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Everything You Wanted to Know About Appraisals, But Were Afraid to Ask

October 18, 2023

Reading time: 12 minutes

In honor of National Estate Planning Week, we thought we’d take a deep dive into the world of appraisals with an Ask Me Anything with our dear friend, colleague, and Ally of Stuff, Sarah Reeder, Founder of Artifactual History Appraisal.

In addition to being an expert on ‘stuff,’ and specifically the value of ‘stuff,’ Sarah is also author of the book Ray Eames in 1930s New York, co-editor of Worthwhile Magazine™ and co-creator of The Art Elevator Collector’s Club. Read on to learn more about what she does as an appraiser, when to contact an appraiser, and even those questions we all want to ask (but may be afraid to!) such as what the difference between an appraisal and a valuation is.

For our members who are new to the appraisal process, how would you sum up what you do?

Reeder: I like to think of what I do as being part lawyer, part accountant, and sometimes even part therapist! It might surprise some people, but appraisals are nothing like what you see on TV. My work entails numerous hours of research, the preparation of legal documents, and meeting meticulous professional requirements for appraising items to establish a value in a specific level of the market on a specific day (called the effective date) for a specific intended use. (We’ll come back to that later!)

Appraisals are nothing like what you see on TV...

The work appraisers do is a very specialized type of professional service akin to an attorney or an accountant that requires a lot of time and focused research, so the very quick and informal “off-the-cuff” depictions of appraising we all see on television have edited out the lengthy preparation (because it would be pretty boring to watch!) that goes into those short segments we see. But I wish it was more widely known that there is so much more work that goes into appraising than the 2-minute clips we see onscreen.

The therapist part sometimes comes into play because as you know so well here at Artifcts, objects can hold powerful memories and inspire strong emotions, totally independent from what their monetary value might be. Sometimes it’s a delicate conversation when the “heart value” and financial value are not aligned, and that is where I rely on market data and research to help individuals understand the current market conditions and corresponding value of the item. I always emphasize that market conditions should not diminish the positive sentimental associations they have with an item—they just happen to be the lens that appraisers must use in our professional work.

So, getting down to the nitty gritty, can you walk us through a typical day?

Reeder: There is no one typical day. That is one of the many things I love about being an appraiser, you never know what you’ll be working on next! There are two types of appraisals I spend most of my time on insurance appraisals and estate appraisals. And yes, they are different!

When I am working on an insurance appraisal, I am creating a legal document that will protect you and your items in the event of damage or loss. These appraisals are for the retail replacement value of the object and in doing so, pins that object and that value in time. That specific moment in time is called the effective date of the appraisal, and all appraisals have effective dates.

The effective date of appraisal is so important in all appraisal report intended uses, because it provides critical context for the numerical appraised value. The markets for art and antiques are always changing, much like the stock market we are more commonly familiar with, so the appraised values need to be contextualized to a specific day, because on the day before or the day after market conditions may have been different. For insurance appraisal reports, the effective date is typically the day I inspect the items in person as it establishes the condition I witnessed on that day.

The markets for art and antiques are always changing, much like the stock market...

When working on these types of appraisals, I spend a lot of time researching the object, documenting it with photos and a detailed description, cataloging it with a standardized format that will allow future users of the appraisal report to know the characteristics of the appraised item, researching the specific level of the market for similar items for the appraisal report’s intended use, and then developing an appraised value based on all the above.

In the case of insurance appraisals, the appraised value is generally the replacement value of the object (i.e. what would it cost to acquire the same exact or very similar object in a short period of time from a retail dealer). For example, if I am appraising a painting by a particular artist for insurance purposes, I’m going to identify which galleries represent that artist or sell paintings by that artist, and then compare their available inventory and pricing (which often is not publicly available and requires outreach to the galleries) to the appraised painting in terms of subject, size, condition, era of the artist’s career, and other factors.

