Revisiting the ISA Dealer Directory

Christine Guernsey,
ISA CAPP

At Assets 2018, we announced the new ISA Dealer Directory. This new directory connects prominent invited and vetted antique, jewelry, and fine and decorative arts dealers with our qualified ISA appraisers across the United States and Canada. The purpose of the Directory is to provide ISA appraisers and dealers with opportunities to facilitate appraisals, acquisitions, and the disposition of fine and decorative art as well as antiques and jewelry. This directory is a subscription-based service for dealers and gives free access of the postings to all ISA members.

View the Dealer Directory

The ISA Dealer Directory is an exclusive ISA member benefit. Only ISA members and subscribed vetted dealers have access to the Directory. It is completely private and not accessible to other appraisal organizations, non-subscribed dealers, or individuals. The directory is the first of its kind to be created by a professional appraisal organization.

The directory provides many unique benefits for our membership. Most importantly, the directory introduces our appraising members to leading dealers across the US and Canada. Using the directory, appraisers will discover top dealers along with the areas of collecting and selling in which they specialize. This creates opportunities to meet and build relationships with these featured dealers.

Whether we are in search of replacement cost information or have general questions about an artist, creator, movement, or market trends, working with dealers directly can give our appraisers access to current information they wouldn't normally find researching online. Asking price information for works in galleries or works which will be sold privately, usually isn't listed publicly. Calls have to be made to acquire this type of information. Dealers unfamiliar with an appraiser are often hesitant or too busy to share this type information. In becoming known as a qualified ISA appraiser and developing relationships with dealers who specialize in what you are appraising, you can gain valuable information about sales and market trends, discover unpublished asking prices and learn about private sales which will elevate the credibility in the final valuations of your appraisal reports. This alone can help you stand out among your appraisal competition.

Knowing which dealers specialize in specific areas of collecting and what items they are looking to acquire helps our appraisers add another service to their appraisal practice. Often appraisers are in the front line of knowing when their clients are thinking about selling something from their collection. This is especially true when we do estate appraisal or work with a client who has recently inherited something that they don't particularly want to keep.

There are many options for disposing of an item. Often these many options are confusing to the client especially if they are unfamiliar with collecting. Being able to connect your client with an appropriate dealer who can offer a fair deal, adds additional service for your client. The client is able to dispose of an item in an efficient and private manner, often for a higher sale amount and without additional fees. A successful transaction will make your client very satisfied with your services.

If you have clients who are interested in selling an item, be sure to log into the ISA member site and check out the Dealer Directory. Dealer requests change often. Our list of dealers continues to grow. If you know of a dealer you feel should be included in the Directory, please let us know so we can send them an invitation.

- Christine Guernsey, ISA CAPP, is recent past president of ISA and currently serving on the ISA Board of Directors. She appraises all areas of American paintings, works on paper, sculpture, and outdoor sculpture, specializing in 19th and 20th centuries.

Determining Value

Tim Luke, ISA AM, CAI, BAS, MPPA

An essential aspect of our valuation services and specifically in our appraisal practice is determining value. The Uniform Standards of Professional Appraisal Practice (USPAP) provides guidance in the form of a definition of value and a comment as follows, "Value: the monetary relationship between properties and those who buy, sell or use those properties. Comment: Value expresses an economic concept. As such, it is never a fact but always an opinion of the worth of a property at a given time in accordance with a specific definition of value. In appraisal practice, value must be qualified - for example, market value, liquidation value, or investment value."

This one definition is brimming with information and guidance in determining value, so let's take a look at the various elements of the definition. Looking at the first part of the definition, it states, "the monetary relationship between properties..." This means comparing the subject property with comparable items of like kind and quality. It is important to remember when comparing the subject property with comparable items, consideration of all physical characteristics and overall condition must be taken into account to establish a good relationship between the properties. This correlation between the various comparable items with the subject property helps to justify a value conclusion. If similar items under similar conditions are selling for X dollars, than it is reasonable to assume the subject property would sell for X dollars, supporting the value conclusion.

Continuing with the definition, "and those who buy, sell or use those properties." We take into consideration the context of the subject property and comparable properties. Does the subject property possess a certain provenance making it more desirable than other similar items? Is the subject property a rare example? Or was the subject property was mass-produced? This context provides a foundation for understanding the piece and its significance or lack thereof in the marketplace and will provide guidance in determining value. It is our job to understand if buyers are actively seeking out these properties and paying a premium, suggesting an uptick in the marketplace, or if the opposite is true, where there is a large supply and little demand, indicating declining value.

Take Victorian furniture for example. Knowing that the marketplace is inundated with pieces, causing a large supply coupled with a decrease in demand for such items, the values generally go down. However, each piece in an appraisal assignment is evaluated on its own to determine the monetary relationship between the subject property and comparable items to determine the qualified value.

The Comment after the value definition states value is never a fact because it is an economic concept based on an opinion as of a specific point in time in accordance with a specific value definition and must be qualified. The economic concept represents our value conclusion and is an opinion based on research of comparable items in the marketplace as of a specific point in time, taking into consideration the requirements of the value definition for the assignment. Our value opinions are qualified to indicate fair market value, retail replacement value, or other value depending on the assignment. These opinions are established at one point in time and are not to be used at any other point in time or for another qualified value.

In dealing with personal property, remember the various levels of trade for the huge variety of items you will be appraising. These levels include but are not limited to auctions, galleries, retail outlets, flea markets, consignment, garage sales, or the like. They will produce a variety of sales results and depending on the problem you are solving for your client, the selection of the proper marketplace is paramount in order to determine value and provide credible assignment results for your client.

- Tim Luke, ISA AM, CAI, BAS, MPPA has 28 years of experience in the auction and appraisal industry, and is currently the Executive Vice President, Senior Appraiser for Gurr Johns, Inc. based in Florida. He travels the United States doing appraisals, valuations, and brokerage for clients.

Tips for Writing a Great Appraisal Report

Libby Holloway, ISA CAPP

Members of ISA can give a wide range of answers when asked why they joined the organization. Popular answers are for networking, continued education, and taking advantage of name recognition. The less exciting but basic truth is that most of us joined ISA to learn how to write an appraisal report.

