trade relations with the United States. To that end, Commodore Matthew Perry of the U.S. Navy was ordered to sail his squadron of four warships, Mississippi, Plymouth, Saratoga, and Susquehanna, to Japan. The squadron arrived in Edo Bay, later renamed Tokyo, on July 8, 1853, whereupon the Commodore held a burial service for a deceased seaman which concluded with an naval artillery salute. Shortly thereafter, the Commodore disembarked with an armed contingent of officers and men to meet with Japanese officials. Upon his return the following year with seven ships, Perry formalized the Convention of Kanagawa on March 31, 1854 by requesting that the Shogun sign the "Treaty of Peace and Amity," establishing diplomatic relations between Japan and the United States. The Harris Treaty was signed with the United States on July 29, 1858 opening Japan to trade and other visitation. Within five years Japan had signed similar treaties with other Western countries.

The 19th century is also the first period in which many decorative art styles appear and are employed simultaneously. Revivals styles, not necessarily accurate reproductions, but the Baroque, Rococo and Neoclassic styles with modification of proportions and size as well as new forms required by new uses for furniture were made necessary by the costumes of the 19th century and the increase in the average size of people due to better diet introduced by the scientific and medical communities which provided advancements in pharmaceutical and medical research and by more efficient agricultural production. These modifications in furniture design and construction were made possible by technical advancements in manufacturing techniques and the improvements in metallurgy and tool design. All of these “improvements” and “advancements” were quickly embraced by furniture designers, craftsmen and the buying public. Some of the notably different and specific uses and forms were provide by men such as Belter, Singer, Thonet and Wooton and the communities of the Shakers.

Consequentially a social and artistic revolt resulted to combat what was perceived as the evils of industrialization. New forms of artistic expression were influenced by social reformers such as John Ruskin and William Morris, both of whom are credited with the introduction of the Arts & Crafts Movement. Latter designers of interiors like Charles Rennie Mackintosh, Louis Comfort Tiffany, the Stickleys and others as well as the architects Louis Sullivan and Frank Lloyd Wright followed with socially conscious and innovative designs and methods of construction. Their inspiration often came from a distaste of the damages done to the environment, from the natural world and from the poetical ideals of the literature of the time. The “World Expositions”, we call them World's Fairs, and their displays of art and artifacts from exotic cultures provided further inspiration for the artists of the time. Two examples of foreign influence are Japanese wood block prints [ukiyo-e, (横絵)], and Islamic architecture both of which inspired Art Nouveau and the Impressionists. The first World Exposition was held in Paris in 1844, followed by The Crystal Palace of 1851 in London. Subsequently others followed in Paris in 1889, The World's Columbian Exposition in Chicago 1893, another in Paris in 1900 and in St. Louis in 1904, in San Francisco in 1915 and notably the Exposition Internationale des Arts Décoratifs et Industriels Modernes, known as The Paris Exposition of 1925. The latter, codified a style that was already gaining popularity in Europe, it was based upon artistic principles of design that employed simple lines and embraced the use of modern materials, it took its name “Art Deco” from a contraction of the title of the 1925 Paris Exposition.

Value…or was that Value?

2009-10-19T15:56:00.002-04:00

Value…or was that Value?
Tom Helms
Value? Hmmmm… Everyone has some sort of “definition” about value: the appraiser, the state, the federal government, writers of books, virtually everyone and every agency. Only the hardcore purist thinks he or she knows the answer and then there is doubt from everyone else about the purist’s position! It is a confusing world for the layman and at times for the appraiser. But most important: Clients need to know value levels to understand the full impact of “what it is worth?” We must take a stand!

Attached is a short article we use to help explain …….right or wrong, it has worked for us.

The Dilemma of Values
The most common question we are asked as appraisers is “what’s it worth?” A logical question; however, to the appraiser there are different values for the same object, and the answer varies for each value. Confusing?

Most people think that their “Antiques Road Show” item is worth what they hear when the appraiser says, “the insurance or projected auction estimates value for your object is so much”. Wow! I am rich you think….for the moment that is…… until the owner learns the definition of the value given!

Insurance replacement value is the estimated cost that it would take to replace the object with an identical object, or if this isn’t possible, an object with similar qualities and usefulness in a reasonable amount of time. It includes not only the cost to purchase the object, but also the costs associated with finding and obtaining the item at fair market value along with the possible help of an expert, and the necessary costs of packing and shipping, This is the highest value of an item and generally does not represent what the owner could get in cash.

An “auction value estimate” is what the estimator or auction house appraiser thinks the item might bring at a well advertised national or international specialized auction. An average is given. In many cases if the average is not met, the item is not sold and the estimate was not its value for that auction.

Then there is the most common heard phrase: “fair market value”. This is the term associated with the IRS, taxable estates and, at times, estate settlement. The items are not actually sold, but a value is determined by a sale within a general market place. For example, a master artist’s work would not glean the highest value in a local market, but would realize its actual value on the international market. This would be its fair market value.

Click Read More for the rest of the article.

Market value is what most people want. It is the most probable amount of money a buyer would pay for the item in a specific market. It is essentially the price for which the object would be sold in a shop or show; it is the secondary retail market value. (The key word is “sold”.) The value can differ from geographic locations. For example, vintage rocking chairs have very little value in our area; however, if that same rocker was valued in the mid west or southern market place, its value would be more. This is what the item is worth in a shop, but most likely NOT what you will get if you sold it. That takes us to another value!

As we appraise estates and work with the heirs or chat with callers or respond to daily inquiries, the same question seems to thread its way through all conversations: “what can I get for this? And not, what is it worth?” In other words, “I have to sell”. We now need to look at marketable cash value which can be known as “orderly liquidation value” and/or “forced liquidation value”.

If you sell at an estate sale and/or an auction, it is considered an orderly liquidation when a number of perspective buyers have access to the items; therefore, the value can range from just under secondary market to 50% or less than market value. The lowest value is forced liquidation. This is when the seller forced to sell and only one or two people have the opportunity to purchase the item(s).

And, of course, there is “scrap value”. At times there is significant value in an object from the standpoint of it parts or materials. Gold and silver are being sold for “scrap value”. Parts of equipment, recycled items, and “clunkers” all have a value.

Still confused? If you are bogged in the quagmire of values and drowning in stuff then you might not only need our appraisal services, but our consulting arm of the business. We can help guide you to the right value and the right market to get the most for your treasure. The moral: don’t dismiss the offer until you understand which value is being used.

Aesop's Mirror Review

2009-10-15T14:58:00.010-04:00

BOOK REVIEW- AESOP’S MIRROR by Maryalice Huggins

Once again the veil has been lifted and the public can peek behind the curtain of the antiques world to view its inner workings in the new book Maryalice Huggins Aesop’s Mirror. From a barn in rural Rhode Island to The Winter Antiques Show, Huggins tells the tale of a large mirror and an Empire sofa as they work their way up the antiques food chain. As a New York City antique restorer with a heavy hitter client list, the story goes deeper. This very personal story that will be a must read for personal property appraisers. It will validate both the highs and lows of our investigations.

In many ways, the book is the ultimate fantasy appraisal, the one we all would like to do if not bounded by time, money and energy. Due diligence directs us to consult experts when evaluating an object and the marketplace. Huggins, an insider, is able to show the mirror, unsure if is it American or English, to a staggering array of big names in the antiques field; John Hays, Luke Beckerdike, The Kenos, Alan Miller, Albert Sack, etc. Equally staggering is the wide variety of opinions and values gathered, many of which were spongy “maybes” and “perhaps” . No one gets by unscathed. This alone is worth the price of the book. She further reveals the little know “blessers” who carry enormous power over the object’s worthiness in the marketplace. These Blessers are often exalted restorers, not scholars who have learned how to wield their power and command fees for the combined result of both gut instinct and experience. As such, they are much aligned, especially by antique dealers who can watch their deals sour at their altars. New collectors and the uninitiated revere their every word and marvel at their staged quirkiness. The truly frightening part is that these many opinions are not written down or attached to the back of the object, so as appraisers when evaluating an object are faced with this shadow history. What if one of the blessers’ has ruled that your appraisal piece is less than it purports and the invisible opinion affects the value, unbeknownst to the appraiser? As we know it happens all the time.

Huggins hooks her audience with discovering the objects in a Rhode Island estate and purchasing it later at a Gustave White auction. In describing the svengali charm of auctioneer Mike Corcoran, she nails him. In capturing his circus ringleader mastery, I was fearful in sharing our beloved local talent with a larger audience. She also captures the rough neck male dealers, as base gamblers, addicted to the “action” of the trade more than honoring the object or building great collections. In the end, it is the auctioneer, Mike Corcoran, with his charm and integrity maintained by hovering just slightly outside of the trade that is the true hero of the book.

(Click on Read More for the rest of the review)
Besides laying out the hierarchical ladder of the antiques trade, the author spotlights the many polarized camps. Territorial conflicts are entrenched greater than the Republicans and Democrats; Restorers versus conservators; scholars versus dealers, auctioneers versus appraisers and then any combination therein. She takes on sacred topics which are rarely challenged such as the need for conservators to X-ray furniture when their construction is well known. With a level hand across the entire antiques trade, Huggins bravely shows us that the emperor has no clothes.

Huggins continues the fantasy appraisal when she dives undaunted head first into years of primary document research into the famous Brown family of Providence, looking to establish the mirror’s provenance. Already warned that the archives had already thoroughly picked over, she produces undiscovered vignettes of family members with their own archives. What appraiser wouldn’t like the thrill of document research and family interviews trying to establish ownership and craftsman source? But in the real world appraisers are not compensated nor get to work for such a well prominent, well documented family. While this section of the book provides the narrative and characters to rival the Bronte sisters, it is perhaps the weakest part. Extrapolated from the material is historical novelization that will make the book enjoyable for the public, but will chafe most scholars. Spoiler alert; In the end, her years of toiling yield only suggestions and possibilities and not a solid provenance.

Huggins covers fresh ground in describing the antiques trade through the vantage of the restorer. Never before has the mysterious high end workshop been fully depicted. As a restorer myself, this was rich and insightful. She is brutally honest in dispelling the romanticised idea that the public has about the alchemy and recreation of a restoration workshop. Instead Huggins shows, restoration as the manic endeavor it can be. One gray area of the book is the exact extent of the restoration which she did to the mirror and how this may have affected the mirror’s journey through the marketplace.

