Appraisal Organizations Unite to Warn of Risks of Uncredentialed Personal Property Appraisers

. May 5, 2015

The three major personal property appraisal organizations jointly announce an initiative to educate the public regarding meaningful qualification standards for Appraisers. The American Society of Appraisers, the Appraisers Association of America, and the International Society of Appraisers, support qualification standards required by the Department of Treasury, Internal Revenue Service (IRS) and the Appraisal Qualifications Board (AQB) of The Appraisal Foundation. All three professional associations adhere to these rigorous standards, which improve appraiser professionalism and competency.

The presidents of the three organizations, Betty Krulik (AAA), Cindy Charleston-Rosenberg (ISA), and Gary Smith (ASA) released a joint statement saying: “We are proud to stand together, creating a circle of trust to protect the public by upholding the values, ethics, and credentials of each of our organizations through a demanding credentialing processes that includes training and testing of all members on valuation theory, professional methodologies, and product knowledge.”

Members of these associations earn their credentials through a stringent admissions, training and testing process, are required to comply with IRS and AQB guidelines, adhere to a code of ethics, and to complete continuing education requirements. These qualifications provide a level of professionalism that is unmatched, and ensure the public that appraisals performed by an accredited appraiser are among the most reliable appraisals available.

All three organizations strongly urge the public to verify the educational and experiential background of an appraiser prior to retaining their services, and to be wary of red flags that indicate an appraiser may not be objective in conducting appraisals. These include charging for appraisals based on the appraised value of an item, or offering to purchase an item the appraiser has appraised. Professional, competent appraisers always conduct appraisals at “arm’s length,” without self-interest.

Questions or requests for further information about this joint announcement may be directed to: American Society of Appraisers (800) 272-8258; Appraisers Association of America (212) 889-5404; or International Society of Appraisers (312) 981-6778.

International Society of Appraisers
The International Society of Appraisers (ISA) is the largest of the professional personal property appraisal associations representing more than 800 of the most highly trained and rigorously tested independent appraisers in the United States and Canada. We are a not-for-profit, member-driven association, formed to advance excellence in the personal property appraising profession, and to enhance public trust by producing qualified and ethical appraisers who are recognized experts in personal property appraisal methodology, theory, principles, practices and ethics. We pride ourselves on a strong, collaborative national network of appraisers who draw on highly specialized knowledge, skill and experience, serving as a resource to our fellow members. For more information on ISA’s educational programs and credentialing standards, or to find an ISA appraiser, please visit www.isa-appraisers.org or call (312) 981-6778.

Appraisers Association of America
The Appraisers Association of America, established in 1949, is the premier national association of personal property appraisers who focus on fine and decorative arts. With a membership of over 700 independent appraisers in 100 different areas of specialization, the Appraisers Association’s roster of well-established professionals has the widest range of experience and expertise in their respective fields. Appraiser Association appraisers work with private and corporate art collections as well as partner with collectors, attorneys, accountants, museums, educational institutions, trusts, brokers and insurance carriers to reflect the highest industry standards. All members are required to be certified according to the highest professional standards, known in the field as USPAP (Uniform Standards of Professional Appraisal Practice). For more information on the Association, our credentialing or to use our free “Find an Appraiser” search function, please visit www.appraisersassociation.org or call (212) 889-5404.

American Society of Appraisers
The American Society of Appraisers (ASA) is a world renowned and respected international organization devoted to the appraisal profession. As the oldest and only major appraisal organization representing all appraisal specialists, ASA’s nearly 5,000 members comprise all appraisal specialists, including nearly 1,900 personal property, gems & jewelry and machinery & technical specialties appraisers. ASA is devoted to providing the highest possible standards in all areas of ethics, professionalism, education and designation criteria. For more information about the American Society of Appraisers, the ASA designation program for appraisers or the Society’s free “Find an Appraiser” Referral System, visit www.appraisers.org or call (800) 272-8258.

Category: Auction News

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