Based on the current retail data I can obtain, I then make adjustments up or down if needed relative to the appraised painting, and document all relevant research for my appraisal client workfile, which I am legally required to keep for a minimum of 5 years. The final number after the specific adjustments from the comparable records accounting for differences from the appraised item is the appraised retail replacement value. So it’s all a lot more complicated and research-intensive than what the public typically sees in popular depictions of appraisers on television.

Insurance appraisals are very different from estate appraisals. Estate appraisals are not used for insurance coverage.  Estate appraisals are prepared at fair market value and are required in some situations to be filed with the federal government or relevant state and local governments for estate tax filing. The legal professional handling an estate is the one who determines whether this is required in specific estate situations.

While insurance appraisals are typically prepared at retail replacement value, estate appraisals are prepared at fair market value, which is often quite a bit lower. The United States government defines fair market value as

"The price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts." According to Technical Advisory Memorandum 9235005 [May 27, 1992], fair market value should include the buyer's premium. [Source: Treasury Regulations Section 20.2031-1 (b).]

For estate appraisal reports, the effective date is typically at the time of the death of the deceased. This is very different than with insurance appraisals as it could take an executor months and months to close out an estate and yet the value is still pegged to the date of death. There is something called the “alternate effective date” which is 6 months after the date of death, which the estate can elect to use if the market has changed significantly in that time period. I always like to confirm which effective date the estate is using as this is a critical factor in guiding my valuation research.

Can you tell us a bit about the tools of your trade? What do you take with you when you visit someone’s home to start an appraisal?

Reeder: I always like to take a good camera with me for capturing documentary photos, a tape measure so I can obtain the dimensions of artworks and the other items I am appraising, a clipboard and paper so I can take notes on-site that will later be expanded with research back in my office, a blacklight for examining artwork for inpainting and other restorations, a jeweler’s loupe for studying silver marks and other small details, and a flashlight for studying artist signatures and providing additional ambient lighting for my photographs in dark locations. I carry multiple flashlights and measuring tapes with me so if one breaks while I am on-site, I have a backup available to be able to continue working.

I have to make sure I capture all the precise details that make your object unique. If it is artwork, is there an artist signature? Any blemishes or marks? Water or sun damage? All of these things are important to ascertain the value of an object, and I need to be able to document them while onsite.

 

Worn leather bag used for appraisalsSarah's trusty go-everywhere appraisal bag full of her tools of the trade. 

Some people, and I admit, I was one of them at the beginning, may not know the difference between valuation services and an appraisal. Could you help explain what makes the two different?

Reeder: Sure! The Uniform Standards of Professional Appraisal Practice (USPAP) define valuation services as:

“A service pertaining to an aspect of property value, regardless of the type of service and whether it is performed by appraisers or by others.”

An appraisal is defined by USPAP as:

"(noun) the act or process of developing an opinion of value; an opinion of value. 
(adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services.
Comment: An appraisal is numerically expressed as a specific amount, as a range of numbers, or as a relationship (e.g., not more than, not less than) to a previous value opinion or numerical benchmark (e.g., assessed value, collateral value).” 

In terms of the general popular context of these two words outside of their specific USPAP definitions, a valuation is typically more closely associated with ballpark estimates and not with a legal document. Think of it as something that will get you basic guidance, such as getting an approximate sense if an inherited collection is simply sentimental and has no monetary value, or conversely, if it might have significant monetary value.

A valuation is typically more closely associated with ballpark estimates ...

Appraisals are legal documents.  A verbal ballpark numerical range cannot be used in court to settle an estate, with the IRS to document tangible assets for tax purposes, or with an insurer to document items for an insurance policy. USPAP-compliant written appraisal reports are needed for those intended uses.

Are there any red flags our members should watch out for when looking to hire an appraiser?

Reeder: One of my personal red flags is if the appraiser essentially says, “I will tell you how much it is worth and then purchase it from you.” There is a major conflict of interest there, and their interest may not be in your best interest.

Another major red flag is if an appraiser is not USPAP-compliant. USPAP is a very important professional and ethical standard regulating appraisers to help protect users of appraisal services.

