An antique appraisal can help you determine the value of your item at a certain time. However, there are many different variables that affect the appraisal, which is why the cost can vary. Nevertheless, an appraisal service is professional and will give you the value of your antique in no time.
So, if you want to know the cost of antique appraisals, you are in the right place. Here is everything you must know.
How Much Should An Antique Appraisal Cost?
When you commission an antique appraisal, you are paying for the skills, knowledge, and expertise of the appraiser. Remember that appraisals are not affordable, and you will not get a good appraisal for free. An antique appraisal’s average range can vary between a few hundred to a thousand dollars.
Besides that, some appraisers also charge a consulting fee to look at the item even if they don’t take the appraisal. Most appraisers will charge by the hour, and their rates can vary anywhere from $100 to $300 or more. Some appraisers also charge by the item or have a flat fee.
In the end, it depends on the appraiser, which is why you will have to do your research. Once you do, it will give you a better idea of how much appraisers in your region will charge for the antique.
What Are You Paying For?
When you order an appraisal, you are paying for more than just determining the value of the item. That is because a full appraisal comes with a detailed report that includes the reasoning and method that determines the value of the item and the reason for the appraisal. As a general rule of thumb, a qualified appraiser will follow the USPAP (Uniform Standards of Professional Appraisal Practice).
Keep in mind that your appraiser must take out the time to explain to you how they appraised the item and why they did what they did. Once they explain and sign on the dotted line, it means that they stand behind their work. So, you are paying for the skills, expertise, and a detailed report of the item in appraisal.
Factors That Impact The Appraisal Price
There are a few factors that can impact the price of appraisals. One of the top factors is the length of time it will take to appraise the item. There are also many factors that affect how long it will take to appraise, which is why the appraiser must give you a fair estimate.
For example, depending on your item, it can take an appraiser a few weeks to research the antique. If you want the appraisal to go smooth, you must make it that way for the appraiser by doing a few things that include:
- Decide the item you want the appraisal for
- Make it easy for the professional to get a close look at it
- Know the reason you have your antique item appraised, as it will help the appraiser to provide a value according to the purpose, such as resale, insurance, and more
- Gather paperwork, such as letters and receipts related to the antique
All of these factors will help you make the process smooth, which means you will be saving the time of the appraiser and your money. So, don’t forget to take these steps.
How To Find An Antique Appraiser
There are various ways you can find a certified antique appraiser that will specialize in the antique you are trying to get appraised. The best way to opt for an antique appraiser is to go through the website of the following organizations:
- Appraisers Association of America
- American Society of Appraisers
- International Society of Appraisers
There are endless members of these organizations, and all of them are certified. Each member will include their certification level and the background they have in appraising antique items that are similar to yours.
How To Choose An Appraiser
Choosing the right antique appraiser will take some time and research. A great way to begin selecting is to go through the websites of these organizations. After that, you can also ask your attorney, accountant, or bank manager, as they also have connections with various appraisers for their clients.
You can also ask museum directors because they also appraise items for their museums. Once you have a list of names, we recommend that you check their resumes and then double-check their references. After that, you can set up a meeting with an appraiser to ask questions.
- The time it will take to appraise the item
- What certifications do they have
- If they have experience appraising the item you have
- How much they charge for the appraisal
- What they require from you to make the appraisal process smooth and easy
Once you ask these questions, you will have everything you need to make an informed decision. In the end, you can determine who you want to choose depending on your budget and other factors.
Do Pawn Shops Have Appraisal Services?
There are pawn shops that have appraisal services. These people usually have a good idea of the value of your item, but they don’t have certifications. These shops will take your items and hang onto them for a while.
After that, you can decide whether you want to have your antique piece back or not. We recommend that if your antique is highly valuable, you must opt for a certified appraiser. They are professionals that have the skills and expertise to give you a proper appraisal.
While pawn shops are an affordable method for antique appraisals, you never know if they have given you an accurate value. So, follow our guidelines and select the best antique appraiser that will determine the value of your antique.
Once they do, you can decide what you want to do with the antique item, as many people opt to sell the item. If your antique has a high appraisal value, you can make a fortune off it in no time.
Thomas Boseman is the author of Pawnbroking.com. A pawn shop owner by day, blog writer by night. When not writing, he enjoys exploring the outdoors with his dog, Roman. Thomas received his bachelor of arts in film from the University of Arizona. A Brooklyn native, Thomas is a lover of filmmaking, motorcycle, and coffee.