Frequently Asked Questions
What is a USPAP-compliant appraisal?
USPAP stands for the Uniform Standards of Professional Appraisal Practice, the nationally recognized ethical and professional standards that govern all appraisal work in the United States. A USPAP-compliant appraisal ensures your report meets the requirements of the IRS, courts, insurance companies, and financial institutions.
What does an appraisal cost?
Fees are based on the scope and complexity of each assignment and are discussed during the initial consultation. LwDuke Appraisals does not charge a percentage of the appraised value, in accordance with USPAP ethical standards.
How long does an appraisal take?
Every assignment is different. A single item appraisal can be completed quickly, while a full estate inventory may require multiple visits and additional research time. A timeline will be discussed during the initial consultation.
What do I need to prepare for an appraisal?
Any documentation you have about the items, such as receipts, prior appraisals, provenance records, certificates of authenticity, or family history, is helpful but not required. Guidance on what is needed will be provided based on your specific situation.
Can you evaluate items from a photo?
Yes. Online photo evaluations are available as a convenient option for any client. Simply email clear photographs of the item along with any available information about the maker, dimensions, material, and condition.
How is a verbal valuation different from a written appraisal?
A verbal valuation provides a professional opinion and range of value without a formal written report. It is a practical option for general curiosity or preliminary decision-making, but is not suitable for legal, insurance, tax, or estate purposes.
How often should I have my items reappraised?
The art and antiques market fluctuates over time, and an appraisal that was accurate several years ago may no longer reflect current values. For insurance purposes, appraisals should be reviewed every three to five years, or sooner following a significant market shift, a major purchase, or a change in your coverage.