It’s always best to look for an independent appraiser who is USPAP-compliant, and ideally is also a member of one of the professional associations for appraisers such as the Appraisers Association of America (AAA), the International Society of Appraisers (ISA), or the American Society of Appraisers (ASA). I am a Certified Member of the Appraisers Association of America and a Certified Member of the International Society of Appraisers.

You also want to make sure that any appraiser you hire has expertise in YOUR object(s). A jewelry appraiser may be great for your jewelry collection, but not your collection of mid-century modern furniture and vice versa. In USPAP, this is called the “Competency Rule”—basically, is this appraiser competent to appraise your items? If they aren’t, they shouldn’t do it.

You also want to make sure that any appraiser you hire has expertise in YOUR object(s)...

When should people hire an appraiser? Are there any life transitions that may necessitate an appraiser?

Reeder: Life transitions are a great time to take stock of what you have and what’s it worth. Some common life transitions where it can be useful to engage an appraiser are:

      • If you have inherited potentially valuable items such as artwork. An appraiser can provide expert guidance on their value and prepare an insurance appraisal report so they can be scheduled and protected with your insurance company.
      • If you plan on moving it can be very helpful to have valuable items appraised for insurance purposes in advance or to update an existing appraisal to make sure the insurance coverage is current.
      • For estate filing purposes when someone has passed. The estate’s attorney will direct whether an estate appraisal is needed.
      • For proactive estate planning purposes—if you have large collections, it can be helpful to get a sense of their value and how they might be structured in your estate plan for maximum tax efficiency for your heirs (again, your attorney will be a very helpful resource in this process).
      • Sometimes divorces are another life transition that may require an appraiser for the equitable distribution process. 

And finally, you’ve experienced firsthand the joy (and usefulness!) of Artifcting. Any advice for our members or thoughts on how Artifcting can aid the appraisal process?

Reeder: Yes! Artifct your ‘stuff.’ Don’t wait! The details, photos, even video can help an appraiser get to work immediately determining an appraisal scope of work and sometimes even using the Artifcts as a resource to appraise items that may now be damaged or lost. It can save a lot of time and back and forth emails if you Artifct and share your Artifcts with your appraiser. Artifcts really is perfect for an appraiser’s workflow!

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Sarah Reeder is a Certified Member of the Appraisers Association of America, a Certified Member of the International Society of Appraisers with the Private Client Services designation, and a graduate of New York University's Program in Appraisal Studies in Fine & Decorative Arts.

© 2023 Artifcts, Inc. All Rights Reserved.

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Inside Look at One Woman's Journey Into Quilting

Sunny Morton may be best known for her public speaking and writing in the world of genealogy, but she is also a self-taught quilter. And while she credits YouTube with her skills, the creativity, technical prowess, and perseverance this craft demands really suggest her quilting skills say more about her than any online video.  

We love origin stories and now having watched Sunny Artifct and share quilt after quilt on Artifcts (@SJM), we were excited on this National Quilting Day to give you all a glimpse into one quilter’s hobby and the heart and story behind her craft. No artist’s journey is like another, and you’ll discover below the heart connection in every quilt she makes. 

The Origins of a Quilter

“I got started six years ago with a t-shirt quilt for my oldest son when he graduated from high school. Well, not just t-shirts, I suppose. I worked in his varsity school letters, too. He loved it and took it away with him when he moved out,” Sunny recalled, before smiling and offering a self-critique. “I used the wrong kind of stabilizer, so the shapes turned out a bit wonky. But I’ve gotten better, way better!”  

a t-shirt quilt

With three kids to practice creating those t-shirt quilts, Sunny had plenty of t-shirts to experiment. The second one was for her son Alex’s high school graduation.

“He is an engineering student with an artistic mind, so he helped design his quilt,” she said. “He played on the same soccer team for years, so he made the repetition in the quilt blocks more interesting by making those blocks smaller and lining them up together. He has variously gone by his first and middle names—John and Alex—so one clever block combines three different shirts to spell out his entire name. And I definitely did a better job on the quilting.” 

