An ISA Member in the Far East

Khadinn Khan, ISA AM

I was the Chief Claims Adjuster and Risk Surveyor for AXA ART, the global art insurance specialist, in Asia, when I applied for ISA membership in 2016.

Art insurance is still a developing business in the region, where more collection owners or custodians elect to self-insure rather than taking up specialist coverage. I worked with a small team at AXA ART and was the only member with adequate art knowledge, therefore, I was tasked with the responsibility of verifying and approving the sum insured (on agreed value basis) of artworks proposed by brokers and clients on their insurance policies. People began to approach us with items which they thought were of high worth and wanted to insure, including items purchased many years ago or passed down to the family, and expected us to provide a solution or referral for valuation. These requests were particularly common when I was conducting risk surveys at clients’ homes. After a while, it became apparent that if I could add art appraisal expertise to my skill set, it would help to progress my career.

There are a very low number of professional art appraisers in Asia due to lack of demand. In Hong Kong, we have a low tax rate and a simple tax system that provides no tax relief for charitable donations, except for cash contributions. Additionally, estate duty has been abolished, so neither estate duty accounts nor clearance papers need to be filed. With no governmental requirements for appraisal, there is simply limited demand to support professional appraisal businesses. At the same time, China and Hong Kong have emerged dramatically as an art market and are now considered the world’s second largest, according to The Art Market 2018 report published by Art Basel and UBS. The lack of professional art appraisal service is hindering the growth of other financial services, such as art insurance and art-backed loans.

There is clearly enormous potential for appraisers in Asia, but what convinced me to obtain a formal education in art appraisal was my personal involvement in a unique damage claim.

Hong Kong Harborfront © Art Basel 

An auction house client reported a claim for damage to a Song dynasty ceramic vase that was on consignment to them. The damage was a hairline crack to the edge of the base. In these situations, restoration may not be the best option, as the market preference is to avoid alteration on minor damage. We agreed with the client and consignor to settle on a diminution of value basis. As there was no qualified appraiser available to take up the assignment, and because of an urgency to settle the claim, all parties agreed to a proposal of having two antique dealers inspect the damaged vase. Each dealer would separately suggest the percentage loss in value, then we would use the mean as the basis of settlement. In the end, both dealers came up with the exact same extreme percentage, which took everyone by surprise. They did not provide any reasoning or justification of their valuation, and were not obligated to. We had no option but to settle the claim accordingly. This experience motivated me to source an independent, transparent appraisal process for future claims in order to leave no party confused or suspicious. My research subsequently led me to ISA.

Attending ISA courses in Naperville turned out to be one of the best decisions I made for my career. First of all, it was achievable. I was able to start from scratch and complete the Core Course, the 15 Hour USPAP course and Fine Art course in three weeks. The courses were well structured, with visits to art museums and a printmaking studio. The classroom discussions were particularly lively and often based on real-life examples shared by fellow colleagues encountered in their daily businesses.

Coming home with my new credential, I was determined to spread the word and do what was necessary to promote good appraisal practices with the goal of raising overall personal property appraisal standards in the region. Using knowledge I gained through my ISA education, I was able to educate industry professionals and art collectors. I informed bankers and insurance professionals on what USPAP is and asked them to consider USPAP-compliant reports only for their insurance policies or lending out loans. For art collectors, I promote periodic appraisal as part of a good collection management program, together with a robust inventory system, maintaining good documentation of provenance and purchase records, a secure display/storage environment, and adequate insurance coverage. My message is that an appraisal report is essential for accounting and estate planning purposes, or if one wishes to secure loans using their art collection as collateral.

Lecture at Art Taipei Forum 2017

My ISA education helped me a great deal in improving communication with our claimants. Although I would not perform appraisal on damage claims that I directly handle, I could use my knowledge to guide loss adjusters to look for the correct data and comparables, seek opinions from the right experts to determine the settlement offer amount, as well as make sure their communication with the client is clear and appropriate. I demand that the loss adjusters demonstrate clearly how they arrive at the settlement offer. There are always brokers or clients who are dissatisfied with the offers, yet there has never been any complaint on the communication or lack of transparency since. Also, we’ve seen a significant drop in claim disputes for my department and my company was able to highlight our claims service as a selling point for our insurance products. I’ve also noticed in places where there is no local law governing personal property appraisal, highlighting USPAP and the ISA Code of Ethics always provide confidence to clients in knowing that the appraisals are being conducted in a responsible manner.

I would advise fellow appraisers living outside of the USA to try to attend courses on site or attend the ISA annual conference, Assets. One can feel isolated sometimes due to having few peers in the market, and for our profession, it is important to build a network of experts of different backgrounds and knowledge. Attending ISA courses or the Annual Conference is a great way to tap into the vast experience of fellow appraisers, and from my experience, they are always happy to share.

- Khadinn Khann, ISA AM, is an appraiser based on Hong Kong and has been a member of ISA since 2016. To learn more about ISA membership, visit the ISA website.

Ask an Instructor: Office Hours and Appraising Experience

ISA members are invited to send in their questions on all things appraising and education to ISA's instructors. One of ISA's instructors will share answers on the ISA Now Blog. Please send questions to directorofeducation@isa-appraisers.org.


Question: When is the next Office Hours webinar?

Answer: The next Office Hours with the Director of Education will be held on December 5th at 2pm CST. It’s a free webinar open to all ISA members for a lively question and answer session on the topics of your choice. Mark your calendar now!

Question: I’m having a little bit of trouble obtaining my 700 USPAP-compliant hours to reach the ISA Accredited Member (AM) level. Any suggestions for ways to gain more appraisal-specific experience hours?

Answer: Yes! I can certainly help. There are lots of ways for you to gain qualified hours. Remember that the hours must be towards the development and report of a USPAP-compliant appraisal. Thus, the hours can be your actual time spent performing the appraisal, both billable hours and non-billable (gratis) hours. Contact me today at directorofeducation@isa-appraisers.org to discuss a plan of action that would work best for you

- Meredith Meuwly, ISA CAPP
Director of Education

Everything You Always Wanted to Know About Becoming an Appraiser (But Were Afraid to Ask)

Jillian Van Volkenburgh

I must preface, I am not an appraiser… yet. I just completed Module 16 of the Online ISA Core Course in Appraisal Studies. I am officially past the halfway point!