This will be a delightful journey for appraisers from the usual conventional formatted exhibition catalogs and scholarly research tomes. Unlike Lucien Freund’s Object of Desire, now nearly 20 years old, this object road trip is written by an insider rather than someone outside the trade. The moral of this story may be that even those inside the profession, with many high level connections still can’t get a straight answer nor an easy sale. When our (Mary) Alice falls through the looking glass, she buys it, restores it and then tries to sell it, and is right at home with the white rabbit and mad hatter and Queen of Hearts found in the Antiques world.

Jennifer Lacker, J. London Appraisals

Breakthrough Appraisal Seminar Celebrates 15th Birthday with a Free Virtual Tele-seminar Party

2009-10-15T08:29:00.002-04:00

You’re invited to a virtual appraisal birthday party!

Happy Birthday to Brian Kathenes and Leon Castner’s Award-winning, Landmark, Appraisal Educational Seminar. "USPAP - A Personal Property Perspective" is celebrating its 15th birthday.

And all personal property appraisers are invited to the birthday bash celebration.

It’s a free, “USPAP - A Personal Property Perspective” update, live, tele-seminar party with a Birthday Gift for everyone who attends.

“No, we’re not giving away new cars,” says NAC’s Managing Partner Brian Kathenes, “But we know all our appraiser guests will really like their special gift. It’s a party no appraiser should miss.”

The tele-seminar and virtual birthday party will be held on Wednesday, October 21st.
Appraisers can register to claim their free 'seat' at: www.USPAPBirthday.com

“We needed a way of celebrating National Appraisal Consultants’ 15 years of training and coaching personal property appraisers,” says NAC’s Senior Partner Leon Castner.

“We’re hoping to fill up all the phone lines and give our fellow appraisers powerful information that will help them get more high-paying appraisal business along with the latest USPAP updates.”

USPAP – A Personal Property Perspective was a live, on-site seminar designed, developed, and presented by National Appraisal Consultants exclusively for personal property appraisers. It was first presented 15 years ago by Brian Kathenes and Leon Castner, years before most personal property appraisal societies embraced the USPAP standard.

It ran for two years across the US. More than 250 appraisers completed the program and received professional development points and a special NAC certification.

All appraisers are invited to attend the tele-seminar celebration for free (they just pay for their normal long distance charges) but they must register at: www.USPAPBirthday.com

Pioneer of Modern Design: Christopher Dresser (1834-1904)

2009-10-08T21:11:00.024-04:00

It is difficult to establish the birth of modernism. Most often ‘modern’ is associated with twentieth century design. We tend to think of early examples by designers such as Charles Rennie Mackintosh, Josef Hoffman and Gerrit Rietveld in the years prior to the First World War. In reality, the seeds were planted as early as the mid 1800s with particular designers such as Christopher Dresser and Owen Jones, creating works which sharply stood out from the trends of the day.

Modernism wasn’t a single readily identifiable style, but rather a set of ideas threading together a variety of styles and movements from various countries. Overall, it rejected decoration in favor of abstraction. It streamlined form and pared it down to the essence. But more importantly, it believed in the power and potential of the machine. Designers worked with industrial advancements to help change the world.

Design reform also combined two revolutions of the nineteenth century: industrial and romantic. Design reformers believed the laws of beauty were rooted in nature and a unitary world. Most designers believed that their designs had the power to transform society. That reform could create a sense of social utopianism. Proponents sought to bring forth better materials and aesthetic quality of life for the majority through better design.

Toast Rack. Christie's, London: July 8, 2009. Estimate: £600 - £900; Realized: £2,250

(Click the Read More Link for the rest of the article)

Tea Pot. Christie's: London: December 12, 2007. Estimate: £500 - £1,000; Realized: £3,750

Christopher Dresser (1834-1904) can be considered the father of modern design. Like William Morris, he believed that beautiful design should be available to everyone; however, unlike Morris, he thought that mass production was the best way to achieve that. Dresser’s designs looked forward and not to the past as Morris’ did.

Sotheby’s London: May 4, 2006. Estimate: £20,000 - £30,000; Realized: £42,000

Christopher Dresser was Europe’s first modern industrial designer. In fact, Dresser argued the merely imitative or naturalistic and realistic portrayal was the lowest form of art -- the highest was conventionalized forms found in nature delineated and stripped down to the purest form. He believed in an aesthetic that would dominate art, architecture and design in the first half of the twentieth century: the notion that the highest art was the visual representation of an idea that could not be seen.

"Propeller" Vases (for William Ault). Sotheby's, London: March 20, 2008. Estimate: £3,000 - £4,000; Realized Price: £3,750

During WWII, an entirely new design language emerged -- one which dominated postwar design and changed the original intentions of European artists, architects and designers. Many of these fled during the war to practice in America. The dream of a utopian design changed. Design for all was now a choice for the consumer. Product over the function became the reigning principle.

Then a new generation of individual designers separated themselves and created art furniture and one of kind pieces. They rejected mass production and modern materials. They fashioned a new type of expression, one that went against the dehumanizing result (they felt) of the machine. Instead, they celebrated the natural qualities of wood and metal but in novel ways -- marrying new ideologies with traditional materials to create new forms. These limited production designs were highly sought after in their days by tastemakers and movie stars. And they have enjoyed a resurgence in popularity in the past decade.

Watering Can. 1876. Collection of the Moma

Christopher Dresser led the way to modernism. A pioneering reformer, designer and theorist, he was an innovator. Prolific and proficient, he influenced all who came after him by forging a unique and unprecedented body of work.

The Artfact Difference! A Special Offer

2009-10-05T12:47:00.005-04:00

An Artfact representative contacted me at the Appraisers Post and asked if I would promote their special offer to appraisers. As it is a money saving offer, I thought I would post and remind appraisers of the discount Artfact offers.

See below for a special offer to ISA/ASA/AAA/NAA members.

Why waste your valuable time searching hundreds of old auction house catalogs and websites for auction price results, when you can find everything you need all in one easy-to-use service?

Artfact is the world's largest and most comprehensive online auction price guide, delivering over 53 million price results for fine art, decorative art, antiques and collectibles all sold at auction. Representing over 2,000 auction houses, including Christie's and Sotheby's, Artfact's advanced search provides unabridged auction catalog entries, including provenance, notes, estimated and realized prices, and millions of full color, high quality images.

At Artfact, you can also quickly access over 500,000+ artist profiles, including artist biographies, price results and upcoming art at auction.

Artfact has been providing appraisers and collectors with a single source to research, price and find items for over 20 years.

"Artfact's Auction Results Database is extremely easy to use. Appraisers and Museum Staff are impressed by the number of complete catalog entries and full color images available."
Mary Leonard, Dallas Museum of Art

"I rely on Artfact to provide up to date auction price results for readers of "The Smart Collector" (Tribune Media Services). As a results database, Artfact has a little something for everyone and their selection of US and International auctions is a definite advantage. Artfact is a great example for smart collectors on how spending a few dollars to check a price database can pay"
Danielle Arnet, "The Smart Collector"

ISA/ASA/NAA/AAA Members Special Offer!

Artfact is offering a $500 discount off the price of a 12-month Professional subscription. A $1,995 value for only $1,495!

Visit us at www.artfact.com and find out why hundreds of appraisers and collectors have been using our service for years.

Contact Jamie Poulin at 617.746.9890 or support@artfact.com and start or upgrade your subscription today!

JUST HOW RARE IS RARE?

2009-10-04T16:11:00.010-04:00

While researching an unusual chair a client had purchased in London years ago (and told at a Roadshow filming, if attributed it could be worth in the mid five figures), I struck up a email "pen pal-ship" with a knowledgeable English dealer/scholar, Paul Shutler. Paul specializes in high end furniture and decorative arts, primarily 19th and 20th century UK. With his permission, I'm reprinting below an excellent, succinct explanation of "rarity," a recent entry on his new blog. Good reminder of the meaning of the word and ranking furniture and decorative arts as we appraise value.

JUST HOW RARE IS RARE

Often my clients come to me for advice when considering purchasing an item from another dealer or at auction. In some cases, they are interested in objects described by the seller as 'rare' or 'extremely rare and highly important.'

So, I decided to include my repeated response in the blog:

Ask the seller why they think the object is rare. In most cases I can explain instantly why something may or may not be rare. Certainly if I was describing something as rare, I would make sure I could do this.

It's worth remembering that if something is rare, it may be simply because the maker decided not to continue making an object because it just wasn't very pleasing, meaning not all rare objects are good objects.

Something might be considered rare because a fixed number of them are known to have been made, but how high can this number go? It is a known fact that Gerald Summers made only 120 one-piece chairs of circa 1933-4. Does this make them rare? It could be considered important given that it's a great example of a chair successfully made using only a single sheet of plywood, no fixings or joints, an industrial designer's dream. (Image from the Vitra Design Museum's book, 100 Masterpieces from the Vitra Museum Collection.)

Questions also need to be asked when dealing with the description important. Being rare doesn't automatically make something important. For a work of art or an antique to be described as important, shouldn't it mean it hah a part to play or was responsible for something of note? A useful example would be Arthur Heygate Mackmurdo's famous mahogany side chairs circa 1882. (One example is in the collections of The Virginia Museum of Fine Arts as well as the V and A museum.) They are universally considered to be important because their sinuous Art Nouveau design pre-dates the Art Nouveau period by a decade.

(To Read the Rest of the article click the Read More Link below)

To be of use, the word important should be followed by the word because. Often these words are used to illustrate and highlight the object's significance but sadly they can also be used to embellish an otherwise ordinary (but perfectly genuine) object.

I have recently been fortunate enough to acquire an occasional table (see my current stock page) that I consider to be worthy of this seemingly disposable four letter word for these reasons:

Firstly, the table was designed by Owen Jones, a man known to only design furniture on a commission basis.

Secondly, this particular commission was for the copper mining magnate James Mason Esq. of Eynsham Hall, Oxfordshire. Helpfully the drawings for this commission survive; they clearly display all the furniture and decoration to be included in each room. Amongst the sets of chairs and tables in the drawing room there is just one occasional table. Meaning only one occasional table was ever made.

This is not merely rare but unique.

Paul Shutler
pashutler.org.uk

P.S. Paul's research fee is extremely reasonable with Paypal. And my client's chair was unfortunately not worth anywhere near what was surmised at the Roadshow. While it was perfectly genuine for the period and rarely seen, it was middle market of unknown origin designer-wise and not important as explained above.

Francine

Marketing Your Appraisal Services: Facts, Myths, and Archery (yes, archery) Part two:

2009-09-30T19:16:00.032-04:00

Busting The MythsWith all due respect to Discovery Channel celebrities Adam Savage and Jamie Hyneman, of Myth Busters fame, these appraisal myths must be busted before one can identify a strategic approach and establish the tactical elements of effective appraisal services promotion.