In Sunny’s most recent t-shirt quilt for her youngest, her daughter Seneca, not only did she get the stabilizers right, phew, but the materials she had to work with made for a unique design, too.  

“It’s all a single-color scheme because my daughter wanted me to use only the shirts and skirts from her school uniforms. I integrated the woven plaid skirt pieces and sewed down the pleats to add texture. It’s gorgeous.” 

We agree!

a pleated skirt square in a t-shirt quilt   messages on t-shirts in a quilt

And thus, in just three quilts, you’ve learned a bit about Sunny and what connects her to her art. But why quilting? Read on! 

An Artist Emerges to Meet Life's Challenges

Let’s face it, YouTube videos will only get you so far in your artistry. Hands on instruction and comradery fill in critical knowledge gaps for any artist. Frankly, that’s true across professions. Can you imagine a surgeon who has never laid hands on a patient under the direction of an experienced surgeon?  

In Sunny’s case, her hands-on training came through quilting retreats with women who were generally much older than her and, notably, retired.

A quilt for myself: Denim buffalo check

“They’d look at my work and say, ‘Um, let’s try that differently,’” said Sunny with a laugh. “They were so generous with their knowledge and opinions, for better and worse.” 

For Sunny, quilting became a way to connect with her family and other quilters as she’d slowly gather the materials for her quilts and dream of future designs. But it also became an outlet to manage the many stresses in her life, a life with complex health challenges surrounding her and her loved ones, as well as her grief for those she’s lost.   

“When my brother passed away unexpectedly, I holed up in my house for a year, creating two quilts for his daughters. It was cathartic. I needed that tangible outlet for my grief and to feel connected to him and to my nieces.” 

Remembering Sam McClellan quilt   Remembering Sam McClellan quilt  

Sunny was quick to point out that it’s not only the cathartic nature of quilting that drives her. She also treats her time quilting as a reward in a busy season of life.  

Sunny works as a professional genealogy educator and content creator, in addition to being a wife, mother, and caregiver. So, when she’s working a lot of hours—never in her craft room—quilting is the reward waiting at the end of the day. With piles of textiles lying in wait, she can sink into her passion and emerge from the other side refreshed and with something to show for it, too.

A Family Honor: The Fundraiser Quilt 

Sunny’s quilting life is still in its early innings and yet it already has a happy interlude. Her family has a unique enduring tradition that’s all about THE quilt. For decades, her husband’s grandmother crafted a quilt each year to raffle off at the family reunion every Labor Day weekend. The proceeds help fund the following year’s gathering.

In the summer of 2023, Grandma announced her retirement. And she decreed that Sunny would be the future family quilter. “It was a ‘gasp’ sort of moment,” recalled Sunny, “Intimidating but what an honor. I thought long and hard about what this family would want. They are very patriotic and with a lot of veterans in the mix. Ultimately, I chose to quilt a compilation of American flags.” 

Flag of American quilts with the quilter posing next to it

This quilt was unlike any other Sunny had created. Maybe it was the intense desire to win over Grandma (and the rest of the family), maybe she was ready for the challenge, or maybe it was both of those combined with an artist’s eye for something truly unique.  

No matter the motivation, the result was beautiful. “One of the family’s veterans, Nathan, bought so many tickets, he was sure he would win. At the very last moment, a cousin’s wife who had arrived late purchased her tickets—and she won! She is also a caregiver for a loved one with special needs, and I admire her. It was both funny and touching to see her beat out Nathan.” 

“And then when I got home, I made Nathan a smaller version and sent it to him as a surprise.”  

What will Sunny create next? You can follow her on Artifcts (@SJM) to see for yourself! 

Happy Artifcting! And happy quilting.

###

© 2025 Artifcts, Inc. All Rights Reserved.

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Aspirational Clutter & Your Closets: What is Aspirational Clutter, and What Will You Do With It Next?

Have you heard of aspirational clutter? It’s the stuff you buy, collect, or otherwise hold onto with intention of some future use. Or maybe it's for some future version of you and the life you plan to lead.