Are you thinking about becoming a personal property appraiser? That was me a few months ago – I’m relocating to the East Coast and wanted to begin a career I could take with me. I would like to share my recent entrée into this new chapter of my life with ISA.

Education is an Investment 

I am currently the Director of Education for a large art nonprofit in Northwest Indiana. I am often asked to speak to students about creative careers. The one thing that I stress is that education, regardless of your area of study, is an investment. To invest in your “future you,” you also must invest two incredibly valuable things: time and money. (I know I am not an appraiser yet, so this is not a formal valuation on time or money).

When I made my first steps into researching ISA, I called their headquarters in Chicago. I wanted to know two things: how long the course would be and how much it would cost.

As I mentioned, I work for a nonprofit, so cost was a determining factor for me. And as an adult with full-time adult responsibilities, making a new commitment can be harrowing. Luckily, I found that ISA’s courses and education materials are not unreasonably priced, and that the time I have to complete the coursework is absolutely manageable. But I was definitely nervous about that time commitment before I started!

Those That Appraise Together, Stay Together: Commitment 

Two of the best decisions my husband and I made jointly were getting gym memberships and joining ISA. You thought I was going to say getting married, right? As I alluded to in the previous paragraph, commitment, eh… scares me a little bit. Well, he convinced the girl who vowed never to marry, well, to marry. That was the very best decision that I reluctantly agreed to - now we are on this journey of life, love and appraising together! And I’m glad I have committed to ISA as well.

Joining ISA as a team has many advantages. My husband and I have different strengths and areas of interest. We can discuss the coursework and bounce ideas back and forth. We have ultimately become study buddies. (Yes, I just typed that and he will be mortified for calling him that.) We can challenge each other and celebrate our successes. It even has upped our texting game beyond “Want to get dinner after work?” or “Did you feed the cat?” to “I passed my assignment!”

One important thing to remember, even though I just spent two paragraphs explaining the benefits of joining ISA with my spouse… 

You May Be Unattached, But You Are Not Alone

Even if you haven’t joined ISA with your spouse, that does not mean that you will be alone in your journey toward becoming a professional personal property appraiser. One of the many amazing benefits of joining ISA is that they are setting you up for success. Failure is not their goal. Unlike a certain sadistic college professor that we all have had, they don’t want you to fail. ISA has a number of resources put in place to ensure that you succeed.

First of all, for the online course, you work directly with an instructor via email. The instructor is there not only to evaluate your assessments, but also to answer any questions. Also, you can work with an ISA Ambassador when you first join. Ambassadors are seasoned ISA appraiser that will offer guidance for the year following your completion of the Core Course. There is also a great toolkit - the ISA Means Business! Toolbox - on the ISA website with valuable resources on how to build your business.

As we all know, the Internet is also a social network. Take advantage of it. One site that I have found useful is LinkedIn. I already used LinkedIn for my professional position, but I have extended my network to include ISA appraisers throughout the country. I sent out short messages saying, “Hey, I just wanted to introduce myself. I am becoming an appraiser through the ISA and I wanted to connect with you.” This has opened up dialogue with a number of appraisers who have specialty areas outside of my purview, so they could potentially become great resources in the future.

I Am a Student Again at 40

They say a lady never tells her age, but I will be ethical and truthful in this blog post. I am a few months shy of my 40th birthday. When I was in undergrad, we did not have the option for online learning. I enjoyed academia and being in the classroom and I was not sure if online coursework was for me. I was wrong. I LOVE IT! With a full professional and social schedule, I can dictate when and where I learn. I might be in the comfort of my office or at my local coffee shop. It is fantastic option.

The online lectures are very straightforward and thorough. The instructor gives great examples to illustrate the discussed topics to make them relatable and easy to understand. As a side note, the online proctor is unintentionally funny. His dry humor comes through ever so slightly and unexpectedly.

Read the Chapters First!

The instructor states that at the beginning of each module, you should read the chapter first and then listen to the online lecture before taking the assessment. For the first module, I was like…. oh, I will just listen to the lecture and take the test. When I reached the point to take the assessment, it took me three attempts!

No matter how confident of a person you are, when you see "Failed" in red on your screen, you squirm a bit. Reading the chapters prior to the assessments is critical because the online lectures may not cover everything in the chapter. Always take your instructor’s advice!

A Highlighter is Your Friend 

One study tip I might suggest is making a review packet. Most chapters have a page of review at the end. I made copies of each review sheet and then compiled a quick study packet. Spoiler alert! There is no review for one of the longest chapters in the Core Course Manual, Chapter 12. So l recommend taking notes as you go along and highlight key points through the entirety of the manual.

Find Some “Me Time” 

I recently read a study on the brain and memory retention in Forbes about how multitasking can cause diminished long-term memory and decrease productivity. Even though society commands your attention in every direction with 24-hour ticker tapes on the screen and constant weather/coupon/news updates on your phones, we have to relearn to focus.

Make time to study, especially when you are doing distance learning or the online course. You should set aside time that works around your child/dog/work/Roomba chasing schedule. Give yourself quiet time to absorb the information. Listen, take notes and find a study pattern that works best for you.

Wish Me Luck!

This is is my first of hopefully many blog posts of my adventures in the world of personal property appraising for the ISA website. I will now minimize this screen and begin Module 17. Wish me luck! To be continued…

 - Jillian Van Volkenburgh

Jillian Van Volkenburgh is an aspiring ISA appraiser, currently enrolled in ISA's Core Course in Appraisal Studies. The ISA Core Course is the “original” complete appraisal methodology course for personal property appraising. Its thorough scope includes appraisal objectives, intended uses, market identification and analysis, research methods and skills, ethics and professional conduct, and a detailed presentation of report formats and checklists. Students enrolled in ISA’s Online Core Course program use the same text materials as the onsite course offerings coupled with a series of interactive learning exercises and open book quizzes that must be completed as the course progresses. Learn more about the Online Core Course, our Onsite Core Course, and about becoming an ISA member.

Appraisers Qualification Board Update

Todd W. Sigety, ISA CAPP
ISA TAFAC Representative

Based on updated criteria established by the Appraisal Foundation's Appraisals Qualification Board (AQB) and to ensure that ISA remains the leader in personal property education, ISA will be updating its membership education and experience requirements effective January 1, 2018.

