Accurately determining the value of an oriental rug requires in-depth knowledge of carpets as well as an education in the skills involved in valuation.
The image many people currently have of an appraiser is of an expert on a television show telling someone that the picture from their grandmother’s attic is worth thousands of dollars. These verbal approximations of value provide useful information, but are far removed from a written appraisal report.
A written appraisal by a qualified appraiser consists of researched, documented facts supporting the value conclusion. This includes taking into account comparable sales, market trends, and forces influencing the market. Also considered are the reasons a client is requesting the appraisal. For example, the need to sell a carpet quickly compared to an orderly sell over a longer time period would result in a different valuation. A qualified appraiser understands the appropriate market to research in each case.
There are many functions that could require written appraisals including:
- IRS tax obligations – for probate and estate tax, or charitable contributions over $5,000 written appraisals are mandatory.
- Insurance – to provide coverage or to assist in settlement of a claim
- Equitable Distribution - used in divorce or distribution of an estate
In addition to providing written appraisals, Pamela provides qualitative assistance related to Oriental Rug selection and purchase.
Pamela Hiller is an accredited member with the International Society of Appraisers. In addition to being a specialist in oriental rugs she was required to pass rigorous tests in appraisal theory, appraisal research, ethics and report writing. The ISA is a recognized professional organization in the field of personal property appraisals.
Petaluma, California ♦ (707) 789-0784 |