Busting -- "My appraisal designation, certification and qualifications will get me business."

Your appraisal designations, appraisal experience, and your appraisal qualifications will not get you more business. Your designations, expertise and qualifications are “features,” not benefits. Nobody cares about features. Nobody buys features. People buy benefits. They buy solutions. They buy answers to their problems, but they do buy features. Every designation, every letter after your name, and every area of specialty and expertise must be turned from a feature into a benefit.

In Successful Selling Strategies: Benefits vs. Features, publicity guru Paul Hartunian and I explain that when it comes to your appraisal qualifications – nobody cares. Prospects and clients will not care about any of your designations, until they understand the benefits of those designations.

(To Read the Rest of the article click the Read More Link below)

Your first step in the marketing process is to convert these features into benefits. Here are a few examples: The feature “Oriental Rug Specialist” can be presented as the benefit of less on-site time required to properly identify the rug, which means you are more efficient than the other appraisers who must take tons of pictures and spend loads of time researching and calling someone to help them. The additional benefit of an “Oriental rug specialist” is that you have probably done a similar rug before, so you have the data readily available, which saves the client money, plus you will be able to complete the appraisal sooner.

Another example of features vs. benefits relates to our appraisal report writing standards. An appraisal report that is written to the USPAP standard, or to your appraisal society’s report writing standard, is a feature. It is not a benefit. Again, the response by the public is: “Who cares.” The benefit of writing to the “standard,” is a defensible report that, if challenged, will hold up.

Here’s another feature to ponder: “Twenty-five years experience.” Who cares how many years you’ve been in business?! It is a feature. Convert it to a benefit.

The second part of busting this first myth relates to Ralph Waldo Emerson's famous quote: "Make a better mousetrap... (and) the world will make a beaten path to your door." Well, you can be certain that Emerson is dead wrong. The accurate quote is: "Unless the world knows you have a better mousetrap, and why it's better than all the others, no one will even care where your door is."

There is no doubt in the mind of other appraisal professionals (nor should there be in yours), that a professionally-trained appraiser is definitely the better mousetrap. Education sets trained and tested appraisers apart from every other appraiser in the world.

So, if you have the better mousetrap, and we all agree you do, then why isn't the world beating a path to your door? They are not lined up at your door, because your prospective clients have no idea that you have the better mousetrap, nor do they know why they should pick your mousetrap over the others. Even if you convert your “qualifications” from features to benefits, you must still let your prospects know who you are and how to find you. Promoting yourself, your firm, and your services is critical to your success.

To combat ‘Myth One’ you must convert all your features to benefits. You must then let your prospects know who you are, where to find you, and why they should select you over all the others.

Next post??? Busting -- "My professional appraisal organization is supposed to get me all the business I need."

This article first appeared in the 2008 Journal Of Advanced Appraisal Studies; Foundation for Appraisal Education, Editor: Todd Sigety http://www.foundationforappraisaleducation.org/

Get more great appraisal marketing tips at: http://www.bestappraiserpprofits.com/

Marketing Your Appraisal Services: Facts, Myths, and Archery (yes, archery) Part one:

2009-09-30T18:59:00.008-04:00

Effectively marketing your personal property appraisal services is the most critical skill of any successful appraisal practice.

It is not “one of the most critical factors” – it is THE most critical factor. Without an effective marketing strategy, and a proven marketing action plan, an appraiser is doomed to a practice that is far less successful than it could be.

Appraisal myths have prevented many very qualified appraisers from properly marketing their services. As a result, these appraisers deny themselves the benefits of a well-run, highly-profitable appraisal practice. Until an appraiser looks objectively at his or her business, there cannot be any positive change in the growth and quality of anyone’s own practice, or in the appraisal profession.

In order to create a profitable, dynamic appraisal practice, appraisers must be aware of the existing myths that surround this most exciting and lucrative business. These appraisal myths must be exposed for what they are -- a fabrication created by appraisers who are looking for an excuse to explain their lack of success. It is always easier to blame an external source for our shortcomings than it is to look internally and examine why we have failed (or not have been as successful as we had hoped).

Exposing the Myths

There are three primary myths that, once exposed, will either galvanize you into action, or cause you to stop reading this article and stick your head in the sand. You get to choose your fate and your future.

Myth number one: "My appraisal designation, certification and qualifications will get me business. This is the number one fallacy of the appraisal world. It is the belief that leads many people to take appraisal courses, continuing education programs, and specialty study classes."

Once completed, the appraiser has an expectation that there will be a “payoff” for all the hard work. I’ve heard it many times. They gripe about spending a ton of money and loads of hours on a course, then expect it to pay off immediately. This is not the case. The knowledge, qualifications, designations and certifications earned are the foundation upon which an appraiser can market their services. These qualifications may provide an appraiser with a competitive edge, but only if they are marketed properly. Successful completion of any appraisal course is not a guarantee of business success.

Myth number two: "My professional appraisal organization is supposed to get me all the business I need."

(To Read the Rest of the article click the Read More Link below)
Professional appraisal organizations do not exist to find clients for you. Their mission is far more important than that. There are many fine professional appraisal organizations that you may be associated with, but it has never been their job or mission to be your marketing department. Their focus is on the profession as whole, and its entire membership. You and your practice are not the center of the universe in the appraisal world.

The benefit of being a member of any professional society is in the quality of education, the ability to network with other trained and tested professions, the opportunity to learn by participating in the operation of the society, and the privilege of being associated with a group of professional, trained and tested personal property appraisers. Certainly, many appraisal societies do assist in the promotion of your appraisal services. Some progressive associations may provide marketing programs, seminars and special presentations to help appraisers improve their marketing skills. This however is not their primary function. To believe this myth is to ignore your responsibility to your business, to your clients and to your professional appraisal society.

Myth number three: "Appraisers write appraisal reports."

OK, this is true. But the whole myth is: Appraisers only write appraisal reports. Appraisal professionals learn how to write appraisal reports in classes. Appraisers learn how to write better reports at conferences and in special seminars. Unfortunately, many appraisers erroneously conclude that report writing is all that appraisers do. Nothing could be further from the truth.

Next post??? Busting the Myths

This article first appeared in the 2008 Journal Of Advanced Appraisal Studies; Foundation for Appraisal Education, Editor: Todd Sigety http://www.foundationforappraisaleducation.org/

Get more great appraisal marketing tips at: www.BestAppraiserProfits.com

Establishing Your Appraisal Library: The Truth About Price Guides

2009-09-28T11:43:00.010-04:00

The Truth About Prices Guides

Time to hit on a touchy subject. In regards to the serious appraiser and scholar in the use of general price guides, there is one simple thing to remember:

Budget your money accordingly.

A little clarification is needed first. Price guides can be broken down into two separate, but very distinct, categories.

1. General Price Guides (such as Schroeder's, Warman's, Antique Week, Antique Trader, Lyle and, of course, Kovels).

2. Vanity Price Guides (they are typically written by one or two authors who have an undying passion for a subject and usually only one subject or period will be featured in a book at a time. These are sometimes seen with the wording "with value guide" attached to the title).

Let’s explore Vanity Price Guides (VPG) first. Take for instance, the reference books on cut glass by noted author Bill Boggess. He is certainly a scholar and active in the market. His books are well researched with excellent photos, and have a listing of prices in the back for the featured pieces. As an appraiser or scholar you should know that you should not rely on any prices in any books. We'll explore the reasoning behind this mantra later. But VPG's are very, very useful and valuable to the researcher. Often they are loaded with tons of good if not great information and photos on subjects not always commonly found. These authors are consumed with their subjects. They are serious about prices, values and worth. This is just a natural part of that passion. They want to share what they know or perceive. You shouldn’t only rely on the "handy" value listings.

(To Read the Rest of the article click the Read More Link below)

General Price Guides (GPG) are next. The descriptions are scant, with few good photos, no market location or conditions behind the valuing, no bibliography or reference points, and the list could go on and on. Some dealers, collectors and, yes, even some good appraisers, will fight to the death defending them.

Here are some secrets about the listed values in GPGs and VPGs. That brand new price guide that you hold in your hands now in 2009 is in all likelihood anywhere from 2 - 3 years old! The information was gathered years ago in an effort to put together a book, in accordance with the publishing worlds rules. So what does that tell us?? The prices are NOT fresh and current. Not fresh and current from the BEGINNING. Second, just where did these prices originate? They are gathered from various sources across the country. They could be from an auction in Texas, a yard sale in Maine, an antique show in California, a flea mall in Illinois, or a fine antiques gallery in Kentucky. So what does that tell us?? We don't know the market context nor the conditions. Is it a retail price in Oregon or a Fair Market Value in Mississippi? This makes a big difference with your establishing a value for your client's collection.

So, in a nut shell:

GPGs are:

1. Typically not good quality

2. Values are not fresh

3. You don't know where the values originated

VPGs are:

1. Usually well researched and photographed
2. Are useful for appraisers, collectors, and dealers
3. You will discover more valuable information in these price guides than you will in GPGs
4. When "value guides" are included these prices also are out of date

But there is one exception, the works of Judith Miller. Miller's GPGs are based out of England and are lush with full color photos, high quality papers, detailed descriptions, helpful hints, information on where the values came from and what context and more good things. But even with Judith's books they are out of market context. Often, they are English-based designers or objects that collectors here in the states don't see often. They are in an entirely different market with the same time and date restrictions imposed by publishers just like here in the states. However all of these GPGs are slowly changing. With the Kovels taking a huge lead with some actually exciting new changes to the printed publications that they are famous for and expanding their online presence.

Should you own GPGs? Of course! Just pick up two-or three-year-old copies, at remainder or library sales. All in all, as a serious appraiser you should always consult with the VPGs and sometimes GPGs, but ONLY for the information, and simply disregard the listed values.

That is why attending or subscribing to regional and national auction house catalogs or online sales is so important.

Remember, fresh and current in a relevant market, there is no substitute.

SOCIAL NETWORKING TERMS

2009-09-28T10:00:00.003-04:00

I received this email in the early morning from The W Q Magazine Forum. I thought it might be helpful.

Social networking on the internet has spawned an entire jargon of terms and catch-phrases that are multiplying at a rapid rate. Here's a simple list of terms to keep you up-to-date and in the loop.

