Are you considering an Internet appraisal for your quilted textile?

Recently, several Internet auction sites have started to offer appraisal services, enlisting in-house staff, appraisers and subject matter specialists, to provide values for items from photographs. This has caused a great stir among professional appraisers regarding the ethics, accuracy and liability of such appraisals.

While members of the Professional Association of Appraisers for Quilted Textiles/PAAQT are not participating in this form of appraisal, as a service to quilt owners we want you to consider the following:

The Appraisal Foundations' 1999 Uniform Standards of Professional Appraisal Practice defines an appraisal as "the act or process of developing an opinion of value". In practice, an appraisal is an unbiased opinion of value supported by research of various markets with the data analyzed by a trained person who is knowledgeable about the property being valued and acts in accordance of established Standards of Practice.

Any evaluation conducted from a picture is not an appraisal. It is an opinion that is a "best guess". Absent from this type of opinion is market data, as well as, value research and analysis that separates value from cost and price.

Before getting any appraisal, you should have answers to the following FAQ's.

1. Who is the appraiser providing this service?

Many qualified individuals, who have not submitted to the certification process, can perform appraisals. However, as AQS certified appraisers, PAAQT members have been thoroughly tested in this specialty of appraising quilts and are required to continue their education regularly to retain and upgrade their skills. Members of PAAQT also subscribe to a cannon of ethics, which require a physical examination of the textile to perform an appraisal.

2. What are the appraiser's qualifications to conduct appraisals of quilted textiles?

A qualified appraiser of quilted textiles should be regularly practicing this skill. They should conform to standards for providing written appraisals. They should be able to provide a biography of their experience, education and references, upon request. The quilt market is highly volatile and complex and it is recommended that the appraiser have a specialty in appraising quilted textiles.

3. What is the difference between an Internet evaluation and a written appraisal?

While both are opinions, a written appraisal provides a complete description of the item, including age, materials, maker and physical characteristics, documents the condition and workmanship, notes elements of provenance, and expresses an opinion on the value for either fair market, insurance or donation, based on the client's specific need. Unless otherwise expressed, values are for the general US market. A written appraisal which meets the required specifications of the Uniform Standard of Professional Appraisal Practice (USPAP) is recognized by insurance companies, the IRS and other legal entities as a valid expression of an item's worth.

An Internet evaluation provides a value or value range that an item may achieve in an auction or direct sale. While these evaluations may feed one's curiosity, they serve no other purpose.

4. Why would I need a written appraisal?

Insurance companies recognize appraisals, which conform to USPAP standards, as a determination of the replacement value of an item.

Without a professionally written appraisal, your quilted textile may be classified as a blanket by an insurance underwriter, and therefore might be given a value of approximately $50 or less.

For donation value appraisals, the IRS has specific requirements and regulations that must be conformed to and a professional appraiser will be able to accommodate these needs. Some of the considerations include the timing of the appraisal before the donation and depending on the item's value, the appraiser may be required to certify that your tax return properly reflects the donation calculation.

In many states, estate dissolutions, divorce or other legal actions requiring evaluations must be written to accepted standards. Lawyers and court representatives may even require specific forms for the appraisal summary.
Fair market value also has an established definition that requires the appraiser to have knowledge of current market conditions, regional variations and vacillations in popularity of styles, designs, patterns, colorations and techniques. The appraiser cannot have any vested interest in the resulting value and should not offer to purchase the item as part of the appraisal transaction.

5. What is the difference in cost?

There is no single fee for the services of a certified appraiser, as it varies by individual. Do not use the services of any appraiser who bases their fee on the value of the item to be appraised.

6. Why can't an appraisal be done from a picture?
A picture can be of excellent quality yet will not provide information that can be vital to an appropriate estimate of value. For instance, a photograph of a jewelry box that replicates an antique chest of drawers could be misinterpreted as an antique piece of furniture if the appraiser was not provided with dimensions. Photographs can be enhanced so that damage would not be visible. The quality of the photograph and the talent of the person providing information frequently do not offer enough reliability for an appraisal. 

If you have excellent skills in providing written descriptions, know the date the item was made, can identify all the techniques used in the construction, and know the source and condition of all stains and marks on the surface, plus you can relate all this information to the appraiser with full front and back, as well as detailed photographs and all known information on the maker and source of the item, then the appraiser may be able to provide a value that is in the relative ballpark for fair market from a picture.

However, an appraiser examines the construction, workmanship and condition of the textile. It is difficult to evaluate what is "crisp" to one individual and "as new" to another. Does "crisp" mean that it is brittle? Does "as new" mean that it hasn't been washed? These details, and many others that can only be observed in first person, could have a substantial effect on value.

Another important consideration is the determination of ownership. It would generally be difficult for an appraiser to determine if the item was owned or even possessed by the person presenting the picture. The problems with liability or culpability in a fraudulent misrepresentation are endless.

The Internet "appraisal" services can be useful if you understand the philosophy. The information will be a verbal approximation of value without research of the market and therefore becomes the appraiser's best guess.