These new requirements were created in response to increased demand and standards for professional appraisers. With these updates, potential clients will be certain that the ISA appraiser they're working with is credible, trustworthy and up-to-date on all appraising standards.

Read on for more details on how the updated criteria will affect the requirements for different levels of ISA membership.

ISA AM and ISA CAPP

If you currently have ISA’s Accredited Member (AM) or Certified Appraiser of Personal Property (CAPP) designation, you are already in compliance with the 2018 AQB requirements. You will also be considered a “qualified appraiser” under the AQB criteria. You will need to continue taking the 7-hour USPAP update every two years, as well as documenting your continuing education hours during requalification.

ISA Member

If you currently have ISA’s Member designation you will need to continue taking the 7-hour USPAP update every two years, as well as documenting your continuing education hours during requalification. You are encouraged to continue along ISA’s education pathway to achieve your Accredited Member (AM) designation in order to be fully compliant with the 2018 criteria.

If you do not advance to the AM level, you will still be required to complete ISA’s Requalification requirements every five years. At the ISA Member level, you are not considered an AQB Qualified Appraiser until you fulfill the requirements for the ISA Accredited Member (AM) designation.

If you earn your ISA Member designation after January 1, 2018, then you will be required to abide by the updated criteria. In addition to meeting ISA’s existing membership requirements, the following new requirements will be in effect:

1. You will have three years to advance to the ISA Accredited Member (AM) level. If you have not earned your AM designation after three years, you will revert back to the Candidate level of membership.
2. In order to advance to the Accredited Member (AM) level, you will need to complete 30 semester hours from an accredited college, junior college, community college, or university.

ISA’s education and experience criteria have been developed to encompass and include all of the AQB requirements. The new criteria will make your designations more credible and trustworthy to potential clients and users of appraisals.

Read more about ISA membership level requirements

Read the full AQB Personal Property Appraiser Qualification Criteria

- Todd W. Sigety, ISA CAPP
ISA TAFAC Representative

What Is USPAP and Why Is It Important to Hire a USPAP-Compliant Appraiser?

By Sarah Reeder, ISA AM

If you need a precious item of yours appraised – perhaps a painting, your grandmother’s ring, or an antique piece of furniture – you want to make sure you hire the best person for the job.

The International Society of Appraisers is committed to offering education and training to personal property appraisers so that they, in turn, can deliver the very best in quality appraisals to their clients. An essential part of this education and training is USPAP, the Uniform Standards of Professional Appraisal Practice, of which all ISA members must be in compliance as part of their membership requirements.

This blog post will help you understand a bit more about what is required to be a USPAP-compliant appraiser and why it’s so important to choose one.

So What Is USPAP?

The Uniform Standards of Professional Appraisal Practice (USPAP) is the official guidance document published by the Appraisal Standards Board (ASB) of The Appraisal Foundation (TAF). USPAP was adopted by the United States Congress in 1989 following the problems caused by the savings and loan crisis and defines a set of recommended procedures and ethical standards for appraisers. The document is revised and reissued every two years and the current edition is for 2016-2017. The current document is 395 pages long, covering an extensive framework of standards for appraisers to follow. Standards 7 (Personal Property Appraisal, Development) and 8 (Personal Property Appraisal, Reporting) are the two that directly address personal property appraising.

USPAP also contains a number of important Rules governing the professional behavior of appraisers separate from the Standards, including the Ethics Rule, Record Keeping Rule, Competency Rule, and Scope of Work Rule.

USPAP states, "The Appraisal Standards Board (ASB) of The Appraisal Foundation develops, interprets, and amends the Uniform Standards of Professional Appraisal Practice (USPAP) on behalf of appraisers and users of appraisal services."

What Does "USPAP-Compliant" Mean?

Appraisers who state they are USPAP-compliant have pledged to follow the regulations outlined in the Uniform Standards of Professional Appraisal Practice in their appraisal reports.

There is a 15-hour course with a written examination based on the material in the USPAP guidance document that appraisers must take and pass in order to state that they are current with USPAP. After passing the initial examination, appraisers must take a 7-hour update course every two years to remain current, or they will have to take the 15-hour course and examination again.

According to U.S. law, USPAP compliance is required for real estate appraisers, those who evaluate buildings and homes, but is only voluntary for personal property appraisers, who evaluate items such as antiques and fine arts within a house. However, all members of the International Society of Appraisers must be USPAP-compliant as part of their membership requirements.

Why is It Important to Hire a USPAP-Compliant Appraiser?

It's critical to hire a USPAP-compliant appraiser because USPAP protects the interests of the client.

One of the key features of USPAP is that the appraiser is not allowed to charge an appraisal fee that is based on the appraised value of the items included within the appraisal report. It’s easy now to see how this could lead to situations where an appraised value could be inflated to increase the appraisal fee, but historically this practice did occur.

To ensure your appraisal is done ethically and professionally, USPAP Rules require that appraisers, among other things:

• Include a signed certification of non-bias and impartiality in their appraisal report
• Prepare a detailed workfile to document the specifics of the appraisal
• Meet competency requirements

If you’d like to view the detailed guidelines, you’ll find them here:

• Uniform Standards of Professional Appraisal Practice, Standard 8-3, page 59 of current edition
• USPAP Record Keeping Rule, page 11 of current edition
• USPAP Competency Rule, page 12 of current edition

Finding a Qualified Appraiser

In conclusion, individuals seeking an appraisal of their personal property should always look for an appraiser who is USPAP-compliant. While voluntary, USPAP compliance is a mark of professionalism and ethical standards and serves to protect users of appraisal services.

To find a qualified appraiser in your area, use our Find an ISA Member tool, where you can search by zip code, specialty item, and more.

About the Author:
Sarah Reeder, ISA AM, is the owner of Artifactual History® Appraisal and a Member of the Board of Directors of the Foundation for Appraisal Education (FAE). She is a generalist appraiser of antiques and art and specialist of Mid-Century Modern and 20th Century Design.

This blog post is part of a series that covers many of the topics and questions a new client might have and serves both as part of the ISA Means Business! Toolbox. You can email the link to this post or print out the information for a client asking about USPAP or for future clients beginning the research process of hiring an appraiser. This series was born out of the realization that it can be very difficult for those outside the appraisal world to obtain detailed, reliable information about appraising, and we hope that this post and the other posts in this series will help educate users of appraisal services so they are knowledgeable, empowered consumers who recognize the importance of hiring professional, USPAP-compliant appraisers.

