Clock Appraisal
Dos and Don'ts of a Clock Appraisal
If you own an antique clock and are considering selling it, there are some facts you should know before agreeing on a price. Getting an appraisal is very important, but make sure you find a clock appraiser that is trustworthy. Here are some helpful tips about clock appraisals.
What is an Antique Clock Appraisal?
An appraisal is the act of estimating the value of something. The person who determines this value is an appraiser. With an item such as an antique clock, the appraiser determines the authenticity of the clock and the clock's value based on certain factors such as age, design, maker, original owner, working condition, appearance, etc.
Take Precautions when Choosing a Clock Appraiser
Before hiring an appraiser, check out their credentials and make sure they are familiar with the type of clock you own. Find out what type of appraisal training they have received and what methods they use to determine the value of clocks. Ask if they are a member of any professional organization pertaining to antique clocks.
To make sure the appraiser is properly licensed, there are three major appraisal societies in the U.S. that require their appraisers to be properly tested and trained. These are the International Society of Appraisers (ISA), American Society of Appraisers (ASA), and Association of America (AAA). The American Society of Appraisers (ASA) originated in 1936 and is the oldest organization of appraisers. The members of these three organizations are highly qualified and well respected appraisers. They are qualified in all types of appraisals such as estate liquidations, insurance damage claims, business valuations, and more.
Use your own appraiser, not one provided by a potential buyer. Also, always have the appraiser put it in writing. This is to protect you if the appraisal is challenged by an insurance company or a legal situation. The appraiser may have to prove why and how he or she arrived at the value of the clock.
In order to give a good appraisal, the appraiser will need to physically see the clock and examine it. A reputable appraiser will charge for the time it takes to do the appraisal, not a percentage of the value of the clock.
Getting an appraisal can be costly but it could tremendously benefit you when you need to sell your antique clock, insure it, or value it for other purposes.