Aspirational clutter can exist anywhere and everywhere in your home. Take the kitchen, for example. How many cookbooks, special pans, unique spices, and gorgeous serving vessels do you keep with the intention of expanding your cooking repertoire and hosting more events in your home?

For others, many many others, the bedroom closet is an absolute magnet for aspirational clutter. For this reason, you even commonly find references to this sort of ‘stuff’ in popular books. For example, the NYC-dwelling lead character in best-selling author Jodi Picoult’s book, Wish You Were Here, lamented her inability to let go of her shoebox full of art supplies when she pivoted to a career in art sales with Sotheby’s. But it was not only art supplies.

“The shoebox came with me, still unopened. I set it on the highest shelf of my closet, behind sweatshirts from college I no longer wore but couldn’t bear to donate to Goodwill, and the winter hiking boots I bought but never used, […]”

(By the way, Artifcts is a perfect digital shoebox for the valuable and sentimental items you collect alike.)

Here are more examples of aspirational clutter that find cozy homes in our closets:

      • Clothing that ties us to a special moment in our own story or we’ve outgrown or matured beyond, but we tell ourselves maybe one day we could wear again.  
      • Accessories, like gorgeous silk ties and cufflinks, clutches and stilettos, and more for fancy events that we never attend. 
      • Everything for the wrong climate. If you live somewhere in which winter’s scarcely a month long and snow is a once in a lifetime event, how many sweaters, sweatshirts, mittens, snow boots and spare down comforters do you actually want to make room for?  You may dream of vacations or a return to cold living, but is storing this all for years if not decades practical? 
      • Kits and crafts, maybe you bought them, maybe they were gifts, but you’ve never picked it up or kept it up. Maybe it’s time to let go in favor of a hobby that is you?

Closet Tales from Texas & Wisconsin

Our co-founder Ellen who lives in the heart of Texas recently emptied every single thing that belonged to her from her master bedroom closet. Her goal was simple: LESS. She reported that she felt depressed by the end by what she saw as so many aspirations unmet as well as waste, articles of clothing barely or never worn, “Because I just never felt good in it or never had the right occasion for it. It's no different than buying framed art for a wall or a pillow for a couch because you love them and then you realize, you really have no space for it.”

As depressing as it was, there were nice moments, too. Ellen saw in her items so many lives she’s lived.

“I literally found a maternity shirt I wore when I was pregnant with my daughter 14 years ago. Ha! I also realized I still owned the suit jacket I wore to my first interview at the CIA nearly 20 years ago. I really thought I had already gotten rid of it.”

When we asked what one tip she has for anyone undertaking a rightsizing of the contents of their closet, she said it was important not to let yourself off the hook. “I was smart to lay it all out on and around our bed because it put a clock on my work. We couldn’t sleep if I didn’t get through it.” Her sorted piles ended up looking like this:

      • Sell 
      • Donate, “But first you can bet that I Artifcted that suitcoat from my CIA interview!” 
      • Wash and/or repair (and then keep)
      • Keep 
      • Trash 
      • Give to my daughter/neighbor/friend 
      • Recycle, “Especially all those hangers! I was able to return some to my local dry cleaners and the rest to Goodwill. I also marked a bag ‘Textiles for recycling,’ that could not be sold and gave that to Goodwill, too.”

More than 1,000 miles away from Texas, tucked in their new home away from home in chilly Wisconsin, a member of the Arti Community undertook a similar closet downsizing effort recently. But her efforts were precipitated by a change in career and a move from DC to Wisconsin.

Her biggest challenge? What to do with all those formal work clothes! They still fit, that was not the issue, but would she need them now? Suits, heels, and designer handbags, oh my! They meant enough to her to make the move, but now that she was staring at the ever-shrinking space in her new closet, did they warrant the space?

Her silver bullet was unexpected: her husband! Weeks of hemming and hawing, combined with a healthy dose of “do-you-really-plan-to-wear-that-up-here" questions from her husband helped her decide to sell the pieces that were sellable (thank you, The RealReal!) and donate the rest, but not before she Artifcted them. She now has the memories of the clothes, and what they meant to her, safely stored in Artifcts, AND a lot more closet space for all those cold weather necessities.