Social Networking Terms

blog — (n.) content written, uploaded and updated daily, weekly, monthly or occasionally by an individual author on a variety of topics, both personal and professional; (v.) blog: to write a blog; (n.) blogger: someone who blogs; (n.) blogosphere: a compendium of blogs throughout the internet; (n.) guest blogger: someone who blogs on someone else's blog.

bulletin board — (n.) a web page where visitors can post announcements and news. Bulletin boards are typically incorporated in on-line forums; (n.) BBS (Bulletin Board System)

embed — (v.) to copy html code onto a web page so that visual and textual content will be duplicated directly on the web page without the visitor having to navigate to the url where the content was first posted. By embedding content in emails, messages and other web pages, users can easily share and spread articles, videos and photographs across the internet.

Facebook — (n.) a social networking website where members can post and exchange personal and public notices, comments and content, including written material, photos, videos and music. Members can become friends of other members, allowing messaging among groups of friends. Members can join groups and promotional fan pages. Content is handily exchanged among friends through a "news feeds" which allows friends to see all the updates that other friends make.

(To Read the Rest of the article click the Read More Link below)

Feedburner — (n.) a media distribution service for bloggers and web feeds.

MySpace — (n.) a social networking website where members can post and exchange personal and public notices, comments and contents, including written material, photos, videos and music. Members can become friends of other members, allowing messaging among groups of friends.

podcast — (n.) related audio and/or video digital files that are created and released by episode, and syndicated throughout the web.

post — (n.) uploaded digital content; (v.) to post — to upload digital content.

RSS – (n.) acronym for "Really Simple Syndication" or "Rich Site Summary", RSS is a system for summarizing frequently updated web sites and streamlining the updated content into a simple log or feed that reads like a catalog.

SEO — (n.) acronym for Search Engine Optimization, SEO is the practice of trying to drive traffic to a website by enhancing tags, keywords and other content that search engines use to index content on the web.

social bookmarking — (n.) the practice of publicly bookmarking and sharing favorite websites with other web users by broadly describing and categorizing content so that other users can discover new websites. Popular social bookmarking sites: digg, delicious, Stumbleupon, twitter.

social networking — (n.) the practice of joining websites to interact with other people on-line, including friends, relatives, acquaintances, co-workers, business associates, clients, prospective clients, etc. Popular social networking sites: Facebook, MySpace, LinkedIn.

tag — (n.) descriptive adjectives, phrases and categories used to label and identify website content so that it can be properly sorted and indexed by search engines; (v.) to tag: the act of tagging and indexing or linking one item on the web to another.

viral — (adj.) to go "viral" is to have web content become massively popular and instantly shared by users on the web.

wall — (n.) another name for bulletin board; a web page on Facebook page where users can post announcements, notices, comments and other content; a place to blog.

Asian Art Websites II: Jades and other hardstones

2009-09-25T21:15:00.005-04:00

Jades and other hardstones.

Such a difficult field! So many websites, so much confusing information! Buyer beware, appraiser be warned! That's the field of Chinese jades.

Is the hardstone work you are appraising in fact fashioned from "jade" and what does that term mean in the West, as opposed to how it might be used in Chinese dealer showrooms, and in your client's mind? What is its age, and is any apparent aging naturally acquired or artificially induced? How much do color, provenance and condition affect the value? These and so many other factors have to be considered in valuing a Chinese jade or hardstone carving.

The list below is intended to help appraisers find website sources for "comps" for works they have been asked to value, whether the works appear to be important or routine (and of course that is up to the appraiser to determine, not the website!). Unfortunately, most of the sites do not give prices and the appraiser must contact the company to discover the selling price of what appears to be a good comparable. The sites also vary in terms of the quality of their offerings and accuracy of their descriptions. An infinite number of sites offer jade carvings and jewelry, and this list is not inclusive. It is simply intended to provide suggestions for various levels of "comps" to aid in due diligence when appraising a Chinese jade or hardstone.

www.keverne.co.uk an outstanding site for archaic and later jades and other hardstones, with excellent descriptions; well-known London-based dealer

www.knaptonandrasti.com a wide selection of Song through 18th century jades, with fine photos including reverse views when important

(To Read the Rest of the article click the Read More Link below)

www.bernsteinjadeart.com high-end San Francisco company, exhibiting jades of various periods, including some modern signed works and Westerners working with jade materials

www.antiquejades.com small pieces, in archaic and archaizing modes; there is also a chronology of jade carving

www.thejadedragon.net site divided into nephrite, jadeite and hardstones

www.masonkayshowroom.com well-known jadeite specialists, dealing in contemporary high-end jadeite jewelry; site with excellent color photographs and a very good FAQ section. Site divided into "trade only" and "general access"

www.jademine.com contemporary BC nephrite jewelry, carvings and rough

www.chinesejade.com contemporary jewelry, some carvings, sales prices given

www.jademarket.com contemporary jewelry, some statues, sales prices given

www.wonderfulstones.com jewelry, horses, many animals, in diverse hardstones; prices in Euros

www.maplem.com modern jade carving factory, with diverse stone carvings

www.artfiberglass.com you want contemporary carving on a grand scale? Those multi-masted sailing ships, those galloping horses? This is the site for you. When the home page comes on click onto "stone art sculpture carvings".

www.billegleston.com an excellent source for contemporary Chinese crafts from Hong Kong and the mainland (China). Sections on jade sculptures, pendants, archaizing jades, bowenite and other hardstone carvings. Prices given. Egleston also has a monthly color-illustrated flyer with the latest offerings: 12 issues, $15.00. Worth every penny!

Daphne Lange Rosenzweig, Ph.D, ISA CAPP
rosetwig@aol.com

Web Resources for Object Research

2009-09-25T13:29:00.004-04:00

Hi Appraisers,

In this article, I will discuss using web resources to assist in object identification and object valuation. The intent of this article is to provide a framework for what is available to assist when identifying and appraising objects.

An interesting aspect of the internet is that there is no requirement for the accuracy of information and verifying claims made. It reminds me of the wild west, where anyone can post and say anything they want with little or no validation of the accuracy of the information.

What does this mean? It means that there is a lot of information to be obtained and it is up to the appraiser to review and determine the validity of the information and how useful it may be to identifying and assigning valuations to objects.

Search Engines
The standard search engines, like Google, Yahoo, and Bing are useful to help with object identification. While there are many print resources available, search engines can provide additional insight into a maker, a particular artist, and even images of same or similar objects.

Searching the web may be a supplement to using trusted sources like auction results databases. For example, a search for a little known artist may reveal additional information that is available since the latest print information about that artist.

With the explosion of blogs that are updated frequently, there is a good possibility that additional information is available all the time about artists, makers, and objects.

(To Read the Rest of the article click the Read More Link below)

Realized Prices Databases
There are several databases of auction realized prices available on the internet. Most are available for a subscription fee, and others are free (as of the writing of this blog.)

www.realizedprices.com
This is a newcomer to the internet being launched within the last month. There is no subscription fee to access the information. It is described by the publisher as:

“Realizedprices.com is now available as an additional tool when looking for comparables for antiques and decorative arts. It has a comprehensive listing of all the major auction houses in the United States complete with links. This unique site offers a searchable database for sold and unsold lots. Also part of the site is a searchable antiques glossary with images. Designed and maintained by an accredited appraiser this site is a must see. Best of all it's FREE.”

Notes: This is not meant to be a complete list, but rather sites that were identified over the course of doing web searches. Please comment on this article if you know of other sources.

www.p4aantiquesreference.com
Prices for Antiques appears to have been around for several years and reports to draw data from about 50 leading regional auction houses and other selected specialist auctions.

I did not find the pricing for a subscription on the site. Please comment if you have any additional information

www.artnet.com
Artnet reports to be the place to buy, sell, and research fine art online. The site reports to get information from over 2200 galleries worldwide with more than 166,000 artworks and over 39,000 artists. Access to the prices is available via subscription with prices for the art database starting at $29.95 for 30 days that includes up to 10 searches per day.

www.christies.com
Christies has auction results on their web site. I was able to access individual recent auction results with great detail with no subscription. The site has very robust search and filtering capability to locate a specific artist, maker, title, or object description.

www.findartinfo.com
Findartinfo is a site that reports to have art prices to search for free for over 285,000 artists, over 2 million art prices and almost 1 million photos of artwork.

There are many more resources on the web for finding out additional information about objects, makers, and artists. I encourage all appraisers to fire up the search engine and just look around at what is out there.

Brian Hiatt
Collectorpro Software Inc.
www.collectorpro.com
information@collectorpro.com

20 TIPS ON WRITING

2009-09-24T06:00:00.002-04:00

I receive WQ magazine online each day and thought these tips written by Allison Whitehead were great reminders to make sure my writing stays on track. Hopefully these tips will be useful for those that write articles.

1 – Always study new and existing magazines for market information and ideas.

2 – Listen to other people – they can give you excellent ideas for articles.

3 – Read everything you can, as often as you can, and write regularly. Both will help you improve.

4 – Make sure all work is professionally laid out.

5 – Always spell check your work and double check you haven’t made any simple mistakes.

6 – Once you have written an article, put it away for a few days before sending it off. Re-read it first – any errors will stand out.

7 – Keep a notebook handy at all times, to jot ideas down in.

8 – Research everything you write thoroughly. Double check all your facts.

9 – Don’t emulate the styles of others. As you practice, your own unique style will develop all on its own. It is far more satisfying than copying someone else's style!

10 – Put as much effort into query letters as you do into your articles. These are the shop windows for what’s inside (i.e. the articles themselves).

(To Read the Rest of the article click the Read More Link below)

11 – If editors request changes, follow them to the letter.

12 – Always adhere to any writers’ guidelines a publication produces.

13 – Always study several issues of target magazines before attempting to write for them.

14 – Pay attention to any advice editors give you. These are like nuggets of pure gold! They will enable you to tailor future submissions more closely to their requirements.

15 – Structure articles before writing them – however roughly. It will prevent false starts and crossings out.

16 – Look in unlikely places to unearth new market information – magazines in waiting rooms, for example.

17 – Study the adverts in any magazines you wish to write for, as well as studying the content. They will provide clues to the readership and their likely interests and income bracket.

18 – Study article formats too. They will help you in planning out your own pieces.

19 – Keep articles and cuttings on subjects which interest you. It will save you time on research.

20– Try and become a specialist on one or two subjects. They will become easier to write about, easier to research, quicker to write, and you can develop a few steady markets as well.

Fellow Appraiser Seeks Assistance

2009-09-23T16:27:00.006-04:00

A fellow personal property appraiser and AW/Appraisers Post Blog reader has an interesting assignment and is seeking some advice from the personal property appraisal community. If you have any suggestions or comments regarding his assignment please post a comment on the site (click on comments at the top of the post), or if you prefer, you can send to me personally by clicking HERE..