During the Core Course, students are instructed in what the required elements of a report are according to ISA and USPAP standards. Students practice developing the report by determining intended use and objective use, appropriate values to seek, and which markets to use. Checklists to help members include necessary information are provided, and students are required to present a successful report properly using these lessons in order to earn designations. Subsequent courses help members stay up to date on changes. Anyone with the designation of Member or above has all the information they need to write a good appraisal report - but do we all always follow through?

ISA does require that certain essential elements be included in reports created by members. After these elements are met, there is little direction in how they are expressed within the report. Here are a few common pitfalls (assuming the correct intended use, objective and approach to values are used) and how to avoid them:

• Adding confusing extra information. State the facts. In an effort to include required elements pertinent to the appraisal assignment, extra elements not needed for the intended use are sometimes included. This extra information can be confusing and misleading to the reader.


• Boilerplate boredom. I know it is easy to feel you've written the same report a hundred times but beware getting lazy with boilerplate text. Every assignment is individual, and nothing is more embarrassing than including information within a template that doesn't apply to the current client.


• Presenting correct information in a confusing manner. Following the order of items as they appear in the checklist might seem to cramp your individual creativity, but in reality, following the order helps you present information in a cohesive manner which makes it less confusing to your reader.


• Writing as if your client is a professional appraiser. Remember that your client, even if they are a collector or an attorney, is probably new to appraisal terminology. Make sure you fully define each concept within the cover document so that your reader understands what you are telling them. I suggest reading the completed report through your appraiser eyes to make sure it is compliant then through your client's eyes to make sure it is understandable.


• Making grammar and spelling mistakes. Make sure you properly edit your work or hire someone who can. Misspelled words and poor grammar dilute your report and give your readers the idea that you don't know what you are talking about even if you are an expert.


• Improper placement of the USPAP certification. ISA standards do not specify where the USPAP Certification must fall in the cover document. USPAP does require that it is signed by the appraiser/appraisers performing the appraisal. Put the statement in a place in your report where it is easily read and where your signature is affixed. It is fine to put the statement at the end of your cover document above the signature for the entire document. If anywhere else, it must have its own signature.


• Incomplete descriptions of items in the body of the report. Remember the rule of thumb that the reader should be able to pick out the item by your description whether or not a photo is included. Write the descriptions so that every intended user for the report can understand what you are describing. If you include a lot of descriptive terms that may be new to your user, include a glossary.


• Missing out on the bottom line. Your client is looking for the bottom line, don't hide it. Make sure you clearly express the values sought, markets analyzed along with their conditions, and make sure your values are easy to find.

In order to be seen as the professional you are, make sure that your report is a carefully prepared product. Never fail to check and re-check your final report no matter how anxious you are to collect the balance and move to the next project. Word of mouth is still the best advertising for your services and you want all those words said about you to be positive.

- Libby Holloway, ISA CAPP

USPAP Advisory Opinion 21: Valuation Services and Appraisal Practice

Meredith Meuwly, ISA CAPP
Director of Education

Your education team and I wanted to share some examples on how USPAP Advisory Opinion 21 applies to your business as you perform appraisals and valuation services. The examples below are taken from the USPAP FAQs, amended to relate to personal property appraisers, and explained how they affect you.

Example 1

Robert Agent is an individual who provides both brokerage and appraisal services. What are Robert’s obligations under USPAP when preparing a broker’s price opinion (BPO)?

Answer: USPAP provides flexibility for brokers/appraisers and others who have multiple professional roles.

If providing the service as an agent or broker, USPAP requires only that an appraiser must not misrepresent his or her role. In other words, if Robert was contacted by his client because he is an art consultant or broker and signing his report as a consultant or broker, then Robert need not comply with USPAP except to not misrepresent his role. If Robert is contacted by the client because he is known as an appraiser and is signing his report as an appraiser, then USPAP applies.

What does this mean for an ISA personal property appraiser?
Many ISA members wear multiple hats. You might be an art advisor, antique store owner, fine art gallery manager, estate sale person, auction house representative, broker, etc. The most important thing is that you let the client know up front what services you offer and how the services differ from one another. Once a client chooses a service, make it clear which hat you are wearing for that particular assignment. For example, if you offer art advisory services a client might hire you to advise them on what pieces of art to purchase for their collection. This assignment might involve market research, a suggested purchase price or price range for a particular item, negotiating a deal to purchase a piece of art, etc. In your role as an art advisor USPAP would not apply, except you could not misrepresent your role. However, if after purchasing the art the client then wants you to write an appraisal for insurance coverage you are undertaking a new assignment as an appraiser writing an appraisal. For this assignment, you must follow USPAP.

Example 2

Marie Vaughn has a diverse practice with a specialization in litigation services. She commonly aids attorneys in developing cross-examination strategies for expert witness testimony from appraisers. How does USPAP apply to Marie’s "litigation services?"

Answer: In order to determine Marie’s obligation, it is necessary to understand the nature of her role. If she is acting as an appraiser, her litigation services are part of appraisal practice. The PREAMBLE, the DEFINITIONS, the ETHICS RULE, the COMPETENCY RULE, and the JURISDICTIONAL EXCEPTION RULE will apply to the assignment. As an appraiser, Marie cannot act as an advocate for any party or issue.

If Marie’s services include providing an opinion of value, she must also comply with the appropriate appraisal standards (STANDARDS 7 and 8). If Marie’s services include providing an opinion about the quality of another appraiser’s work, the appraisal review requirements of STANDARDS 3 and 4 apply. If the service includes providing analysis, recommendation, or an opinion to solve a problem where an opinion of value is a component of the analysis leading to the assignment results, then Marie must comply with the ETHICS RULE, the COMPETENCY RULE and the JURISDICTIONAL EXCEPTION RULE for the entire assignment; and she must also comply with any applicable Rules and Standards if she performs an appraisal or appraisal review as part of the assignment.