Before we conclude this ARTIcles edition, we want to know, what items are the tough stuff in your home, the hardest to let go? Please let us know at Editor@Artifcts.com. We'll update you next week on the results!

Which category of stuff is the tough stuff for you to declutter

Happy Artifcting!

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© 2025 Artifcts, Inc. All Rights Reserved.

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Trio of New Features | March 2025

Today we’re excited to share a trio of new Artifcts features with you.

Over the course of eight in-person conferences during 2024 and approximately 80 hours of interviews, we discovered ways to fine tune your Artifcting experience to support you even more both during and after you’ve created those Artifcts.

As always, we placed ease-of-use and privacy at the heart of each new feature.

Thank you for being a part of the Artifcts journey. Let’s explore the latest!

Private Notes 

As it turns out, sometimes you want to share your Artifcts with others, but you want to include details in your Artifcts that you’d prefer to keep to yourself. So, what’s one to do? 

Now at Artifcts you have an optional field titled, 'Private notes.' It’s exactly as it sounds. Whatever you type there will not be visible to others if you share the Artifct. The exception of course is if you give someone “Full Control” over your Artifct (versus the default “View” access or other “Edit” access).

This new field is on the “Full form” when you create or edit Artifcts, directly after the “Story or Description,” making it a natural extension of what you have to say about anything you Artifct. 

private notes field on Artifcts

Customizable Reports  

It was professionals in appraising and estate management who first approached us about downloading customized reports on Artifcts. Later, this request was seconded by professional home organizers and move managers. Finally, individuals, several of whom were working on their wills, asked for the same. 

Now you can create custom reports, no matter your “why.” When you click 'Download,' you’ll be prompted to select the fields and related files you want to download, too, ensuring you can download only the information you need, when you need it.

As shown below, we’ve simplified matters by choosing the Artifct title and description by default, offering a "Select all" option, and reducing your download size by allowing you to exclude photos, videos, and documentation when you do not need them. 

pop up window providing options for which Artists details you want to download

Artifcts Up Next Report 

We consider this saving the best for last: the new Artifcts Up Next report.

The truth of the matter is that at the end of the day, digitizing the stories and financial value by creating Artifcts addresses one set of needs, but you still must deal with the physical stuff in the room, sorting it and often re-homing it, too.

When you Artifct, there’s just one optional field we show you on the 'Quick form' because we think it’s that important. It’s called 'In the future.' As the name suggests, we urge you to consider what’s next for everything you Artifct. Your options are: 

      • Sell. You can even set a custom reminder and Artifcts will email you.  
      • Bequeath. Adding details to whom is optional. 
      • Donate. Here, too, adding details is optional. 
      • Keep in the family. We hope your “Description or story” offers a compelling reason. 
      • As you wish. Meaning, “I won’t haunt you. Don’t keep it in storage for the next 30 years on my account.” 
      • It’s too late. Enjoy the memories. I already got rid of it. Do not go looking for it. 

When you download the new Artifcts Up Next report, it will give you a checklist of all your Artifcts, sorted by the ‘In the Future’ category. You can then work through the list yourself, with family, or with an organizing, estate, or move management professional to get the ‘stuff’ where it needs to go next.

example report showing items to bequeath to loved ones

 
 
This is just a snapshot of a sample report, showing the Bequeathed section, guideline, and the type of Artifct information you'd find listed.

 

We have an open door!

Is there something you wish Artifcts could do or help you with? Is there a feature driving you a bit crazy or confusing you in any way? You can write us a Support@Artifcts.com. And be sure to catch up on past product updates, too!

button to jump to past product updates with Artifcts

_________________

Helpful resources as you get started and continue enjoying Artifcting:

Quick Start Guide

Inspiration Lists

FAQs & Videos on YouTube

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© 2025 Artifcts, Inc. All Rights Reserved.

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