Names are changed or omitted in order to remain confidential. Thanks for your assistance and advice.

I was approached about an appraisal assignment about a week ago. The executor contacted me about doing some estate settlement work. Simple enough. He and his wife were appointed many years ago to this position. The estate owner, we'll call "Mr. Greene", was their close friend, and had moved into a nursing home about six years ago with the last two years battling alzheimer's. "Mr. Greene" died two weeks ago at age 82.

"Mr. Greene" was quite well known in the auction and antique world. He was a serious collector in the fields of books, art and silver but surrounded himself with the best of everything. He was famous for his library which numbered in the low thousands and for his art work in which it is a known fact that he paid in excess of half a million dollars for one example. Very high end personal property.

"Mr. Greene" was survived only by an estranged cousin. Both his mother and father were the last lines of very wealthy families. He never married and had no children. The bulk of his size able estate was slated to go to charity with many pieces of personal property being willed to friends and to various dioceses' and offices, of his chosen faith, to be used as they wished.

About a week ago the executors entered his former home. To their shock they discovered that the entire home was covered with a thick layer of mold. To the degree that it permeated into drawers and cupboards. It was remarked that his clothing in the closets were so mold covered that it was hard to determine what color they were. No one had entered the home for at least six years. It is not known if this was caused from a ruptured pipe, the lack of ventilation or some chemical backlash, o if it is powdery or wet mold. So what do I do now?

Obviously this estate will have to be settled. An estate that will pass by far the $500,000.00 limits. The insurance which continued to be paid was with a high end company. They will have to be contacted quickly. Can things be cleaned and/or restored enough to be given to those in which it was willed to? How will the restoration effect the objects and the wishes of "Mr. Greene?" A important but sentimental piece to a friend valued at $300.00 with a possible $900.00 restoration tag hanging on it will have a lot of bearing on it. Even then will it be safe? Is this estate a total loss? Will the executors, who had keys all along, be asked to explain the negligence? To what level should I expose myself and my staff? Many facets to this problem. The executors just stepped back outside locked the door and alerted me. Please help!

A Disconnect

2009-09-23T12:38:00.012-04:00

By Todd W. Sigety, ISA CAPP

I debated on where to post this topic and related article. I thought perhaps first the Appraiser Workshops blog, but quickly decided I wanted to include more commentary rather than a brief review and link to the article. Because of that, the more appropriate forum was the Appraisers Post.

Last week the Washington Post ran a very good article on an area builder who dismantled a 1797 home (see image at left), moved it 150 miles and completely restored it as a second home. In doing so the owner spent over $700,000.00 on moving and restoring the 3,400 square foot home. The article discusses the owners connection to preserving old homes, and how old building techniques were used along with other methods to preserve the integrity of the home.

My issue is not necessarily with the article or the content in it, but with the images of the interior and what they reveal.

(To Read the Rest of the article click the Read More Link below)

The Washington Post Homes article states:

Glass says the distinctive design of the house could be re-created only by using the same materials and rebuilding the structure in the same way that it had originally been built. Before the house was dismantled and moved, he made detailed architectural drawings of every room. He took complete measurements of the interior and exterior. And he meticulously labeled every piece of lumber, every floorboard and every piece of wainscoting so they could be replaced in the same spot. Glass even replicated the late-18th-century construction methods by rebuilding the mortise-and-tenon framing, which holds the structure together using pegs instead of nails.

"This house has a lot of quirks," Glass says as he points to the chimneys and original attic window that are slightly off-center and the front hall stairs that were built in front of a window, blocking a portion of the top panes. "But I love stuff like that." He found the quirkiness and random imperfections so appealing, in fact, that he kept them all in place during the restoration.

Glass also kept all of the original woodwork, including the wainscoting, mantelpieces, doors, staircases and railings, doing nothing more than cleaning it mainly with water and trisodium phosphate to maintain the weathered paint and the warm patina it acquired from 200 years of age. "We buffed, oiled and waxed the floors, keeping the original marks and dents," he says.

All good so far, but you are probably wondering what is my point, and where and what is the disconnect. In my opinion the disconnect comes with the images of the interior decorations of the 1797 home. It is not filled with antiques, or folk art, or even new colonial revival furniture. No, the house looks like it has been furnished out of Pottery Barn. I would like to note I have no problem with Pottery Barn furniture, and no disrespect is intended. My issue and concern for the antique trade comes from the large divide between the love of the old house such as the buffed, oiled and waxed old floors and keeping the old woodwork to the lack of interest in appropriate period furnishings.

This is just my opinion, but I would have liked to have seen at least a few pieces of antique furniture in this old home. This is why the antique trade is floundering, and here is a very good example of a home owner with a love of old houses and the past, with an interior decorating scheme without any old decorations to complement the age and history of the building.

I understand a second home is supposed to be comfortable, but the interior decorations appear completely devoid of anything with age (although one image shows the top of something that might be a rustic antique). There are some oriental rugs, but all that rests upon them is new furniture with a more modern design aesthetic. What a perfect setting for some great folk art (a weather vane would look fantastic along with some quilts or textiles), or some great Shenandoah Valley antique furniture rich in history and local interest. It is available from both dealers and auction houses in the area.

The slowdown in traditional antique furniture has been debated for some time, and many feel as if the beginning of the current trend started years ago. Part of it has to do with changing lifestyles and a new informality in entertaining, as well as a desire to completely and quickly furnish a home, and not necessarily on building collections over the years.

The Washington Post article did not mention if an interior decorator was involved in the interior design and furnishing of the home, as the focus was the older house. But it really bothers me when there is such an appropriate destination for fine and traditional antiques, and find the interior decorating scheme devoid of anything with age. When there is such an opportunity and linkage to the past as a perfect setting for antiques, and then find them lacking, it is truly disconcerting. The lack of antiques in this setting is truly a missed opportunity and does show a disconnect. If antiques are not welcome in this home, with this owner, then where?

To read the Washington Post article and see additional images, click HERE.

2009-09-19T08:30:00.012-04:00

Appraisal Report Structure by David J. Maloney, Jr., AOA CM

There is no single approved format for all personal property appraisal reports, nor is there a required method of presenting information within the appraisal document. USPAP's STANDARD 8 states that USPAP does not "dictate the form, format or style of personal property appraisal reports, which are functions of the needs of the intended users and appraisers. The substantive content of a report determines its compliance [with USPAP]."

Appraisal reports typically contain a logical presentation of the required elements of information. Appraisers usually choose to prepare either a narrative letter-style appraisal report or a form-style appraisal report.

In a narrative letter-style report the appraisal has the look and feel of a formal letter on company letterhead complete with salutation, content, the USPAP certification statement, signature and enclosures.

In a form-style report the report is prepared in sections according to a pre-designed format, with each section appropriately titled and addressing the relevant elements of information it is designed to contain.

Regardless of which appraisal report form is used, in general terms, the appraisal report must contain three categories of information:

Appraisal-specific information
Item-specific information
Supporting documentation

(Take the Poll in the Right Column on the Type of Report You Prepare)

Read entire article

More on Social Networking

2009-09-05T13:03:00.029-04:00

By Todd W. Sigety, ISA CAPP

The National Association of Realtors recently released results from its 2009 technology survey. Many aspects of the survey don’t specifically transfer to professional personal property appraisers, but the one aspect that caught my eye was social networking. Brian Hiatt of Collector Pro software has posted on the Appraisers Post in the past on technology issues in general and on specific areas such as social networking. I would like to pass along some results from the Realtors survey on social networking. I do believe social networking can be useful and the Realtor survey results can also apply to professional personal property appraisers. (Click on the graphs for an expanded view, and on the back button to return to the post.)

The Realtor survey shows that many realtors network through social network sites such as Facebook and LinkedIn. The survey states that 47% of the respondents are either extremely comfortable or comfortable with social networking, while 27% are somewhat comfortable, 10% uncomfortable or extremely uncomfortable. The report revealed only 16% did not use or experiment with social networking programs. That means nearly 84% of the survey respondents have tried social networking. Also very telling, in the 2008 Realtor Technology survey 67% responded they did not use social media. In one years time, usage of social networking sites went from 33% surveyed to 84% having used or tried social networking. That is an amazing increase in usage growth over a single year. It is no cliche, today technology does move quickly. (To Read the Rest of the article click the Read More Link below)

The survey revealed that most respondents use either Facebook 78% and/or LinkedIn accounts (58%). Obviously, many realtors are using more than one social network. Facebook users appear to be the most active, but I also wonder if much of the activity is personal instead of business related. As far as benefits are concerned, the Realtor survey results show that 8% feel it is very effective, 17%, effective and 38% somewhat effective. There is still a fair amount of doubt, with 26% saying they are not sure of the benefits.

So, the results are mixed on the benefits, but we have to keep in mind that social networking is only in its infancy when being used as a business tool. Networks need to be built and grow before major benefits can be seen. The question was also presented to Realtors who they were trying to contact or network with. The respondents stated 76% were consumers, 53% other Realtors, 32% Realtor organizations, 22% real estate vendors, and 7% friends and family. I am a LinkedIn user, and my network is made of primarily of other appraisers, so contacting consumers or consumers of appraisal services is probably going to be very limited, at least until social networking and client prospecting show further advances.

A very significant portion also uses the networks to connect with other realtors. I would assume referrals, seeking assistance, and general discussions on business related topics fall within this category. Even if you discount the large group of realtors attempting to connect with consumers, a very large percentage use the networks for contact with fellow professional realtors. I am sure they find it beneficial, otherwise social networking would not be growing. As many appraisers are solo-professionals, networking with other fellow professionals is very much necessary to the successful appraisal practice.

Now perhaps the most significant area for survey results, how important is social networking in generating leads. 83% said it was important in generating referrals, 82% for repeat business, 53% for the internet.

The survey clearly shows Realtors are finding social networking useful, and like most new technology it takes time to grow, mature and to see evidence of benefits. There is a good LinkedIn appraisal group started just a few months ago by Brian Hiatt called Professional Personal Property Appraisers, click HERE to join. There are also ISA, AAA, ASA and other independent groups on LinkedIn. I have not looked on Facebook.

In summary, Realtors are finding that social networking is beneficial to their business. I would expect that many of the same factors can apply to professional personal property appraisers. Many appraisers are aware of the social networking sites, but are not sure how they will be beneficial or the amount of time necessary to build a successful and useful network. I think the Realtor report certainly reveals many benefits of the technology.