Moving On Up With Education

By Libby Holloway, ISA CAPP and ARC Instructor

September is ISA’s back to school time. All three of our week long foundation courses, Core Course, Appraisal of Antiques and Residential Contents (ARC) and Appraisal of Fine Art (FA) are offered in the next few months. Shorter courses to include the 15 Hour and 7 Hour USPAP, Requalification and Oriental Rugs are also offered before this year’s end. The Foundation for Appraisal Education (FAE) even gets in the game with their upcoming Symposium in Philadelphia. There are lots of opportunities to make sure you are up-to-date with your qualifications and educational goals between now and mid-December. 

All members know that the Core Course and 15 Hour USPAP are required courses. After these are under your belt, you get a little freedom to choose your educational path and how you get your Professional Development Credits. (Don’t forget, Members need 50, AMs need 75, CAPPs need 100 and Lifetime members need 50 credits to renew.) It is also worthwhile to take a look at the ISA Credentialing Pathway, which provides an overview of the steps you can take to further your education.

It has been traditional to take the course that fits with your specialty area, which is certainly a good plan. Don’t forget, though, that most appraisers see many types of property onsite and need to know the basics of identification and description, whether they plan to complete the valuation or seek help from another member or specialist. Appraisers are also held accountable to appraise only that property they are competent to appraise (see USPAP).

The Appraisal of Antiques and Residential Contents (ARC) and Appraisal of Fine Art (FA) courses are great steps toward becoming an Accredited or Certified Member. Both are survey courses which offer a broad spectrum of knowledge to help appraisers understand at least a little about a lot of types of property. Survey courses don’t make you an expert on any subject but do give you a view of “good, better and best” for many types of property.

Both also teach you the language to use in writing descriptions, to identify and research the best comparable property, give tips on how to write USPAP compliant reports and prepare you to take other, more specialized courses. Since these are onsite courses, you have a chance to study with other members, learning from each other as well as the instructors. I have received help from both members I took ARC with sixteen years ago and from my students who took the course last fall. I admit to being a particular fan of the ARC class, which features lessons on lighting, oriental carpets, and everything in-between. (Maybe I’m a little biased.)  

I have been a CAPP member for several years now and have recently become an ARC instructor. I think I have a pretty good understanding of most decorative antiques and household property. This year, I have finally gathered up enough courage to take the Fine Art course in October. Though I have been comfortable including lower-value art in my reports, I have found that my lack of knowledge has potentially motivated me to turn down jobs with more complicated pieces included. I know that, with my background, I will not be competent to value all art.

That said, it will certainly allow me to be more confident when seeking help from more experienced fine art appraisers or specialists. I would even encourage those members with higher education who are pursuing the Specialty Studies path to consider taking one or both of the survey courses.

We often boast that ISA trains many of the most well-rounded and competent appraisers in the profession. The ARC and FA courses certainly play a part in making this true. I hope that you choose to join Michael Logan and myself in the ARC class this October. See you there!

We Asked the Instructors

No matter where you are in your ISA career, there are courses to help you reach and maintain your credentialing goals.

The pathway is easy to follow, with many courses being offered onsite, online or by distance education. These ISA courses are taught by successful members who are excited to share their wisdom with you, regardless of your history with the organization. Whether you’re a new member or a veteran, we’re confident that there’s something in the lineup for you.

Luckily for us, the sharing doesn’t end when the instructors leave the classroom! This blog post explores some of the top tips, favorite courses and highlights of ISA membership for our instructors. Take a look at their answers, get to know our instructors better, and don’t be surprised if you find yourself inspired to sign-up for one of our upcoming courses this fall.

Why do you enjoy teaching for ISA?

Valerie Hale

"Early in my ISA education, I was supported by generous teachers and was awarded Foundation for Appraisal Education scholarships. It is an honor to pay it forward. Teaching inspires me to grow and expand my own knowledge." - Valerie Hale, Antiques and Residential Contents

"Students are always interested, ask good questions and have good senses of humor. It's stimulating for a teacher to have an active audience." - Ellen Amirkhan, Oriental Rugs

What benefit can a student expect from your course?

Daphne Rosenzweig, ISA CAPP

"Students learn about major aspects of Asian cultural, religious, technical, historical and period styles affecting appraisals of Asian Art. They will be able to appreciate some of the important marks, why the "feel" of objects is important, what is potentially important provenance information, how the presence of standard accompanying objects alters valuations and so much more." - Daphne Rosenzweig, ISA CAPP, Asian Art: Japanese Prints and Asian Paintings and Screens


What do you like best about the course you teach?

Kirsten Rabe Smolensky, ISA CAPP

"I love teaching methodology because it is at the heart of what every ISA appraiser does, regardless of their area of specialization. It is what ties us all together." - Kirsten Rabe Smolensky, ISA CAPP, Core Course and Requalification

Leon Castner, ISA CAPP

"Watching the 'light go off' in student's minds, i.e. they understand. I also love the interaction within the class, student's stories, and sharing tips I've learned that will make their professional journey easier." - Leon Castner, ISA CAPP, Core Course, USPAP and Requalification

What piece of advice would you like to give your students?

Susan Lahey, ISA AM

"Handle as many pieces of Asian Art as possible at auction previews. There is no substitute for the experience gained this way. Touch is often as important as sight when evaluating art. (This is great advice no matter what you're learning about.)" - Susan Lahey, ISA AM, Asian Art: Asian Ceramics

Mickey Logan, ISA CAPP

"Network with other appraisers through contacts you develop at conferences, classes and through the ISA forum. Recognize that you will never know everything and don’t be afraid to ask for help. Be kind and tactful to your clients, especially to those to whom you have to deliver not so good news. Above all, be honest in all your dealings. Remember, your reputation is all you've got." - Mickey Logan, ISA CAPP, Core Course and Antiques and Residential Contents

What do you like about being an ISA member?

Meredith Meuwly, ISA CAPP

"I love ISA for the breadth and depth of knowledge available from a variety of educational platforms, as well as my fellow appraisers who are extraordinary at what they do." - Meredith Meuwly, ISA CAPP, Fine Art and Modernism: Prints, Photographs and Multiples

What was your favorite ISA course that you've taken?