On the other hand, if Marie provides litigation services as an advocate, then she is providing a valuation service outside of appraisal practice. When performing services outside of appraisal practice, Marie can act as an advocate and accept contingent compensation. The only USPAP obligation is that she not misrepresent her role. She must use care to distinguish her role from other roles that would carry an expectation of being impartial, objective, and independent, i.e., acting as an appraiser.

Marie may provide litigation services by either acting as an appraiser or acting as an advocate for the client’s cause; however, she must not perform both roles in the same case.

Plain English Please?
Sometimes, in the course of litigation, a judge will order an appraisal be performed of personal property. If you have been asked to provide an appraisal for litigation, then you must follow USPAP, specifically Standard Rules 7 & 8. Why? Because where the law requires an "appraisal" be done (for example, most states will require an "appraisal" by statute for probate), then you must act as an appraiser and follow USPAP. If you have been asked to review another appraiser’s appraisal report as an expert witness and submit that report in writing, you are also acting as an appraiser (See USPAP Standard Rules 3 & 4, the rules for Appraisal Review).

When acting as an appraiser, in either an appraisal or an appraisal review, you must maintain your neutrality. Being neutral does not mean that you cannot point out the flaws in another appraiser's report; in fact, that was what you were hired to do. Instead, it means that you must do so in a neutral and factual manner. If the other appraiser did not follow USPAP and claimed to do so in his or her report, simply state that. And, state how the failure to follow USPAP led to either flawed value conclusions or perhaps shows a lack of professionalism. Similarly, if providing values (i.e., an appraisal under Standard Rules 7 & 8), you can also remain neutral. One way to check yourself is to ask whether your final value conclusions would be different if you were working for the "other side." If your answer is no, then you are maintaining your neutrality.

Generally, if giving testimony or providing a written appraisal report that will be admitted into evidence, you should act as an appraiser and maintain your neutrality. First, expert witnesses are expected to be neutral. Of course, this does not always happen. But if the jury suspects an expert is acting as an advocate, their opinion will quickly be dismissed. Second, if a judge determines that the expert is acting as an "advocate" or "hired gun," the expert’s testimony will likely be disqualified. Finally, as an appraiser, and particularly as an expert witness, you have a reputation to protect. Every bit of testimony and every report that goes into a court can become part of the public record and available for anyone to see. That means when you get back on the stand in another case three years later, you should not be surprised if you are cross-examined on opinions that you gave in an earlier case. You cannot "flip" your opinion without good cause. The best way to do this is to remain neutral.

So, when would you be an advocate in litigation? In most instances you might act as an advocate (and NOT an appraiser) when you are acting behind the scenes and providing litigation services. For example, a law firm might hire you to give it opinions about an appraisal report, but not ask you to serve as an expert witness. An attorney might hire you to explain appraisal methodology to him or her and help draft cross-examination questions for an appraiser. Or, you might be hired to help one side develop a strategy for success in a complex case where the appraisal methodology might be particularly complicated. In these situations, you can act as an advocate. And, when acting as an advocate you CANNOT act as an appraiser because then you are not maintaining your neutrality.

Example 3

Chris Filo is an art appraiser and advisor who has an assignment to advise a client regarding a potential art purchase. The client has provided Chris with an asking price for the work. Chris has made the extraordinary assumption that the value provided is credible and will use that value as part of the analysis before making final recommendations. Which parts of USPAP apply to this assignment?

Answer: Chris must comply with the ETHICS RULE, the COMPETENCY RULE, and the JURISDICTIONAL EXCEPTION RULE for this assignment.

Because this assignment does not include an appraisal or appraisal review, neither the SCOPE OF WORK RULE nor the RECORD KEEPING RULE applies. In addition, there are no development or reporting standards applicable to this assignment.

What’s the message here?
Remember that if you are acting an appraiser and providing appraisal services (i.e. a valuation analysis without a full appraisal report), then you are still subject to the USPAP ETHICS RULE, the COMPETENCY RULE, and the JURISDICTIONAL EXCEPTION RULE. If you are an advisor and providing valuation services, then you must not misrepresent yourself.

Example 4

Jane Doe is an antique dealer who offers a variety of professional sales and advisory services to her clients. She is an antique dealer, consultant, authenticator, advisor, and is also a certified appraiser. Jane has been asked by a client to perform a service that is viewed by Jane and her client as a consulting service that relates to value, but is to be undertaken by her in the role of a broker/consultant, not as an appraiser. Which parts of USPAP apply to Jane in this assignment?

Answer: Individuals may fulfill different roles in different assignments. In general, USPAP applies only when an individual is acting as an appraiser. As long as it is clear that Jane is not performing as an appraiser, Jane’s only obligation when acting as a broker/consultant is stated in Conduct section of the ETHICS RULE, which states,


"An appraiser must not misrepresent his or her role when providing valuation services that are outside of appraisal practice."

What’s the take-home?
Remember that the "main purposes of USPAP are to protect the public and to promote public trust in the appraisal profession." This means that you must:

1. Make it clear up-front which hat you are wearing.
2. If you switch hats mid assignment, then it is a new assignment.
3. Properly advertise your services. If you currently advertise only as an appraiser, but perform other services, you should change how you are advertising your services. Why? Because if you advertise only as an appraiser, the public is calling you as an appraiser. If you then try to "switch hats," you will be misrepresenting yourself.

Meredith Meuwly, ISA CAPP,

Protecting Your Collection and Your Wallet: What You Could Lose If You Suffer a Loss Without an Appraisal

Kirsten Rabe Smolensky, JD, ISA CAPP

As an appraiser, I have worked on a lot of insurance claims, including losses due to fire, theft, transit damage, and flood. The number one mistake most insureds make is not being prepared in advance.

Imagine that your house has burned to the ground and everything inside it destroyed. The insurance company requests an inventory of EVERYTHING inside. Do you know how many kitchen pots you have? Shoes? Tools? Most people remember the large, expensive items, but forget numerous smaller items. These items add up quickly.

And, those large, expensive items? They may or may not be covered depending upon how your policy is written and whether you have the appropriate riders in place. Most insurance companies will require an appraisal to insure these items.