The key is to get involved, register, build a network, join groups, and perhaps more importantly participate, initiate discussions, make comments and promote your business and appraisal practice. That is what social networking is all about, networking and promoting who you are and what you do through the computer instead of a live mixer or networking event. Social networking sites are another tool that should be taken advantage of by professional personal property appraisers.

To view the full National Association of Realtors 2009 Technology Survey, click HERE.

Ten Deadly Marketing Mistakes Appraisers Make, and How To Avoid Them.

2009-09-04T11:58:00.007-04:00

There is nothing more important than a headline.

How about the one you just read? Did it stop you? It may be an advertising headline, an article headline, a news headline, or a website landing page. The headline will either capture the attention of your readers, or it will cause them to skip to the next story, article, webpage or brochure.

Here is a classic "formula headline:"

“Ten Deadly ________ Mistakes ______ Make, and How To Avoid Them”

You fill in the blanks with your target market and address their biggest concern.

For example:
-- Ten Deadly Wedding Ring Buying Mistakes Men Make, and How To Avoid Them.
-- Ten Deadly Antique Selling Mistakes Collectors Make, and How To Avoid Them.
-- Ten Deadly Insurance Mistakes Homeowners Make, and How To Avoid Them.

Here' another: “_______ Leave(s) ________ At Risk” Just fill in the blanks:

-- Hurricane Season Leaves Sailors’ Vessels At Risk
-- Skyrocketing Gold and Silver Prices Leave Homeowners At Risk
-- Lack of Appraisal Knowledge Leaves Senior Citizens At Risk

Focus on your target market and write the headlines that will get your target market, news
editor, or radio host to stop, read, and act.

I’ve just given you two great formula headlines and seven new headlines to start with, so fill in the blanks and stay at it.

Lastly, keeping in touch with your clients and prospects is critically important. You
must maintain regular contact six to twleve times per year in order to maintain your name recognition and ensure repeat business.

If you use e-mail to keep in touch with clients, be certain to use headlines.

Not sure how to keep in touch? There are loads of products out there.
The system we use in our appraisal practice is an amazingly simple and a cost-effective solution to the time-consuming process of developing and sending e-mails to your list.

Take a cheap test run of my favorite on-line contact manager and shopping cart at:
http://www.bestonlinecontact.com/

Appraisers' Marketing Tips -- web and e-mail

2009-09-04T11:37:00.005-04:00

Web & e-mail Marketing Tips for Appraisers

OgilvyOne, the direct marketing division of WPP Group conducted extensive research on internet e-mail marketing. One of the most interesting discoveries I noticed in the report was that when graphical icons were included in e-mails, click-through rates jumped 60% over standard links.

The research study also identified that only 35% of an e-mail actually gets read, and the report also noted that the word “free” has less impact than it did in the past.

One last point that should be of interest to appraisers is that messages targeted to small business that addressed “service” and “solutions” had far more impact than other subjects.

What does all this mean to an appraiser?

Icon click-through:
Well, if you use e-mails designed to drive people to your website, the use of an icon, instead of a standard text URL, should provide you with a much greater response. Standard text e-mail will not allow you to use an icon within the e-mail, but html formats will allow for images, illustrations and icons. If you are not sure how to set up an e-mail with an icon, it might be worth the investment in a web designer or internet specialist.

Only 35% of e-mail gets read:
Two thoughts here – if readers only read 35% of an e-mail, then write more (not really)-
Or – make every word of your e-mail message count. The copy in your e-mail must be carefully crafted to ensure that your message is read and the reader takes the action you wish. Use what professional reporters call the “upside down pyramid” technique – that means put the most important information up front to capture the attention of the reader and to keep them reading.
Services and Solutions The “services” and “solutions” concept is not new to appraisal services marketers. By now you know that in order to successfully market your appraisal services you must focus on the “benefits,” not the features.

Finally, the “subject” of every e-mail is critically important. It is, in essence, the headline of your e-mail message. If you are e-mailing your existing clients, then your name may get them to open your message. But a solid subject ‘headline’ is much more important than your name recognition. If you have both name recognition and a great headline, you’ll drastically improve your chances of having your message read.

Looking for more Appraiser-specific marketing ideas and tips?
Go to: http://www.bestappraiserprofits.com/

Brian Kathenes

Establishing Your Appraisal Library: Hard Back v/s Soft Back

2009-09-01T16:15:00.008-04:00

Which is correct to have in your library? Hard back or soft back books? Which one is right?

Well it really makes no difference. Remember, as appraisers or collectors or dealers, we should not be overly concerned with what backing it has but rather what the CONTENT is! Now some will argue that they have a superior library because its filled with fine, hard back, first editions. Again, you shouldn’t care. You should only care about what is inside between the covers. It’s the content that matters most. Now bear in mind that typically most books when they are published will sometimes (or not) come out first in a hard back edition with following editions being in soft back. This is for one simple reason.... cost. It’s cheaper to have a soft cover than it is a hard cover. Often when books are reprinted the publisher/author will take this opportunity to revise the printing. Sometimes this is done in regards to newly found information or a price guide listing update (these should always be taken at face value, as most are out of date even when newly listed) or any other number of factors. Make sure that you have the correct edition for your needs. You don't want to have old information when there is a newly revised edition with needed information just out on the market. Examine these newly re-printed books and evaluate whether you need this new edition or not.

Warning!!! Often publishers will only change a dust jacket or a book's pictorial covers to freshen it up. Sometimes they will even state REVISED on the front or inside. The only thing that has changed is the cover, the information is often the same. Be careful not to fall for this costly trap. (To Read the Rest of the article click the Read More Link below).

Where should you buy your books?

Where ever you can is a simple statement. On a regular basis hit garage sales, auctions, flea markets, used book stores, and, of course, the internet. You shouldn’t care where they come from, just that you get them. A collector or appraiser should gather no cachet from being able to say that they spent x number of dollars by shopping at an expensive retail store. Now some will argue that they have superior libraries because they only buy retail. There are some people out there who only want to buy their books brand new from big box retailers. If you have the money for that, well good for you! However, wouldn’t you rather buy the same book at a cheaper price and then be able to buy more books somewhere else later. Shop around-you'll find it elsewhere, guaranteed. Remember that many titles have been out of print for decades. So you'll have to buy second hand. The internet is a great source for getting the most value for your book budget. There are dozens of sites out there selling used books and some especially geared towards reference materials.

So will there be times that you’ll have to pay a lot of money for a first edition or rare title that you must have? Of course. Sometimes there is just no alternative than to pay a high price when its something you need. You could have several examples of books that you keep-a pretty / signed copy on the shelf with a mylar wrapper on the dust jacket, and, sitting right beside will be the copy that you’ll use on a regular basis, dog eared, highlighted, annotated and finger stained. If you're the type of appraiser or collector that makes notes in his or her reference books, don't feel as though you have to stop this habit. Just buy an inexpensive reading copy and highlight and make notations in that one. Don't ruin a book that in the future could be resold at a profit by covering it in pen or magic marker marks. Even if you can't find another copy that’s why we have copiers.

Oftentimes regional theme books will have a limited printing. These books rest mainly in a niche market relating to those who actively deal in such regional subjects. Pay attention to supply and demand. Many times, demand will far outweigh supply and the suggested retail price can greatly increase when that supply is depleted. It may prove beneficial to you if you include multiple copies of these regional books in your library. With luck, in the future you might be able to sell one of these stock-piled copies for a handsome profit. So keep that in mind when you’re purchasing books on a retail level.

Journal of Advanced Appraisal Studies, 2010 - Call for Articles

2009-08-27T13:12:00.001-04:00

The Journal of Advanced Appraisal Studies is quickly becoming the publication of choice for personal property appraisers. It is an annual journal written and edited specifically for personal property appraisers. It has been positively reviewed in Maine Antique Digest (click HERE to read the review) and endorsed by Wendell Garrett.

Original research articles, reviews , and discussions of professional appraisal issues and concerns from a variety of perspectives, theories, approaches, and methodologies are welcome. The next edition of The Journal of Advanced Appraisal studies will be published in March, 2010. Submission deadlines is fall of 2009. The articles must be original works, not previously published and a minimum of 3,000 words.

We are interested in articles covering the following personal property topics:

Research Reports
Opinion Pieces
Interviews
Book Reviews
Ethics
Valuation
Authentication
Appraisal Theory
Appraisal Methodology
Marketing
Product Knowledge
Legal Issues
Conservation

For additional information and submission proposals on this exciting project contact the editor, Todd W. Sigety, ISA CAPP at toddsig01@gmail.com or 703-836-1020.

Bienvenue a Montreal, October 2009 American Society of Appraisers Personal Property Conference

2009-08-26T17:15:00.007-04:00

By Edith Yeomans, ASA

Are you tired of your staycation? Are you itching for a change of venue?

Would you like to nourish your inner Frenchman? Your inner Frenchwoman?

Then….BIENVENUE a MONTREAL October 29-31, 2009.

On day one feast your eyes on the McCord Museum of Canadian History collection of over 28,000 decorative art objects that document the material lifestyle of Montrealers, Quebeckers and Canadians in centuries past.

Begin this culturally enriching day with the Director of Collections, Madame Nicole Vallerie who will take you back in time and place to 18th/19th century Montreal.

Then immerse yourself in four small group curator-led behind the scenes tours of Canada’s Inuit and Aboriginal Art, costumes, textiles, fine art, decorative antiques, silver, porcelain, glass and furniture. Cap it off with the William Notman Photography Collection of Montreal as it looked in the period.

Dine in Montreal’s number one cultural arts café and explore the McCord Museum book and gift shop, both considered premier spots for luncheon and gifts given in Montreal.

No need to fret if you didn’t see all 28,000 items. The McCord is a 10 minute walk from Loew’s Hotel Vogue and your conference badge allows you to return at leisure during the conference duration. (www.mccord-museum.qc.ca)

Tonight you step into history to dine in Old Montreal at Gibbys, located in the Youville Stables on what was once the south bank of the Saint Pierre River near the original Huron Indian settlement of Hochelaga. Parts of the building date from 1694, 1740 and 1850. (www.gibbys.com)

Using Technology to Keep in Touch

2009-08-24T17:45:00.011-04:00

One of the best ways I have found to keep in touch with prospects and clients is through regular communications. In this article I will discuss a couple of ways to keep track of your clients and keep in touch.