Cathy Peters, ISA CAPP

"I really don't have a favorite. I've learned from them all. I think in another life, I was a perpetual student." - Cathy Peters, ISA CAPP, Fine Art and USPAP

Libby Holloway, ISA CAPP

"Of course I’m partial to ARC but the course I’ve learned the most from is the Requalification course. I learn so much from the other students. You’re never too old or wise to make your reports better, even if you’ve been appraising a long time." - Libby Holloway, ISA CAPP, Antiques and Residential Contents


Don’t hesitate to contact the instructors and ask them your own questions. Almost everyone made the comment that there are no bad questions...sounds like an invitation to reach out to them!

For more information on these and other offerings from ISA, please visit our Education webpage.

It’s time to update your library!

Did you know that a new version of ISA’s Core Course Manual is now available? A quintessential text in appraisal studies required for the ISA Core Course and the Requalification course, this 2016 version represents the most thorough revision since the late 1990’s.

A culmination of over 30 years in appraisal methodologies and principles, the new Core Course Manual revisits many traditional examples of appraising while enlisting new lessons, updated regulations, as well as the most current samples and checklists available. Complete with a table of contents, as well as a comprehensive index, the Core Course Manual has undergone new revisions to help keep appraisers up to date with the ever-changing industry.

Last year, ISA released the 2015 edition of A Guide to Identification and Evaluation of Antiques and Residential Contents, an important text for those who specialize in general household items. The latest edition covers both the timeless and the modern when it comes to household valuables and residential property. Having undergone a thorough visual update, appraisers can expect quality photos to help guide them through their ARC learning.

Another recently revised text is A Guide to Appraising Fine Art. This reworked manual provides both a basic understanding of the fine art world as well as a fresh look at authentication, connoisseurship, and modern fine art research.

As you develop your career and appraisal skills, it is crucial to stay updated and remain knowledgeable on current practices in your field, as best put by Libby Holloway, ISA CAPP:

“Over the last couple of years both our ARC and FA specialty course manuals have been updated to include new chapters and color photos to make learning easier. These manuals are not only course materials but will hold a place on your reference book shelf for years as some of your most valuable appraising tools. No matter what your specialty, both manuals provide guides for terminology and resources to help you write more professional appraisals.”

To learn more about what ISA has to offer your appraising practice, visit our website here, where you will find all of our educational resources from manuals to webinars and much more.

Why You Should Attend ISA’s Antiques & Residential Contents Course

By Michael Logan, ISA CAPP

The Antiques and Residential Contents (ARC) Course is an essential course for the generalist appraiser. While intended as one of the major courses for ISA members, it is also open to members of other organizations, as well as those who just want to learn more about antiques and those interesting things found around the home which may have value. If you are like many of us, you live and practice in an area where you may be the only appraiser for miles and you get called on to appraise everything in the home. Or maybe you have a specialty area for which there is currently a lower demand and you’re taking on other assignments as well.

The completion of the Core Course in Appraisal Studies is just the first step in your ISA education. It covers the fundamentals you need to know before taking on an appraisal assignment. The next step is to decide what path you want to take in your appraisal career. The two primary paths are Fine Art and Antiques & Residential Contents. Each of these has its own specialty course which is required to reach the ISA AM designation (Accredited Member) in that specialty. You will discover that more and more insurance companies, attorneys and courts are requiring “accredited” or “certified” appraisers.

While most of those clients likely don’t understand what those distinctions mean – or are working under the assumption that there is some type of state credentialing – as an ISA Accredited Member, you are in a position to explain that you took a particular path in your professional career to belong to a society that requires education and keeps its members well-informed and up-to-date. This is a strong advantage you have over those without the training and credentialing.

Let’s look more closely at what the ARC course offers:

• The ARC manual has just undergone a major revision. In addition to clarifying and expanding the existing topics, a number of new topics have been added which the generalist appraiser may frequently encounter. The addition of color photographs pair nicely with the text to give the student a more efficient understanding of the items being discussed. You will find that this manual will become one of the most useful references in your appraisal career.


• Areas covered include French, English and American furniture with a stronger emphasis on American, going through all the major design periods and styles from 1600 to the present. You will see the parallels between furniture and all other decorative arts fields.


• You will learn about ceramics: pottery and porcelain, glass and silver, dolls and toys, textiles, musical instruments, books, prints and much more.


• This course is not intended to make you an expert in any of these fields but is instead geared towards giving you a comprehensive general knowledge that will assist you in performing valuations on future assignment. In that vein, two new topics were added to the course. The first is research methods. This is to assist both the new and more experienced appraisers to more quickly find information and comparables for the items they are researching. The second is connoisseurship for the generalist appraiser. How do the attributes of the item you are appraising compare to other similar items you might find. Is it better? Is it worse? What do the differences mean as far as value?


• Another new topic that has been added: report writing. You will learn how to create clearer, more understandable reports while ensuring that they also meet all the requirements of the ISA Report Writing Standard and USPAP. The ARC class also includes a field trip to a local antiques shop, where you will see firsthand examples of some of the items we have discussed.

So why should you attend the ARC course?

• If you are an ISA Member, it is – along with the Fine Arts course – one of the two paths to Accredited Member designation.


• You will gain a familiarity with many of the types of property you will come in contact with while performing appraisals.


• You will learn to describe many types of property properly in your reports.


• You will improve your report writing skills.


• You will come in contact with colleagues and create friendships, some of which may last a lifetime.

Want more information regarding how to register for the ARC Course in Toronto, June 6 – June 12? Learn more and sign up here. We hope to see you there!

What's New in ISA Education?

As we near Assets 2016, and its many offerings for networking and education, it's important to once again ask yourself: Where am I currently on the ISA Credentialing Pathway?

Open to members and nonmembers alike, ISA's professional development and certification courses come in an array of course formats—on-site sessions, the Online Learning Center, webinars, and Distance Education—all of which are designed to make advancing your industry-related knowledge as easy as possible. Whether you’re just beginning your credentialing process in personal property appraising or you simply need a refresher, the Credentialing Pathway offers a wide variety of professional development and certification courses throughout the year.

What’s new in 2016 ISA education?