This article will help you prepare for a potential loss. Some steps you can take on your own, but others will require the assistance of a professional appraiser.

Understand Your Homeowner’s Insurance Policy

The biggest problem I see after a devastating loss is underinsurance, meaning that homeowners suffer a loss yet fail to recover tens of thousands of dollars just at the time when they have lost everything they hold dear. How do you prevent this?

Every insurance policy is different and you should work with your insurance agent to understand how your policy works. However, there are a few common traits most homeowner’s policies share. If you understand these commonalities, you can ask the right questions to ensure that your coverage is adequate.

Take steps to insure your home - and its contents.

Most homeowner’s policies have a total coverage limit for household contents that is based upon a percentage of your home’s value. For example, if you have a $400,000 home, you might have 50% in personal property coverage ($200,000) or you might have 75% in personal property coverage ($300,000). You need to know what that amount is and feel confident that you can replace every item of personal property in your home, from fine art to furniture to clothing, for that amount. If you are buying furniture from designers, have some nice rugs and fine art, or are a collector, these limits can be easily exceeded. If you have expensive tools or lawn equipment in your garage, you should also consider those items.

Next, even if that limit appears sufficient, your policy may have special limits for certain categories of items. Most homeowner’s policies have dollar limits on jewelry, fine art, rugs, silver, collectibles, antiques, guns, etc. The limits generally range from a few thousand dollars to $5,000 or $10,000 per category. However, if you have two or three nice rugs or pieces of fine art in your home, you can quickly exceed those limits.

For example, assume that you have three nice, original paintings in your home. You inherited one and are unsure of its value, you purchased one ten years ago for $3,000 and you recently bought a third painting for $4,000. At this point, you know you have at least $7,000 worth of fine art. If you have a $5,000 special limit on fine art, you will need a rider adding coverage to your homeowner’s insurance. Otherwise, in the event of a loss of the three paintings (and any other fine art you may own) you will only be reimbursed up to $5,000, regardless of the total value of the paintings. So, if the inherited painting turns out to be worth a fortune, you just lost it. Adding a rider, or additional special coverage, to your homeowner’s policy will protect against that loss. And, it will often require a professional appraisal of the paintings in advance. Understanding your policy and making sure you have adequate coverage is crucial to protecting yourself against such unanticipated losses.

Be sure to keep track of all your antiques and collectibles,
not just fine art.

The most common mistake that I see clients make is that they remember to get their jewelry appraised but forget about their rugs, silver, antiques and collectibles. Make sure you ask your insurance agent the right questions and fully understand your homeowner’s policy.
I recommend having a conference call with an appraiser and your insurance agent so that everyone can be on the same page as to which items need to be appraised. Many competent, ISA-trained appraisers can help facilitate a discussion with your insurance agent to ensure that you get the necessary items appraised and properly insured.

Create an Inventory

Create an inventory of items that you own. This can be done on your own or with the assistance of a professional appraiser. A written, photographic, or videoed inventory can mean the difference between coverage and non-coverage.

The purpose of an inventory is two-fold. First, it proves to the insurance company that the items existed and were in your home. Second, a good inventory will provide details about the items (type, style, quality, condition, brand, etc.) that will ensure accurate replacement should replacement become necessary.

If you do not want to do this yourself, or fear you may not know what information to capture, many appraisers will create an inventory for you. If you know you have valuable items that will require a rider, then ask the appraiser to create an inventory for you while they are already on site appraising your other items.

Take stock of all the contents of your home and garage -
You may be surprised at how much you own.

Many appraisers can photograph every room of the house in an organized, orderly fashion that is easy to follow, and focus on the more valuable items. Appraisers generally have a good eye for value and quality and will know what objects to focus on and what types of photographs to take, but we never want to miss anything that is important to you. Make sure that you point out items in advance that you know are particularly valuable or important to you so the appraiser knows what to capture.
Photographic inventories can be invaluable in the event of a loss, and I generally recommend clients store photographs on a flash drive (or two) and keep at least one flash drive off site in a secure location.

Keep Good Records

For those expensive purchases, including jewelry, fine art and the riding lawn mower in the garage, make sure that you keep receipts. Insurance companies will often ask for proof of purchase price for expensive items, particularly if they are not listed on a rider prior to the loss and/or you paid cash for them. Keep copies of the receipts in a secure location offsite or digitize them and save them in the cloud. Alternatively, you should be able to look up major purchases on your credit card statements. Insurance companies will often accept those records as proof of purchase.

For items such as fine art or an important antique, keeping the receipt may also help prove provenance. Provenance is an item’s record of ownership that is often used to help determine authenticity, quality and ultimately value. An item with a good provenance often has more value than an item without a provenance. Keeping good records should become a habit whenever a substantial purchase is made.

If the Worst Happens

Unfortunately, claims sometimes happen. Here are a few things you should keep in mind if you need to file a claim:

1. File your claim as soon as possible. Do not miss the deadline for notice. If you do, you may not be covered.
2. Make sure that when you file a claim it is as complete as possible. If you’ve had items damaged in a move, take an extra day or two to make sure you’ve listed EVERYTHING as long as it won’t cause the claim to be late. If you find items later and add them to the list, it may look suspicious.
3. When asked how old an item is and what was paid for it, be honest and reasonable. When possible support your statements with receipts and/or credit card statements. If you are unsure how much was paid, just say so and explain why. Perhaps the item was a gift or it was inherited.
4. Once you open a claim, keep a file for that claim. The file can be electronic or printed, but it should include all correspondence, any photos, any receipts, all emails, etc. Ideally, you should also keep a notepad handy to record every verbal interaction with the insurance company. Include the date of any call, who you spoke to, what was discussed and how long the call was. Keep a copy of the insurance policy handy too. If you do not have one, ask for it. If you need to hire an appraiser, it may be helpful for the appraiser to see the policy. This will let them know the type of policy and any special limits, etc.

What You Should Do TODAY

Call your insurance company and make sure that you understand your policy. If you have items that need to be put on a rider, call an ISA appraiser and have them assist you in:

1. Figuring out which items should be appraised 
2. Creating an inventory
3. Writing an appraisal for high-value items.

A little bit of work up front can save you LOTS of time, money and frustration should the worst happen.

