The appraisal process
Generating a professional standard appraisal report usually includes the following tasks:
— a personal inspection of your objects to note their features, dimensions and condition ***
— photography for both research purposes and to include images in the appraisal report
— a review of relevant documentation in your possession (original sales receipts, provenance, etc.)
— research on the objects, their markets, relevant comparable sales and asking prices
— composition of a clear and useful appraisal report conforming with RICS Valuation – Global Standards
Appraisal reports issued by S. P. Sweeting Appraisals are well-organized multi-page documents conforming with accepted valuation standards. They describe and value your artworks or objects within a defined context such as insurance coverage, donation, probate, etc.
Read more about the Standards and Methods utilized in your appraisal here: https://sweetingappraisals.ca/standards-methods/
Appraisals contain
— a letter of transmittal page indicating a total value and other key elements of the assignment’s findings
— an extended preface outlining the essential information required to understand the valuation process and value conclusions
— basic assumptions and limiting conditions
— a signed certification
— the appraiser’s professional profile
— a detailed or short descriptive inventory of the appraised items
— value estimates assigned to individual items or specified group of items
Some reports, such as donation appraisals, contain narrative “rationales of value” with relevant comparable sales. Most appraisal reports contain photo images of the objects appraised. Appraisal fees are discussed below.
Appraisal fees
Every appraisal is individually researched and written to professional standards. Research may draw on a range of tools, including AI, but the analysis, judgement, and value conclusions are the appraiser’s own. For that reason, assignments begin at a minimum fee of $800 plus HST, whether the work involves a single object or several.
Beyond the minimum, fees depend on the time involved, the number of objects, the complexity of the work, your timeline, and the intended use of the appraisal. Travel and out-of-pocket expenses are additional, and out-of-town travel may be billed in advance.
Our fee is never based on a percentage of the appraised value. Tying a fee to the outcome would compromise the independence a sound appraisal depends on.
In most instances we provide a fee quote in advance. Most projects require a deposit of one-third at the start, with the balance due on receipt of the final invoice. Regular and institutional clients may have different terms. We accept payment by Interac, EFT, and cheque.