• More courses for advanced education, including:
• Modernism: Prints, Photographs, and Multiples
• Modernism: Design, Furniture, and Decorative Arts
• Asian Art III: Foundation Course in Asian Ceramics for Appraisers
• Fine Art & ARC Courses now offered in Canada
• More course locations: Montreal, Toronto and San Francisco
• An easy-to-follow guide on how to go from Candidate to Certified ISA Member

Below is our upcoming courses over the next few months. View the full 2016 course offering on the ISA website.

Montreal

May 9–15
Core Course in Appraisal Studies
Instructors: Kathryn Minard, ISA CAPP, and Leon Castner, ISA CAPP
Montreal, Québec

May 16–17
15 Hour Personal Property USPAP Course
Instructor: Leon Castner, ISA CAPP
Montreal, Québec

May 30–June 5
Appraisal of Fine Art Course
Instructors: Kathryn Minard, ISA CAPP, and Richard Casagrande, ISA CAPP
Arts and Letters Club, Toronto

Jun 6–12

Toronto

Antiques and Residential Contents Course
Instructor: Mickey Logan, ISA CAPP
Arts and Letters Club, Toronto

Jun 13–15
Modernism: Prints, Photographs, and Multiples
Instructor: Meredith Meuwly, ISA CAPP
Naperville, Ill.

Jun 15–17
Modernism: Design, Furniture, and Decorative Arts
Instructor: Valerie Hale, ISA CAPP
Naperville, Ill.

With Assets 2016 on the horizon, we encourage you to seek out educational opportunities, share information and resources with your industry peers and fellow Assets attendees, and continue down that ever-rewarding Credentialing Pathway.

The Antiques & Residential Contents Guide – Update Your Resource Library with the Newest Edition

Thanks to the tireless efforts of its current co-editors Libby Holloway, ISA CAPP, and Michael Logan, ISA CAPP, one of our primary texts, A Guide to the Identification and Evaluation of Antiques and Residential Contents, has received notable revisions for its 2015 edition. Previous versions were published in 1996 and 2011, with the latest changes in form and content ensuring that the current guide reflects industry trends, best practices, and ever-evolving appraising procedures. The 2015 edition features significant additions, including color photographs, as well as brand-new sections regarding the writing of reports, tips for research, and more.

The ISA Antiques & Residential Contents (ARC) course was developed to provide specialty knowledge to those appraisers who cover the world of general household contents, be they antique or contemporary. This manual, which contains extensive information on 19th and 20th century furniture and accessories that forms the basis for how appraisers examine residential property, is not a price guide but rather a how-to source for procedures that include identification, evaluation, and connoisseurship.

From the preface by Leon Castner, ISA CAPP, Director of Education:
This is one of the only texts that cover the contents of a house from attic to basement, wall décor to floor coverings. It provides the information necessary for anyone seeking to become an appraiser, dealer, auctioneer, or estate sale agent, or anyone seeking a comprehensive and thorough foundation of the world of antiques, collectibles, and general residential contents.

This book has proven itself to be a crucial guide to ISA members seeking reference to the world of antiques and residential contents. Purchase your copy of A Guide to the Identification and Evaluation of Antiques and Residential Contents from ISA’s online store.

ASK LEON: Should I reject assignments due to my "competency"? If so, how do I gain experience in these appraisals if I'm required to reject them?

ISA members are invited to send in their questions on all things appraising and education to Leon Castner, ISA CAPP. Leon will share his answers on the ISA Now Blog. Please send questions to leoncastner@comcast.net.

Question: I just completed another organization’s 7-hr. online USPAP course. I am very curious if something said was an organizational opinion or a general USPAP requirement.

While the instructor was talking about “competency,” she mentioned one must make the case in the cover letter as to why you are qualified to write this particular appraisal assignment. Particularly, she expressed concern that generalists don't know what they don't know and should be extremely wary before accepting assignments. She gave this example: if you are asked to appraise a Picasso and you have only appraised a couple, then you should NOT accept the appraisal. Only someone who has appraised hundreds of Picasso's would be qualified to handle this assignment.

This really freaked me out. So many questions ran through my head. How can you gain experience if we can't accept assignments? Doesn't the CV state appropriate information regarding qualifications? Why did I just earn my dual AM designation if I don't have enough experience appraising the "heavy hitters" to accept (if only I would be that lucky!) such an assignment?

Answer: Yes, the competency rule states that you have 3 choices when confronted with any assignment:

1. You are competent to do it and tell the client you are.
2. You are not competent and you refuse the job.
3. You are not competent, but you will take steps to do the job competently. This means any number of options, which are left up to you and the client. You can take steps to become competent yourself (hard to do in a short time frame), work with a qualified appraiser or team to do the job, or a combination of the two. That’s how we gain knowledge in other areas: we accept challenges and then become proficient enough to finish the job. No one can decide how many items one must do to claim competency. I would venture to say that what the instructor said might have more to do with authentication than appraising, although her point is that a generalist is not an expert in everything (which I agree with completely). However, just because one is a fine art expert doesn’t mean they can automatically do every piece of art either. Everyone has limits. You must confront them when asked to do an assignment and then decide if you can take steps to do the job competently. You must disclose those steps to the client and in the report.

Question: What role does provenance play in valuing an item? I had an inquiry about an appraisal for insurance replacement of custom tailored textiles made for political figures in a local history collection.

Answer: Great question. It would take a book to answer it. Provenance is a value characteristic of an item that the market deems very significant. One of the problems, however, is that for insurance coverage it is very difficult to put a replacement cost on the item since, in a sense, it is not replaceable. One can either compare the item to other items (parallel market) or estimate the cost to replicate/duplicate them if lost. The owner might want to insure them for the potential market value based on what similar items bring in the marketplace. For example, the opera glasses Lincoln used at the Ford Theater are just $200 opera glasses. They could be replaced easily. However, the exact opera glasses that he held in his hands brought over $400,000 when sold. If you were the new owner, wouldn’t you want them insured at $400,000 rather than $200? That’s provenance.

The Significance of Standards

By Todd Sigety, ISA CAPP

Last week, the president of The Appraisal Foundation (TAF), David Bunton, posted an article on the Huffington Post website about personal property appraising. ISA has been an active supporter of TAF for many years, requiring our members to follow and adhere to the Uniform Standards of Professional Appraisal Practice (USPAP) for even longer. After many years of supporting USPAP and participating on The Appraisal Foundation Advisory Council (TAFAC), in January of 2014, ISA became a full sponsor of TAF. In doing so, ISA is obligated to follow and adhere to the foundation's appraisal standards and qualification criteria.