Kirsten Rabe Smolensky, JD, ISA CAPP is the owner of Minerva Appraisal, LLC, a general personal property appraisal firm offering a full range of professional appraisal services in the Nashville, TN area. She appraises antiques, fine art, silver, furniture, ceramics, etc., and considers herself a "general contractor" of appraisal services.

For more information on the importance of working with a credentialed ISA appraiser and to search for one by location or specialty, please visit the Find an ISA Member page.

Would you like to be an ISA blog contributor? Email us.

In Praise of ISA's Job Board

Christine Guernsey, ISA CAPP

I knew that the ISA Job Board was a great idea, but didn’t realize I would be able to utilize it so quickly. Like many of you, I am the sole proprietor of an appraisal practice. I consider my practice successful, but yet, there are always moments of feast or famine throughout the year.

This year has been unusual for my business in that every large collection and important client I have ever appraised for has come back with another need. If I did insurance for them several years ago, they now need an estate appraisal, they're donating a work of art, or they need another insurance update. As appraisers, no matter how busy you become, you never want to say "no" to a great returning customer and risk losing them in the future.

When a past client and now a trustee called early this March with a need for an estate appraisal for his father’s very large Western art collection (over 300 works), I panicked. In addition to Assets, a planned surgery right after Assets, my youngest daughter’s destination wedding in Charleston, and several other appraisals in the works, I really didn’t have the time to take on this new assignment….but how could I say no?

I decided to try the ISA Job Board and see what kind of help I could get. After posting for temporary research help, I received applications from six candidates. Out of those six, I found three appraisers who were familiar with Western art and working towards ISA accreditation and therefore needed qualifying hours of experience. None of this help came from the Dallas area and all work was completed remotely online. I have a template I use for appraisal report work descriptions with sections for comparables which I sent to each appraiser. They researched 10 works at a time, completed the template and included appropriate comparables for me to review and determine the final fair market value for the report.

With the help I received through the Job Board, I was able to complete the appraisal project under deadline while relieving my workload and stress. I also got to assist three appraisers who needed work experience in the field. For the next large job that comes my way, I plan on using the Job Board again. It is great to finally have qualified help on a temporary contract basis and the process could not have gone more smoothly.

Don’t just take my word for it. Your colleagues have had similar great experiences:

Wendy Gerdau, ISA CAPP, of Treasures Estate Concierge Services, California:

"The ISA Job Board has been a fabulous tool for my company. The researchers that applied for part time jobs have turned into full time valued members of the Treasures Estate Concierge Services family. I am looking forward to hiring many more individuals from the ISA Job Board. There is nothing better than ISA members supporting each other, a win-win." 

Linda Matthews, ISA, of Matthews Gallery, Santa Fe, New Mexico:

"The job board provided me a great opportunity to be a part of a massive art appraisal project, learn a great deal from a CAPP appraiser, get paid for what I love to do AND add a 130 hours towards my AM pathway. A veteran ISA appraiser posted the job, I replied to the ad and was hired. It was that easy! It was a fast way to find work, make money and most importantly learn from others so I can become a better appraiser. It was my first experience getting appraisal work from the job board posting but it won’t be my last!"

Suzanne Houck, ISA CAPP, Houck Asset Verification, Virginia:

"I wish there had been a job board targeted to the appraisal industry when I began my appraisal practice years ago. I love having the opportunity to scan for job opportunities in slow times and to have confidence when looking for help during times of appraisal overload. Even if I’m not looking to post or pick up work, I have enjoyed reading the job posts because I can often connect good candidates who might not have seen the board yet with positions. When looking for help, just knowing my fellow ISA members are reading the board gives me added confidence that I am targeting appraisers well- trained in appraisal methodology and ethics. This job board might be my favorite member benefit!"

Richard J. Meliska, ISA AM, Essex Estate Services, Evanston, IL:

"The ISA job board is a snap to use and postings couldn't be easier to enter. This is my second time using the board and I am looking forward to posting positions as I need additional help. Not only does the ISA have a great pool of talent, but the networking opportunities to find great talent is wonderful." 

If you are temporarily overwhelmed with assignments you couldn’t say no to or are currently underwhelmed with assignments and want to pick up a few extra hours, check out ISA’s new Job Board. You can advertise for ISA qualified help or promote special services you can provide to other appraisers in need. One of the great features of this online benefit is the ability to sign up for alerts when a new position or request is posted.

This is a great new member benefit exclusively created for our ISA members. I urge you all to try the Job Board. It will help you all to accept more assignments and provide further opportunity to meet and work with other qualified ISA appraisers.

- Christine Guernsey, ISA CAPP

The Top 7 Reasons to Take a Course on Chinese Decorative Arts

Susan Lahey, MA, ISA AM

This summer, I have the pleasure of teaching a course for ISA on Chinese decorative arts from the ancient to the contemporary.

The course takes place June 21-23 in Sarasota, Florida, with a field trip day scheduled at the beginning of the course followed by two in-classroom days. The course will help appraisers become familiar with a wide range of Chinese decorative arts, including jades, bronzes, snuff bottles, cloisonné, ivories, textiles, lacquerware, and ceramics. Context and history are key elements of the course, as we will discuss how Confucianism, Daoism and Buddhism shaped the aesthetics of Chinese art, how the decorative arts evolved through dynastic and Imperial Chinese history, and what the current art market looks like and how to identify fakes. 

If you haven’t registered for the course yet, sign up on the ISA website!

A decorative jade vessel

On the course’s field trip day, participants will take a special tour of the John and Mable Ringling Museum of Art in Sarasota, as there are two special exhibitions visiting there in June. The first is Eternal Offerings: Chinese Ritual Bronzes from the Minneapolis Institute of Art, showcasing nearly 100 Chinese bronze objects used to conduct religious rituals, record significant events, and represent elite status from the Shan through Han dynasties (1600 BCE to 220 CE). We will also visit the exhibition Circle of Animals/Zodiac Heads, an outdoor collection of 12 bronze sculptures by one of the most renowned Chinese sculptors and installation artists, Ai Weiwei. 