Keeping in touch with your prospects, professional peers, and clients is one of the best ways to obtain new clients, new business from existing clients, and new clients from referrals. Using an email list makes it easy to keep in touch. When considering using email for regular communications it is important to keep in mind these items:

Who is your target audience?
Remember that not just clients are targets for your emails. Contacts you have met at networking events, peer appraisers, attorneys, IRS employees, and prospective clients you have met.

It is all about content!
Nobody likes to get an email that is pushing a product or service. The content of your emails should be informative and show that you are an expert in your field. Consider providing information that your contacts may not have known if you had not sent the email. The idea is that over time, these reciepients will come to regard you as an expert in your field and when they need an appraiser, or someone they know, they will contact you. (To Read the Rest of the article click the Read More Link below)

Timing
Send bulk emails once a month at maximum. No one likes to be bombarded with emails every few days or even once a week from the same sender. Plus this makes the content more valuable.

Compliance
Sending SPAM is illegal and will turn off clients and prospective clients very quickly. Your contacts must be able to opt-out of your emails. Make sure they are removed as soon as you are notified.

How to Create and Send Emails
One method is to keep a distribution list of your contacts in Outlook. This is very easy to do. All you do is open Outlook and open your contacts list. Then click the New - Distribution list from the toolbar at the top. Add the contacts you wish and emails of others that are not in your contacts and click save. This distribution list will be saved in your contacts and you can send an email to it quickly and easily.

An alternate method is to use a service like Constant Contact. Constant Contact is very inexpensive, handles all the compliance (opt-out, opt-in), and has great tools for building professional emails quickly and easily. If you have a web site, you can place a field on your web site to allow visitors to subscribe to your emails.

No matter which method you use, content is king. Go out there and show your clients, peers, and prospects that you know your stuff. They will remember you when they need appraising services.

Resources
Constant Contact
Compliance - Can SPAM Act

Please send me any comments or questions you have.

Brian Hiatt
Collectorpro Software Inc.
www.collectorpro.com
information@collectorpro.com

Disclaimer: I am not affiliated with Constant Contact in any way and receive no compensation or other consideration for this commentary.

Tips for Smooth Sailing When Appraising Model Ships

2009-08-24T17:03:00.007-04:00

by Suzanne Houck

Sometimes you attend a lecture where the information is so good that your notes survive year after year of “file thinning”. Once upon a time I attended a lecture by Sara Conklin, ISA, CAPP, an appraiser who specializes in all things nautical. The information she shared has served me well over the years giving me confidence in gathering appropriate information during onsite inspections and providing the knowledge to determine when I needed to seek the opinion of an expert. It is too good to keep to myself!

Proper Description:
Use the correct terminology. Vessels are the proper term for most everything that is upon the water. Don’t use the word “ship” unless it is a ship. A ship – short for “full-rigged ship” is a definite combination of masts and sails. You are safe if you say “vessel.” A tug and submarine are always “boats.” “Boats ride on the deck of ships” is another old chestnut that tells you the size difference.

When describing the vessel refer to port (left) and starboard (right) as you face the bow, the front pointy end. Stern is the back end, behind you.

Details to look for:

The Hull:
Is the hull carved from a single hunk of wood (low end), slices of shaped wood, or, is it plank on a frame (the best)? You can sometimes tell if the hull is plank on frame if it has little tiny planks along the entire side and small nails covered with plugs of wood (called treenails) all lined up. It can be impossible – and is dangerous -- to remove the cases from atop ship models. This observation can be done looking through the glass. In less valuable models these hull planks are drawn on.

Hulls can be “coppered” which means tiny pieces of copper are nailed onto the wood. Sometimes it is a copper strip that is stippled to represent nails. Coppering the bottom of a hull reduces the work on a plank on frame hull but can be also labor intensive depending on the technique. Individual smaller pieces of copper attached to the lower hold down to the keel (the backbone of the vessel) is time consuming which means more valuable. (To Read the Rest of the article click the Read More Link below)

Lifeboats/Captains gig’s/whaleboats/ “Going ashore boats”:
How many are there? Are they overturned so you can’t see the details; Are they hung from davits (hooks on the deck from which they lower the boat to the water; Are they hung off the stern? Note the location and the detail.
Is/are they covered with fabric or open and constructed like a planked hull? Covered is the easy, less valuable way.

Portholes:
Are they individual, metal surrounded portholes with something to represent window glass or are they just drawn or scored on. There is a big value difference since the real portholes are much more trouble, thus prized.

Deckhouse:
How is it constructed? Like a real house with doors that open or just a hunk of wood with drawn on doors? Again details, details, details.

Sails:
Are there any? What are they made of? Are they rolled and tied up and thus “furled” or “set."? Are they individually hand stitched or glued?

Makers:
Who made it? Is there a plaque? There are only a handful of builders making technically accurate models whose names command respect. Sailor made models are valuable but bleed into the folk art category since the rigging (masts, spars and sails) are exaggerated in size and the whole presentation lacks precision but not accuracy. Remember sailors knew where everything went because they were handling the ship in the dark.

Where to get comparables
The market for these items is small and there are less than a handful of good dealers in the U.S. The three main auction houses in U.S. dealing in ship models are Maritime Auctions, Butterfields/Bonhams and Northeast Auction. Internationally, there are the London offices of Christies and Sotheby’s.

Best Advice:
Go to as may maritime museums as possible and begin really looking closely at ship models. The best are in museum collections and seeing a lot of them will sharpen your eye.

As always if you don’t feel knowledgeable enough to value it yourself consult with an expert but remember the photos you send them must clearly show all the details discussed above.

Happy sailing!

This article was written in conjunction with Sara Conklin, ISA CAPP.

Establishing Your Appraisal Library: Shelving

2009-08-22T16:20:00.005-04:00

You can have the greatest library in the world, but, if you can't find that particular volume then your library is worthless. The number one thing you must have when starting this business is some type of strong shelving and proper storage.

You might be starting your appraisal career with a dozen volumes, or you might be established and have a library of thousands of titles. Either way, you've got to have proper storage / shelving.

Your ultimate goal is to have your own place. I understand this is not always possible. The author Virginia Wolfe is quoted as saying she "hoped in the future that all women would have a room of their own." That's what we as appraisers should strive for - our own room, our own place, to store our work.

Be creative with where you are at right now. You might want to start with a bookshelf or a bookcase in a corner of a room. Explore the options of a finished basement, space under a staircase, or in an unused guest room. Whatever direction you make, be sure that your shelving is strong! Sure, right now, it can hold a dozen books but what about in the future? What about when you collect several hundred? All bookcases, shelves or units MUST be firmly bolted to the wall, into masonry, or into wood studding.

DRY WALL IS NOT SECURE FOR BOLTING!

Make sure that ALL shelving is strong and re-enforced on the sides. An extra feature, but one that I don't really like is adjustable shelves. Just make sure that these are bracket arms that lock into slots in the back, that extend to the depth of the shelf. Little metal or plastic tabs on the sides to hold the shelf up will not last for very long. (To Read the Rest of the article click the Read More Link below)

If you have someone to build a bookcase, go immediately and find the tallest book in your collection and add half an inch to it and make that, for at least one section, the height of your shelves. I went to a lot of trouble to have a bookshelf made only to find that the shelves hold only a little taller than a modern novel. So some of my tall books have to lie sideways. It's not good for the book and it looks sloppy. Reference books are notorious for being oversized.

Don't be tempted to let others infiltrate your empty shelves with their cookbooks, toys, glassware, or other things. You'll need that space one day.

One last point, we’ve seen the shelter magazines with beautiful book cases with plants, clocks, globes, sculpture and the like sitting on the shelves with the books. Save that for your living room. This is your WORKING LIBRARY. Sure, you can make it attractive, but tuck small things on top of or in front of your books, not in place of your books. The object is to store your books, not your collections. More to come later on the essentials in your library.

Modern American Designers

2009-08-19T12:15:00.011-04:00

As appraisers, we know the relationship between people and furniture is never static. The value and popularity of certain objects are constantly in flux. The nineteenth-century middle-class American home was all about objects, and heavily influenced by European aristocratic models. The pursuit of comfort and advances in technology and materials led to significant changes in the aristocratic idiom. But then things began to change.

In the twentieth century, modern furniture design was transformed by innovation and the influx of new styles. Much of the influence came when emigrant designers fled Europe eager to express and give vent to their visions. They incorporated new techniques, materials and methods to create a distinctly American style. While modernism was not created in America, it took on a look inimitably its own.

Over the next few months, I thought I would present a few modern designers’ work; explain what type of furniture maker they were and how their work has been doing in the market. Many of you will already know these designers and others may only be familiar with their names. Regardless, change is always going on, and we need to be aware of many different areas.

When modern design first hit America, the reception was mixed. Some people embraced these changes enthusiastically, others weren’t so sure. Modern design experienced highs and lows throughout the remainder of the century. The simplicity and popularity of mid-twentieth century design gave way in the 1980s under the Ronald Reagan influence to a more classic historical style. In clothing, Ralph Lauren brought back the quiet elegant look of restrained traditionalism, and the old money English country manor visage was made chic again by New York's "Prince of Chintz," Mario Buatta as he put a fresh twist on paneled rooms, Queen Anne furniture and floral chintz drapery treatments. Creative furniture designers were pushed to the fringes in mainstream America. (To Read the Rest of the article click the Read More Link below)

In the early 90s, there was a renewed interest in furniture from the mid century. Designers who made mass produced pieces such as Charles and Ray Eames, Eero Saarinen and George Nelson, became highly sought after. After their creations reached high prices at auction, the trend expanded. By this decade, names such as George Nakashima, Vladimir Kagan and Paul Evans began to emerge, as well as other studio designers whose work was never mass produced. Their market developed rapidly as the internet gave these designers more exposure and the economy expanded to include younger collectors. In the past few years, designers such as James Mont, Tommi Parzinger and Karl Springer who produced custom designs have been elevated in the spotlight.

Internet dealer venues such as 1stdibs and auction houses began to specialize in featuring rediscovered designers from the past. Furthering this exposure, dealers, design magazines and internet blogs began to explore many of these designers, as well as many still relatively unknown in their attempts to present the freshest, chicest high-end vintage items. As a result, many items that would have been considered nice, high-end furniture items passed over by most shoppers are now beginning to be sought after. In the years to come, it will be interesting to see who else will be uncovered and appreciated once more.

Think Global and Think Local

2009-08-13T17:44:00.020-04:00

By Stephen P. Sweeting, ASA

As appraisers we routinely discuss market conditions within our appraisal reports. Depending on the type of report, discussions might range from a brief overview of the relevant market in a summary report to a more detailed description and analysis included in a self-contained appraisal document.