The partnership between TAF and the personal property sponsors has been growing and gaining momentum through a collective process of developing further understanding of personal property essential elements. Through round-table discussions, intended user input, personal property only meetings, personal property task forces, updating of TAF website with a dedicated personal property resource page, and now this article, TAF and sponsoring personal property organizations reveal a strong commitment toward promoting professionalism and qualified appraisers. The publication of the article in the Huffington Post is important in the partnership with TAF, as it represents the intersection of interests, commitments and dedication of the foundation to the personal property community.

Members of ISA are all aware of the importance of USPAP standards, the 15-hour course, the exam and the update classes every two years. These important standards have been something ISA and our members have followed and embraced for many, many years. As a sponsor of TAF, in addition to adhering to USPAP standards, ISA is also required to follow the qualification criteria set by the Appraisal Qualifications Board (AQB). The criteria sets minimum hours for appraisal education, experience, and continuing education/requalification. ISA has been an active voice and advocate through membership in TAFAC, and as an Appraisal Foundation sponsor in developing – and now implementing – the new qualification criteria.

The new personal property qualification criteria are more than educational requirements, and the rationale behind advancing and promoting the criteria are central to the success of the profession. The qualification criteria are designed to advance the status and standing of qualified appraisers versus those who produce sub-standard work and are not qualified. David Bunton’s article in the Huffington Post is significant on so many levels, as it goes right to the core importance of standards and qualifications. As the title implies, What You Need to Know When Getting Your Personal Property Appraised, it seeks to inform and educate users of appraisals on what is involved in developing a professional, qualified appraisal report, while also informing on the importance of hiring an appraiser with the proper qualifications for credible assignment results.

In addition to ISA’s Appraisal Foundation activity, ISA has been both active and vocal in support of qualified appraisers, promoting our members and seeking excellence and advancement within the profession. ISA initiatives include:

• Partnering with allied professionals such as our affiliation with Chubb Insurance in promoting qualified appraisers and educating users of appraisers
  
• Developing the Circle of Trust (COT), the new coalition of ISA, AAA and ASA to promote qualified appraisers and the appraisal profession
  
• Meeting regularly with allied professionals, educational providers, our compeer organizations and the IRS to discuss appraisal needs from users, and to promote qualified appraisers and appraisals
  
• Hosting the finest personal property appraisal conference
• Growing educational opportunities, mentoring and online programs
  
• Developing and distributing marketing material for ISA members
  
• Promoting the ISA Affinity Business Partner program to develop contacts and network with allied professionals
  
• Partnering with the Foundation for Appraisal Education

The Huffington Post article written by TAF President David Bunton is one of the many important results from our partnership and cooperation with other professional organizations in promoting qualified appraisers. These relationships have become both valuable and significant to ISA from a strategic point of view to augment and enhance our ability to leverage our important message of promoting qualified ISA appraisers to the public.

If you have not already, please take a few minutes to read through the Huffington Post article by David Bunton. To the professional appraiser who follows USPAP and the important qualification criteria, it may not reveal much new information, as ISA has been engaged in promoting our members and the profession for years. However, to users of appraisers, such as collectors, trust and estate planners, wealth managers, accountants, insurance agents, bankers, accountants and other professional users of appraisals, it shows the importance of hiring a professional, qualified appraiser who writes and develops reports to the “generally recognized ethical and performance standards for the appraisal profession in the United States.”

Why 7 Days in Illinois is Totally Worth It

Appraising can be a daunting task, especially when it comes to fine art or antiques, but it doesn't have to be.

ISA’s specialty survey courses on Fine Art and Antiques and Residential Contents, both coming up this October, are the best way to learn the terminology and research practices for these types of appraisals. After seven days of hands-on, interactive instruction from ISA's most experienced instructors and respected certified appraisers, you will leave equipped with the skills you need to expand your appraisal practice.

Don’t miss ISA’s two upcoming specialty courses next month. Registration deadlines are quickly approaching!

ISA’s Appraisal of Fine Art Course
October 19 – 25, 2015
Northern Illinois University - Naperville Campus
Naperville, Illinois
$1,300 ISA members / $1,585 nonmembers
Course instructors: Richard Casagrande, ISA CAPP; Cathy Peters, ISA CAPP; and Meredith Meuwly, ISA CAPP
Registration closes October 9

Description: The Appraisal of Fine Arts course emphasizes the primary categories of fine art frequently encountered by appraisers and dealers: paintings, sculpture, works on paper, frames, and photography. Course participants will learn how to identify, research, and evaluate various forms of art work; distinguish various print processes, properly describe art works using the correct vocabulary; and will also receive an overview of art history and art conservation. A field trip to local museums provides students with close exposure to the property categories being studied. For those seeking accreditation, a post-course appraisal assignment is required, and an exam will be held on the final day. Breakfast and lunch each day is included in the course fee.

ISA’s Antiques and Residential Contents Course
October 26 - November 1, 2015
Northern Illinois University - Naperville Campus
Naperville, Illinois
$1,300 ISA members / $1,585 nonmembers
Course Instructors: Valerie Hale, ISA CAPP; Michael Logan, ISA CAPP; and Intern Instructor, Libby Holloway, ISA CAPP
Registration closes October 16

Description: The Antiques and Residential Contents Course provides information necessary to properly identify and value items within the broad category of antiques and residential contents. Focus is on skill building around analysis of construction and manufacturing; as well as identification of quality, age, and design characteristics of periods and styles. Concepts discussed in class will be reinforced with hands on exercises.  Research, identification, inspection and report writing tips for the appraiser are also discussed. Course sections include furniture (English/American focus), ceramics, glass, silver, toys and dolls, prints, books, textiles, vintage fashions and general household contents among others. The course includes an off-site field trip. For those seeking accreditation, a post-course appraisal assignment is required, and an exam will be held on the final day. Breakfast and lunch each day is included in the course fee.

And remember, successful completion of the Fine Art or Antiques and Residential Contents courses can be used as credit toward fulfilling the required classroom hour requirements for ISA accreditation.

