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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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Every Room Has a Story: Kitchen Edition

Reading time: 5 minutes 

Welcome to the fourth in our series of the stories of your living spaces: Your kitchen. Often the workhorse of our homes, the kitchen is also ground zero for family gatherings, traditions and oh-so-many memories and stories to go along with it all. Not to mention ALL that cabinet space, which too often ends up becoming the final resting place for long forgotten and seldom used gadgets, mugs, cookbooks, and more! 

What surprises are hidden behind your cabinet doors? What memories and stories are sitting untold? What ‘stuff’ is getting in your way of the job to be done: cooking! Let’s go! 

Catch up on past editions in the series: Living Room |  Kids’ Rooms Bathroom 

Cookbooks, Recipes & More 

Show me a kitchen without a cookbook and I’ll show you... a [insert company name] catalog. Yes, those designer kitchens in our favorite furniture store catalogs always LOOK nice, but our co-founder Heather is always left wondering, where are the cookbooks?  

Growing up, Heather’s mom was a fabulous cook. Heather still remembers sitting on the butcher block counters and doodling in the cookbooks as her mother baked. And we’re certain she’s not alone in her memories in the kitchen and those omnipresent cookbooks.  

Whether your cookbook collection is more accidental than intentional, one thing is for certain, kitchen cabinets and shelves are great for holding, hiding, and yes, collecting cookbooks! Your shelves are so accommodating that they do nothing to help you parse out the useful, the emotionally valuable, or the “it was a nice thought, but not happening” cookbooks.  

And let’s not forget about the recipes. Sometimes it’s not so much the cookbook as it is one of the recipes inside that triggers the memory.  

 
 
 
 
Heather found a handwritten recipe from her father in one of her mother’s cookbooks. Heather framed the recipe, and three moves later, it still sits prominently on her kitchen counter. CLICK THE IMAGE to view the Artifct.

Feeling inspired? Ready to thin that collection? As you do, Artifct favorites on the spot! Really want to wow your family? Include a short audio story of WHY you love that particular cookbook or recipe. Better yet, include a short video of you making the recipe or providing instruction on how-to make the recipe.

 

 
 
 
 
 
 
One of our most-loved Artifcts involves a grandmother instructing her granddaughter on how to make the family’s secret biscuits. CLICK THE IMAGE to view the Artifct.

Gadgets Galore 

Ah yes, kitchen gadgets. As lovers of all things kitchen related, our co-founders Heather and Ellen get it. Who doesn’t want the latest and greatest sure-to-revolutionize-your-dinner-routine gadget? Thankfully for them, space is at a premium in both households, which means that function usually always wins out and helps to keep extra gadgets at bay.  

That said, we know this is not the norm. Our members have shared with us stories of all those gadgets sometimes inherited, sometimes accumulated. We’ve heard firsthand how New Year’s resolutions to eat healthier end up with juice machines, bread machines, blenders, and the like tucked away in the back of our cabinets, taunting us and our half-hearted attempts. 

 
 
 
When @Sue Artifcted her antique cheese grater, she even showed her daughter how to use it! 

But then there are the #battletested kitchen gadgets that have stood the test of time and are woven into the fabric of your family stories around the recipes and holidays they served.

 

 A rolling pin that's been passed down for generations! @Grandmom Artifcted it. CLICK THE IMAGE to view the Artifct. 

For all those kitchen gadgets, whether old or new, loved or maybe forgotten, it’s time we take a hard look at them, too. Do they still work? Will you still use them? Perfect! Keep! If the answer is ‘no’ to either of those questions, consider donating or recycling but not before you Artifct them. A few of these gadgets are even featured in our 108 Things to Declutter list, downloadable here.

Junk Drawers, Fridge Doors, and All Other Surfaces 

Hello elephant(s) in the room! We’re looking at you junk drawer, fridge door, and all other available surfaces where clutter in our kitchens tends to accumulate. 

Barbara Hemphill, of the Productive Environment Institute coined the phrase, “clutter is postponed decisions.” So true! And somehow our kitchens enable us to postpone those decisions even further.

Not today! Pick an area—your junk drawer, your fridge door, or flat surface—and take a hard look at what is there by spreading it out onto an open surface and then thoughtfully reviewing what belongs:

      • Seasonal items can easily be rotated out if you pause to take notice that they are still there, months later. We’re looking at you, hand towels!
      • Sentimental but unnecessary? Great, Artifct it and then recycle, rehome, or otherwise put it in its appropriate space.
      • Any lurking financial or business-related stuff, such as old receipts, invoices, and the like, could potentially be scanned and then shredded.
      • Got mementos overflowing, e.g., old matchbooks, magnets, ticket stubs, and other souvenirs? We bet there are some good stories behind those items to Artifct and share with family and friends. Maybe consider rehoming the actual item if it is no longer needed or used.

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© 2024 Artifcts, Inc. All Rights Reserved.

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Oldies-But-Goodies: Summer Reading List from the Artifcts Archives

If you're anything like us, you probably have your favorite newsletters piling up in your inboxes all week, all month, all quarter long. We know how great they are, loaded with useful information, new research, fun tips and more, but the days can be so full. And we want to devote our attention to them, so we save them and wait until we have more time. Is summer that time for you?