Ai Weiwei's Zodiac Heads

In addition to these two special exhibitions, we will also visit the newly-opened Center for Asian Art at the Ringling, which permanently houses more than 2,000 examples of Chinese ceramics and traces the history of Asian art and culture from the Mediterranean and Eurasia to the New World through the Silk Road and trade development. Objects in this collection emphasize the dialogue between the ancient and the contemporary in Chinese art, such as a 19th century limestone scholar’s rock flanked opposite Zhan Wang’s 21st century stainless-steel Artificial Rock #124.  

Dragon detail from porcelain object

Don’t miss your opportunity to take a tour of outstanding collections of art and develop a strong knowledge base around Chinese decorative arts. 

With that, I present to you:

The Top 7 Reasons to Take a Course on Chinese Decorative Arts

1. Have the opportunity to handle bronzes, jades, textiles, ceramics, cloisonné and more examples of Chinese decorative arts
2. Learn strategies for identifying fakes
3. Understand how Chinese art and philosophy impacted Western art
4. Enhance your appraisal and research skills through learning about resources, dealers and the current market and collecting trends
5. Learn about manufacture techniques for good, better, best distinctions in all media
6. Broaden your horizons. As they say, “Every generalist appraiser should also develop a specialty.”
7. Connect with appraisal colleagues while in sunny Florida!

What are you waiting for? Sign up for the course today!

Scholarships for ISA’s education courses are available through the Foundation for Appraisal Education, with applications due May 1. There is also a $200 discount available for those who register for both the Chinese Decorative Arts course and the Appraisal of Japanese Prints course in Sarasota this summer. Contact ISA headquarters at 312.981.6778 to receive this discount or for more information.

- Susan Lahey, MA, ISA AM

ISA Means Business! Part 2: Fantastic Apps for Startups

By Marian R. Aubry, ISA CAPP

So many apps; so little time. And yet, they can be effective tools when it comes to both cutting down on the required time for certain tasks and broadening our efficiency. When trying to determine which ones make sense for your business needs without breaking the bank, one can often feel overwhelmed. (And when you're running a business, how much time do you really have to surf for apps?) A recent survey that utilized the efforts of business startups, PC magazine blogs, CNet and even the Wall Street Journal has come to the rescue. Here are a few apps that they have recommended for those starting their own business.

1. Google. ...Well, actually, if you don't have Google, you should probably go back to sleep. Google is, among many other things, a startup's lifeline. It will take time to learn everything that this app has to offer, but it is well worth the time spent. Google Photos, for example, is as comprehensive as you are likely to ever need while doing practically everything that basic Adobe Photoshop does. True, Photoshop has more bells and whistles, but if you aren't utilizing extensive filters and cartoon captions, Google Photos is a fantastic platform that will help you complete your picture editing without the burden of a heavy price tag. Other offerings from Google include Gmail, Google Drive for storage, Google Docs for shared or community-created files, and Google Analytics to determine your marketing effectiveness. Google is a bargain.

2. Dropbox. This keeps everything—from your files, your photos—in an online "cloud" for safe electronic storage. When your computer decides to crash (and trust me, it will), all you need to do is find another computer, access your Dropbox from there and continue business as usual. Think of it as a life-saver in the cloud... kind-of like a computerized guardian angel. The first 2 Gigabytes of space in the "box" are free, and additional storage space can be purchased for $10 a month. There are other cloud services out there, but Dropbox has been repeatedly cited by business sources as being the easiest option for start-ups. And I think its 500 million users would agree.

3. Money Management Apps. Managing money is a necessary evil, and managing the accompanying paperwork is equally so. Apps like Mint and Wave allow you to scan invoices and receipts, keep track of them instantaneously, and send to third parties when necessary. They categorize your scans, develop spreadsheets and provide reports that help you see where you're headed financially. Mint has a GPS tracker that helps you clock mileage and add it to your expense information. Wave allows you to accept payments right on your phone. And both apps are offered for free.

4. Archival Apps. CamScanner, ShoeBox, and Tiny Scanner (as well as some Google apps) scan receipts, business cards, offer mileage trackers, and digitize and store all of these docs for organizing later. For research projects, or for those times you find an interesting article but won't have time to read it until later, an app that archives your internet for later perusal is a wonderful one to have. Pocket and Orbital Warehouse are two such offerings, both free. Orbital Warehouse, for instance, even allows you to send specific research to dedicated folders.

5. Microsoft Office. Well, it did come with your computer, after all. Like Google, it is worth the time spent to fully explore the many programs that are included in the Microsoft package. There are a wealth of templates on Microsoft Office that can be time savers, as well.

6. LastPass. If memory serves you... and often it doesn't... there is no more welcome app than a password saver. LastPass is a free app that stores and encrypts all your passwords. No more guessing. No more secret questions. No more remembering if it was upper- or lowercase, or which pet really was your favorite. Think of it as a butler for your passwords. LastPass was voted an Editor's Choice by PC Magazine for 2016. And, oh yes, it is also free.

These are just a handful of apps that will streamline your business-related efforts and give you a more efficient professional experience. Got an app you love? Tell us about it in the comments below!

This is the second part of an ongoing series known as ISA Means Business!, a program created by the ISA Membership Retention Committee that focuses on helping members create and maintain businesses that stay up-to-date and thriving. If you haven't yet, make sure to read the first installment of the series.

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: When a personal property appraisal has been done for an insurance coverage, how many years before it needs to be re-appraised?

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 have a question for you. When a personal property appraisal has been done for an insurance coverage, how many years before it needs to be re-appraised? And would a new appraisal raise the amount of the insurance premium?

Answer: Insurance coverage appraisals are done to provide adequate coverage of personal property either not covered under a standard homeowner policy or to establish a set amount of recovery in the event of a loss. The insurance company uses the amounts to set premiums to that end. Since most policies are in effect for one year, the amounts will remain in place for the stated amount until the anniversary when a new policy is issued or renewed. At that time the owner may wish to revise the coverage if a new appraisal is done, but most slide along, using the same figures assuming their coverage is still adequate.

