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 sale 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 a member of 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 |