Appraisal Organizations Unite in Campaign to Raise Profile of the Qualified Appraiser

As announced at Assets 2015 in Philadelphia, leadership and representatives of the three main appraisal organizations - The International Society of Appraisers, the American Society of Appraisers, and the Appraisers Association of America - have been meeting to discuss ways in which we might best work together in fellowship to protect and educate the public regarding meaningful qualification standards for appraisers.

On Monday, May 4, presidents of the three organizations released a joint statement to the media 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.”

ISA's participation in this effort has been endorsed by its Board of Directors as consistent with our mission: Advancing excellence in the personal property appraisal profession, and strategic goal of building ISA's industry standing through relationships with allied professionals.

The Appraisal Foundation estimates that approximately 80% of personal property appraisals are currently performed by individuals held to no standard of professional accountability. The intention of the "Circle of Trust" alliance is to collaborate on issues of importance to our industry and to promote public awareness and trust in our credentials.

In the press release, the three organizations strongly urge the public to verify the educational and experiential background of any 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 including charging for appraisals based on the appraised value of an item, or offering to purchase an item the appraiser has appraised.

ISA is proud of this ground-breaking partnership with our peer organizations, and looks forward working together to further this important initiative.   

Read the full press release.

A Call for Volunteers

Christine Guernsey, ISA CAPP

By Christine Guernsey, ISA CAPP

I have just reread President Cindy Charleston Rosenberg’s New Year’s Message. If you haven’t read it, click on the above link and prepare to be stunned by how far ISA has come in the last several years in terms of being an industry leader, guiding its members towards compliance with accreditations and industry qualifications, and helping its membership become (and stay) successful in an extremely competitive field. It is abundantly clear why ISA has become the premiere professional personal property appraisal organization of choice!

But just who is “ISA,” and how is it achieving so many amazing advancements for its members? “ISA” is not some omnipresent “wizard behind a curtain” or a large corporation complete with hundreds of individual staffers working 24/7 to make our members rich and successful. ISA is an organizational name. ISA is comprised of 800+ personal property appraisers, primarily throughout the United States and Canada. ISA is you. ISA is me. Together, we make ISA the organization that it is.

So how have all of these amazing accomplishments happened within the last few years? Because of the hundreds of volunteer hours that, currently, a small portion of ISA members have donated to the following projects and programs:

• Creating new marketing concepts, which are benefiting all of our members.
• Developing strategic partnerships with industry leading companies regarding the use of appraisal services, as well as who can refer business to our members.
• Finding and nurturing sponsorship relationships and monies which fund educational programming for members.
• Creating and teaching methodology and theory courses, pathways to accreditation courses, Requalification and USPAP courses, which members can take on site and online to keep their credentialing current, as required by The Appraisal Foundation. Our courses give members an edge on the competition that we all feel from the many other venues that provide “appraisal services”. Our courses are some of the best in the industry, and they help make our appraisers some of the best in the business.
• Providing an annual conference every year, which extends an opportunity to members to learn, network, and expand their appraisal opportunities.

Can you imagine how much more ISA could accomplish if all 800+ of our members donated even 10 hours a year?

There are so many opportunities to get involved with ISA and help keep our organization strong, healthy and create better business opportunities for its members. We all have special skills of one kind or another, and we all have at least 10 hours a year that we can give back to an organization that is working hard for each and every member.

Here are just a few opportunities which have an immediate need:

Is increasing membership important to you?

Our Membership Committee needs current members from all across the United States and Canada to help spread the word about ISA. Do you know potential members, individuals thinking about getting into the appraisal business that you can approach with the message of our organization? As a current member, you are the perfect volunteer to reach out and give them the "insider's" view of the advantages of ISA membership. This is a committee worth joining, one that will not occupy a lot of your time but that gives you an additional avenue for networking with like-minded folks.

Some specific areas that need help are reaching out to young auction, art and antique professionals who may be interested in adding appraising to their skill sets. We also need volunteers to work on member satisfaction and benefits.  If you are interested in volunteering to increase membership and member satisfaction, contact Judith Martin directly at Judith@theperfectthing.net or call 630-665-5200.

Going to Assets 2015?

Mo Aubry, BOD Liaison to the Membership Committee, is looking for a few friendly faces to help meet and greet new members and first-timers to conference. Remember your first conference? Remember how nice it was to have someone reach out and make you feel welcome? We have so many new and interesting members from all kinds of venues and backgrounds joining us. Help “meet and greet,” and make some new valued colleagues in the process. Contact Mo Aubry at marian.aubry@verizon.net or call (941) 544-6806.

Know a lot about appraising or have product knowledge to share?

Karen Rabe is looking for mentors to help share their wealth of knowledge with new appraisers looking for advice in developing their appraisal skills. I have personally participated in this program and can say from experience that mentoring someone is extremely rewarding! I have made several new friendships with appraisers from different parts of the country. With all our new appraisers' varied backgrounds, the mentor ends up learning as many new valuable tricks as the appraiser being mentored. Contact Karen Rabe at ksrabe@gmail.com.

How are your marketing skills?

Our Marketing Committee could use some volunteers who are savvy with social media and have good writing skills. We need detail oriented volunteers who can help to prepare, write content, copy-edit and place ISA promotional material (ex. publicizing ISA’s LMS and educational webinars) on social media sites. We want to use as many online avenues as we can to get the word out about the conference, our sponsors, and why ISA is the premiere professional personal property appraisal organization of choice. If you know your way around the Internet, this committee is for you. Contact Todd Sigety at toddsig01@gmail.com.

Are you good at fundraising?

The Resource Development Committee can use a few good "money makers." We have sold out of our sponsorship opportunities for Assets 2015 (amazing!), but we need members with good ideas and relationship skills that can help us maintain our sponsor relationships on a year-long basis. Our sponsors are very important to us. In addition to helping cover the many costs of our annual conference, they also provide monies that help us create new educational opportunities for our members. They work with our members in providing referrals, product knowledge and appraisal related services. Want to join this team as it heads off in exciting new directions? Contact Fred Winer at fred@pwpusa.com or call 410-337-0085.

These are just a few of the volunteer opportunities in the immediate future. We would love to have you join the ranks of our valued volunteers. Your participation helps ISA continue to grow and provide valuable member benefits for all.