If the economy or the markets are stable, this has proved to be somewhat acceptable, although not ideal. One can continue using the same appraisal amounts until the insurance company requests an update or they themselves institute a change. As far as I know, most insurance companies have their own internal standards for how long an appraisal can be utilized. (I’ve heard of people using the same appraisal amounts for up to seven years before changing.)

If there is industry guidance, it seems to be that three years is a good allotment, although, I haven’t seen this in writing. This makes sense in a slow moving economy where prices are rising only slightly per year. It does not make sense, however, in a volatile or fluctuating market where prices are rising or falling due to many reasons. If the market is widespread, such as the downturn in 2008, it would be wise to suggest an appraisal update on almost every item. On the other hand, if only some of the items are affected, then only they need to be appraised. For example, silver prices may fluctuate wildly and coverage amounts from a year ago may not be sufficient today, or vice-versa. Certain art may escalate rapidly due to the death of an artist, special gallery showings, or record prices at auction. It would be prudent to revise those appraisals as well.

Some insurance companies now have in place special coverage which will actually pay a homeowner up to 150% of the stated coverage amounts in the event of a loss. Others may increase coverage amounts on an annual basis at a stated amount. It might be wise to advise your client to check on their type of policy and how coverage is handled.

The best advice is to have clients check their coverage and appraisals every year, even if no revisions are made or suggested. Most will not.

An updated appraisal does not necessarily mean higher premiums – even if the stated amounts have risen. The insurance company may have changed their rates and lowered certain categories. They may have lifted restrictions. They may have designed new pricing features and add-ons. One never knows.

If I were an astute appraisal marketer, I would probably design a letter to go out automatically at the anniversary of every client’s appraisal suggesting that a review be undertaken. This would provide assurance that coverage amounts are adequate, that any additions or deletions are noted, and that the cost of such an update would probably be a lot less in the long run than having to do an entirely new appraisal in 5, 6, or 7 years. Hope this helps. I would welcome other suggestions.

5 WAYS TO MAKE A BETTER REPORT

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.


There are always ways to make a report better, whether in content, form, or persuasion. A better report is one that is readable, easily understood, and conveys the answer to the client’s problem in a meaningful way. Read my latest ISA Now blog post for five suggestions to consider when improving the transmission of the appraisal.

1. Clarity
A report should be clean and orderly, both in textual content and in appearance. It should clearly state the client, the intended use and users, objectives, and all the elements on the ISA checklist. Whether a report is narrative, like a letter addressed to a client, or a chart type form with repeated boxes or tables for information, it should flow in a logical and methodical way.

Any intended user of an appraisal report should be able to understand what the appraiser did and what steps were taken to reach the final value conclusion. The scope of work should be addressed sufficiently so that even the research and analysis performed will be evident.

Clarity involves the written report appearance as well. It should follow grammatical rules and be free of punctuation and spelling errors. The numbers, when given, should be plain and not confusing. Parts of the report should be labeled and follow the steps of the process from beginning to end.

2. Headers or Footers
A report can be custom tailored for every assignment. This includes a unique header and footer with specific information that identifies the report. Some use a footer to include company and client name, effective date, addresses, emails, and phone numbers. Due to the ease of word processing programs, these effects are no longer difficult or time consuming.

3. Report Segments
It is relatively easy to construct an ISA report that includes a cover section, a body, and an addendum. Although we do not normally label these segments, it is wise to differentiate between them in the text. Starting a report with the appraiser’s qualifications is usually not a good idea since it is part of the addendum. Addendums, for a very good reason, normally fall at the end.

The USPAP/ISA certification is part of the cover segment of a report. It can follow the itemization and valuation, but should be labeled to separate it from the rest. Often it is included in the narrative as the ending to a cover segment. Remember that the cover section is appraisal specific. The body is item specific.

Use the addendum in an expanded fashion. It is a great place for an item-specific glossary, a grading scale, artist biography, and supporting documentation. It would not be out of line to have an addendum that contains more pages than the rest of the report.

4. Photographs
Photographs are not a requirement for any report, even an IRS one (the taxpayer is only responsible for providing a good photograph of an item for donation if it is over $20,000). However, particularly in an age of digital photography, you should include photos whenever possible.

Learn to use your camera well. Make every attempt to deliver sharp and realistic photos, including close-ups of signatures, hallmarks, and specific identifying characteristics. Use white space to enhance the presentation and label the photographs when possible. Put them in the body, next to the item description. If one is using comparable sales and a reasoned justification, adding pictures of the comps is extremely beneficial. Do not cut corners using photography.

5. Avoid Needless Repetition
Many appraisers use templates. Some templates are not appropriate for all intended uses and may contain information not required or useful in a specific circumstance. Proofread your reports and delete unnecessary and/or duplicate information. This is particularly true when people try to follow checklists and often duplicate material to ensure it is present.

Five Points to Consider When Choosing a Frame for a Painting

Eli Wilner

By Eli Wilner & Company, ISA Affinity Business Partner

"Frames have a lot of power to influence our appreciation and interpretation of a painting," says Eli Wilner, founder of Eli Wilner & Company, a New York-based gallery responsible for frames found in homes across the world, as well as at the Smithsonian American Art Museum, Metropolitan Museum of Art, and the White House. But before selecting a frame, you need to make sure it's the right one.

Most essential, according to Wilner, is historical accuracy. "A frame should reflect the period of the painting," he says. "I want to imagine that I'm the artist. I've just completed the painting and gone to my favorite framer. How would the artist approach the design? That's how I make every decision, whether it's for Rembrandt or Corot or John Singer Sargent." Also important: does the style of frame complement the painting itself? "Aesthetic consideration is crucial. After I narrow it down to the type of frame an artist would use, I look at the scale, decorative elements, and color that enhance a particular artwork."

To illustrate what you should keep in mind the next time you're ready to frame, here are Wilner’s thoughts on how to pair an appropriate frame with a few examples of 19th Century European art.