In this age of globally-connected marketplaces and international reporting it is not difficult to find generalized overviews of market conditions in sources like Artnet, Artfact, Art and Auction and other on-line and print publications. In the appropriate circumstances, sources like these can provide an excellent foundation for discussing international market conditions within the context of an appraisal report.

Where these excellent sources sometimes fall down, however, is on the coverage of local market conditions. To explore these it is essential to be plugged into what is going on in your own community. Attending auctions, browsing in commercial galleries and shops, and discussions with dealers, auctioneers, collectors, and other appraisers are obvious sources for intelligence of this order.

But it is also important to pay attention to local stories published in print and on the Internet by daily newspapers—some of which might have ramifications on the marketplace. An interesting example of an arts-related business story that could have a real effect upon a local and a regional market currently is being played out in Toronto. After a long-term business relationship Sotheby’s Canada and Ritchies Auctioneers are effectively “divorcing” due to alleged non-payment issues. According to reports in the press, a significant number of consignors had not been paid by Ritchies’ accounts department and Sotheby’s had to step in to rectify the situation.

Over the past eight years, Sotheby’s Canada and Ritchies have been linked through an auction services agreement with the local auctioneer handling the international firm’s bi-annual sales of Important Canadian Art. As one of the “big three” in the Canadian art auction scene, the Sotheby’s-Ritchies combination produced a series of impressive results, including the record-breaking sale of a remarkable Paul Kane canvas in 2002 for a hammer price of CAD $4.6 million and multiple successes in the Canadian Contemporary Art field. Although "Sotheby’s in Association with Ritchies" had settled into a second place position behind another auctioneer (see my July 11, 2009 post, Canada's First "PoMo" Auction House Navigates Soft Art Market), they have remained a potent force in the auction world in Canada. (To Read the Rest of the article click the Read More Link below)

The relationship’s end sent a minor shockwave through the auction-going community here in Toronto and was covered by the local and national press. There is little doubt, however, that Sotheby’s will recover from the temporary setback. After all, Sotheby’s has been in operation in Canada since the late 1960s and the firm has many years of experience in presenting auctions of high-end Canadian art in major hotels with their own staff. The Sotheby’s-Ritchies split simply suggested that the two firms would continue independent of each other as they had prior to 2002. While Sotheby's would continue to focus on the upper-end Canadian art market, Ritchies would be able to continue its role as a general auctioneer active in a variety of market sectors related to fine art and antiques, albeit at a regional rather than a national level.

But an additional angle to the story emerged when resignations and layoffs at Ritchies were reported in the press and circulated by staffers. As well, unconfirmed stories started to emerge that Ritchies’ consignors were scrambling to recover property and that proceeds had not been paid. Rumors of a potential sale of the auction house surfaced and Ritchies’ offices and salesrooms were effectively shut down without any clear indication of how business operations would resume. Observers of the auction trade in Canada are asking whether or not Ritchies is going to end up as yet another victim of the recession.

The Sotheby’s-Ritchies split and the latter house’s teetering position in the Canadian auction market will have little if any affect on global markets. And indeed, I suspect there will be little impact on the top tier of the Canadian art auction market; the three major players – Heffel Fine Art Auction House, Joyner-Waddington’s and Sotheby’s -- will still be in the game. But the lower and mid-levels of the Canadian fine art and antiques auction market could be affected if Ritchies disappears from the scene. And there is little doubt that both the Toronto market and the regional market in southern Ontario will be affected with one fewer general auctioneer.

I believe this interesting Toronto scenario is a good tool for appraisers to consider how a local fine art and antiques market might be affected by reduced competition due to insolvency or other recession-driven circumstances. Below I have listed a number of possibilities that crossed my mind while drafting this article. Of course, all these are speculative without any grounding in evidence – but they are interesting possibilities to consider:

Reduced competition in the Toronto auction market could cause commission rates and buyer’s premiums to rise. Increased costs have the potential of making sale at auction less attractive, resulting in fewer properties finding their way to the public market.

Fewer venues for the sale of low and mid-range properties might stimulate the buying and selling public to look to alternative avenues of sale like eBay, Craigslist, consignment shops, etc.

With only one rather than two general auctioneers in Toronto, consignors might be forced to be less aggressive in their reserve expectations. This could result in lower prices.

Competing auctioneers in neighboring cities and regions might find that both consignors and potential buyers seek them out resulting in a de-centering of the marketplace.

New or lower tier auction businesses with aggressive commission structures and buyer’s premiums might be encouraged to step into the void.

As a theoretical exercise, consider how your own local fine art and antiques marketplace might be affected if one of the key players went out of business. And to take the exercise a step further, think about how you would describe the new conditions in your appraisal reports. Local structural changes can have a significant impact upon trade conditions. Don't neglect to consider them in your appraisal reporting.

Eight Guidelines to Avoid Loss to Estate Personal Property From Commonly Made Mistakes

2009-08-13T17:26:00.018-04:00

By Nancy Burke Bosch, ISA AM

I am sharing this brief article to the Appraiser’s Post as a template for other appraisers who help people downsize or consult with trustees and heirs in regard to estate liquidation. This article is adapted from a handout I give to clients, trustees and heirs as part of a comprehensive estate consultation, ideally conducted prior to death or shortly after. I also use a variation of it as a mailer to former insurance appraisal clients. The handout addresses issues that have come up in various estates I have handled and is a very helpful handout to stimulate additional business. I have also used it for mailings to Trust Departments of banks and Estate Attorneys. Appraiser’s Post members and readers are welcome to adapt this information for their own use. I ask that you, of course, personalize it for your company and substitute your experiences and examples for mine.

“Eight Guidelines to Avoid Loss to Estate Personal Property from Commonly Made Mistakes”

On average an ordinary home contains approximately $10,000 worth of personal property. A more upscale home with fine art, antiques, fine china, silver and other appreciating personal property often contains upwards from $60,000 - $1,000,000 or more worth of goods. Several good paintings alone can total $100,000. We at Bosch Appraisal and Estate Services seek to educate our clients and estate professionals to give estate personal property the attention it deserves.

Guideline Number One: Call an independent appraiser to identify valuable items of personal property before you do anything else. We suggest calling a qualified appraiser of personal property as the FIRST thing to do when assigned with the important task of settling an estate. Do not throw anything away, sell or distribute anything until this has been done. If there are antique furniture items, oil paintings, works on paper, antiques, fine china, collectible porcelains, art glass, sterling silver, oriental rugs, leather bound books, jewelry, collectibles and other appreciating property in the residence of the deceased, the accumulative total can be considerable.

Be certain the appraiser you call is a member of an appraisal society that tests its members and holds them to a Code of Ethics. An appraiser should not offer to buy anything that they appraise, for to do so is a conflict of your best interest. Guideline Number Two: Do not sell an item to the person who has set its value. (To Read the Rest of the article click the Read More Link below)

Guideline Number Three: At the time of death change the locks on every door. Only those persons who are completely trustworthy should be given a key. No person should have access to the personal property alone, including the safety deposit box. They should always be accompanied. The sense of entitlement that heirs often experience at the time of death of a parent, especially when there is family strife and disagreement, can easily overwhelm their sense of right and wrong. Pilfering can go on for a long time before it is discovered. We have had clients tell us of siblings pilfering items from the household as their mother lay dying in the next room. One estate had a sticky note on the wall where a taxi driver who had driven the deceased to the hospital daily, somehow felt it was alright to remove an oil painting from the wall.

Do not leave the disposition of personal items to chance. Be direct and specific. Be certain everyone involved knows exactly who is getting what items prior to your death.

We have personally seen two sisters fighting to the bitter end each holding one diamond earring and wanting the other. This does not just happen with family members. We have seen bank trustees, church friends, caretakers and others set aside or take plum items for themselves, somehow thinking these estate items no longer belong to anyone and are free for the taking. Guideline Number Four: Write down exactly who you want to receive what items, and include this list as part of your will or your family trust.

On another appraisal assignment, we found that china and other items shown in photos from a previous appraisal were missing, along with a valuable set of sterling silver flatware. It was later determined that a certain heir systematically removed one valuable item at a time from the home each time she visited her terminally ill stepfather. While other heirs were busy caring for their stepfather, she had removed an estimated $7,000. worth of goods, some of which had been left in the will to others. Guideline Number Five: If you have valuable items of personal property have a written appraisal done prior to your death. Give a copy to every heir so that everyone knows the value of items in the household and one person cannot take advantage of the others’ ignorance.

Bosch Appraisal finds unidentified valuable items in very odd places. Some are about to be thrown out, donated to charity, sold in a full house "buy out" or given away. We recently located a KPM porcelain plaque which was hidden in the linen closet wrapped in towels which were headed for charity. We assisted our client in selling the plaque for $3,000. Guideline Number Six: Keep a list for your trustee and heirs of exactly where valuable and important items are kept.

When escrow on the house is near to closing, a “buy out” dealer can make a killing. A buy-out dealer is someone who buys and hauls away an entire household, usually for very little money. They can be a desirable option when the entire house must be cleared quickly, but first everything of value should be identified and removed. We have been called at the last minute by a client who was negotiating the sale of an entire household to a “buy out" dealer because they needed to empty the house. This dealer was practically drooling over specific items while at the same time offering a mere $2,000 for the entire lot. Fortunately, our clients became suspicious. Within that estate we identified an Aurene Art Glass Lamp, alone worth $2,800 amongst other items totaling $28,000. Guideline Number Seven: Do not underestimate the cumulative value of a lifetime accumulation of personal property or sell it to a "buy out" dealer just to get rid of it.

Guideline Number Eight: Do not assume your trustee or heirs will automatically know what is valuable and what is not. You might not know that something you received as a wedding gift fifty years ago is now a prize collectible. If you don’t know the value of your personal items, how will your heirs know the value when you are gone?

There is much, much more to learn. There are specific situations when you will need a written fair market value appraisal for estate tax or equitable distribution amongst heirs. Other times you may simply need a one hour verbal consultation onsite. Or you may wish to hire us to conduct an onsite estate sale. There is only one time to settle an estate and the learning curve is high. We specialize in helping you through this process with ease.

You are always welcome to call us here at Bosch Appraisal and Estate Services. Our number is 707-773-3970. Call us first before you make any important decisions in regard to estate personal property.

We offer a free one half hour telephone consultation in regard to your specific situation with no obligation. We look forward to hearing from you now or in the future.

"Call a Qualified Personal Property Appraiser First, When Settling an Estate"

Sincerely, Nancy Bosch, ISA AM