Figure 1 -
"The Tambourine Girl,"
John William Godward

History
"I do not know a single major painter who did not spend a significant amount of time thinking about his frames. Even van Gogh, who had no money, made his own frames and painted them to match the piece inside. Godward (figure 1) saw himself as a Renaissance painter and in that style and tradition, wanted to create the same feeling of importance and religious experience that he saw in church altarpieces traveling throughout Rome and Florence. Since that was his design, that is the only way a Godward can really be appreciated. If you put his painting in a lesser, simpler frame, the work loses the true, holistic meaning that Godward meant to convey."

Figure 2 -
"Priaries Inondées Vue a Travers la Feuillee,"
Jean-Baptiste-Camille Corot

Taste
"Although I usually frame as if I were the artist, 10% of the time I frame as if I were the collector. I occasionally like to throw a curveball. Corot mostly used fluted, quiet 19th-century frames, but the more elaborate 18th-century approach (figure 2) is very popular and how you'll see Corot framed in many museums and private homes. The soft carving in the frame works very well with the composition."

Figure 3 -
"Marchande de Fleurs à Londres,"
Jules Bastien-Lepage

Scale
"There's no general rule when it comes to scale except that you should avoid over-framing and under-framing. Everything else depends on the aesthetics of the individual artwork. Here is a portrait of a modest flower-seller in late 19th-century London (figure 3), so I felt the frame needed to be restrained. A thinner frame would have looked too slight on the large canvas, while a thicker one would have been too grand for the subject. It's all about balance. When you put a sculpture on a pedestal, the same considerations have to be met. Ask yourself: Is the frame too wide, too delicate, too overpowering, or just right for the piece?"

Figure 4 -
"Marchand Ambulant au Caire,"
Jean-Léon Gérôme

Decorative Elements
"Because of its exotic subject matter, I chose an Orientalist frame for Gérôme’s painting (figure 4). The decorative marks, similar to what you'd see in the Middle Eastern wing at the Met or at the Alhambra Palace in Spain, puts you into the mindset that you're in the Middle East. Yes, a 19th-century French frame would technically work. But this frame changes your perception and shows the context that a frame can bring to a work of art."

Figure 5 -
"La Marchande de Fleurs - Rue de Rivoli,"
Louis Marie de Schryver

Color
"This is a very pretty and charming picture (figure 5), so I picked a bright gold frame to echo the happiness of the scene. I wanted to turn up the dial on the beauty of the flowers and patterned fabrics by making the frame as opulent as I could without going overboard. Again, you have to let the painting speak."


Images: Courtesy of Sotheby's. Images of Frames: Courtesy of Eli Wilner & Company NYC

Ask Leon: What is correct in determining fair market value?

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: The past three reports graded for D&R all used solely auction results for determining fair market value. The existence of a valid retail market was totally ignored. What is the current teaching of the concept in the core course?

Answer: The IRS definition of fair market value for an estate (Section 20.2031-1(b) adds the clarification that the determination should not be based on forced sales, markets other than that which such items are most commonly sold to the public, and takes into consideration the location of the item when appropriate. If items are most commonly sold to the public at auction then that would be the appropriate market. Many items, however, are sold in various markets. It is the appraiser’s responsibility to select the correct market and substantiate the value. Auctions are often used not because they are the most common market but because they are easy to locate and have published transactions. A dependence solely on auction sales is not correct. Where the most common market is retail every effort should be made to use those sales in the final determination. This is probably more likely in the fields of art and/or jewelry/gemstones than in normal used furniture and decorative art. Be aware that the IRS has written that even sales resulting from classified ads are acceptable.

Books, Books and more Books

A few months ago I was sitting in my office looking at the amount of books I had in the bookcases. I knew that they were only the books that were out on the shelves, and there were more in the drawers and under cabinets.   It seemed so overwhelming for some reason and I got to thinking about the need for books in my world today.  I was actually considering selling some, giving some away or even tossing some of the price guides I seem to have the need to hold on to forever.  I could clean my office, it would look like a human being worked here and that being (me) had a head on their shoulders.   But as things seem to go, I didn’t get around to cleaning off the bookshelves that particular day or week and there they stayed.

Thank Goodness.

 In the past two months I have had to do valuations that involved many pieces of property.  One project had over 500 pieces which had to be identified, evaluated and valued.  That is quite a few pieces of property to cover.   The problem with this project was that many of these pieces were Victorian and early 20th Century glass.  Now, you see where my books came into play.  Luckily I have loads of good books on glass and I needed almost everyone on the subject of this type of glass.  I needed to identify the glass if it was Hobbs, Fenton, McKay, Westmoreland, Wavecrest, and on and on.

Sure you can go to the internet and do your identifications by clicking and clicking, saving, printing and reading.  But you know sometimes that takes more time than sitting with your stack of books, opening to the pages you need and doing some actual reading.   Good books have great information and they can answer a mountain of questions before you start to make mistakes that you don’t even realize you made until it is too late.  For example,  how to tell if the milk glass is an original 19th Century or a reproduction.  Or, is that unmarked painted butter dish by Northwood? Is that Tiffany candlestick complete or is something missing?

I know it might not appear that most glass items from the 19th Century are very important in today’s marketplace.  But, you know they are to those who collect and cherish these items.  If they are some ones parent’s collection and you have to help them divide the property you better be on target as to what you are looking at before you start to value.  It can be overwhelming at first but when you find your rhythm you start to move along pretty quickly.  Once I found the type of glass I was valuing, finding the values was rather easy and quick.

It is not just glass that causes this kind of problem, it can be lamps, figurines, vases,  pottery and all sorts of decorative items that somehow are stored in the estates I work with.  After all these years of looking at things my brain can only hold so much at the ready and sometimes it needs a reboot.  Thank goodness for my books . When I go to them, they trigger that particular file in my brain database and automatically refreshes my knowledge that I know I had somewhere in that flash drive otherwise known as my mind.  

So my word of caution is this – be careful when you clean out your library, the one you give away or sell might just be the next one you need for your project.

Judith Martin, ISA CAPP