If ARTIcles by Artifcts is new to you or piling up from your busy days and months, we’ve compiled a few of our favorites from over the years into your next summer reading list, perfect for your next roadtrip, airplane ride, or other adventure over your summer holidays.

While creating this list made us a bit nostalgic, it also reminded us why we’re here – helping us all to transform our relationships to our ‘stuff’ and to each other, one memory, one story, one Artifct at a time. Enjoy!  

Artifcts Co-founder Heather Nickerson’s Summer Reading List 

USE ARTIFCTS TIMELINES TO ENRICH YOUR FAMILY HISTORY

Have you tried keeping track of your family history? Although I'm a 12th generation Nickerson, I am allergic to genealogy apps or any type of software that makes me feel like I’m embarking on a senior thesis project. Artifcts Timelines however are a (nice cool summer) breeze. Read now -->

A FAMILY HISTORY IN FIVE ARTIFCTS 

When push comes to shove, could you tell your life story in five Artifcts? Which Artifcts would you choose? I’m not sure I could, which is why I love this piece. Read now --> 

STUCK IN THE MIDDLE WITH STUFF: THE SANDWICH GENERATION

These days I'm feeling more like a panini than a sandwich, trying to plan for yet another move with all our 'stuff' while working full time at Artifcts. This one speaks to all of us who are trying to juggle kids, parents, four-legged dependents, and our jobs, and not always in that order. Read now --> 

A VIRTUAL IMPOSSIBILITY OF KEEPING UP WITH ALL MY DIGITAL PHOTOS 

Guilty as charged. This will be mandatory reading for EVERY family member this summer as I refuse to pay for yet another upgrade to our Apple storage plan. Read now -->

15 DECLUTTERING TARGETS FOR ARTIFCTERS

It's actionable, and as my youngest used to say, “Chop, chop!” I think my father is secretly looking forward to a couple of extra helping hands this summer as we tackle the basement with this list in hand. Read now -->

Artifcts Co-founder Ellen Goodwin’s Summer Reading List 

SOUNDS OF SUMMER – VINYL EDITION 

Music is magical. We use it to teach. We use it to celebrate and recover. We even use it to reconnect with loved ones who have been robbed of so much by dementia, but the powerful memories of music bring them joy. What music would make your ‘best of’ cut? Read now -->

FROM RARE ART TO FAMILY HEIRLOOMS: TIPS FROM A MASTER AS YOU CONSIDER SELLING YOUR ‘STUFF’ 

Too often we are our own worst enemies, procrastinating, inflating expectations, and worse when it comes to downsizing and decluttering objects we own. We've taken to heart the perspective and truths that Antiques Roadshow host Lark Mason shared with us from his decades of experience working with families as they auctioned away pieces of their family history. Read now -->

FIVE LESSONS FROM ARTIFCTING WITH MY MOTHER (+ The Epilogue!) 

Artifcting is about connection, one on one, in groups, as communities. This story comes from the heart, offering guidelines to make the most of your time Artifcting with your loved ones. Read now --> 

PINT-SIZED PERSPECTIVE ON DECLUTTERING & MOVING 

It can be hard to be 5, 6, or 7, or any age under 18 really. So little control over nearly everything! This article is about bringing kids into the decluttering and downsizing game to give them back some control as you prepare to move. Don’t miss a more recent article on this theme from our friend Matt Paxton, too. Read now --> 

HOW TO TAKE PICTURES OF OBJECTS AT HOME 

The team at Artifcts wants to support you as much as possible, every step of the way. So when our members ask us for tips—like how to take nice pictures of ‘stuff’—we do everything we can to respond and help. Aesthetics matter! Details matter! If you want to level up from our at-home advice, we collected photo tips from a pro, too. Read now -->

We wish you all the best over these summer months. Happy reading, happy Artifcting!

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© 2025 Artifcts, Inc. All Rights Reserved.

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Who Wants Your Family China?

Last week while out walking my dog, I ran into a neighbor. As usual, we started chatting, and 20 minutes later my dog had given up and laid down realizing the walk was on pause.

My neighbor had just returned from a trip to see her son, daughter-in-law, and grandbabies out in Utah. During her visit, she updated her family on some remodeling and upgrades at the family home in Austin. As a part of this process, she’d been required to relocate items around the house to make room for the contractors to do their thing.

By actually picking up and taking stock of items she hadn’t even thought about in years, and being an avid fan of Artifcts, she paused to think, “What is all this? Why am I holding onto it? What am I going to do with it next?”

She told her son she planned to donate the family china sets—yes, plural—and probably even old leaded crystal glasses and bowls that had fallen into disuse. “I know you don’t want my stuff. I read about it in the paper every day. I get it.”

Except, she was wrong.  

Her daughter-in-law did not see it as sentimental clutter, as many her age tend to do. She intsead chimed in, "Didn't one of the sets belong to Alex's great grandmother?“ It had, and her daughter-in-law said, "In that case, I want it. It’s family. Same goes for the crystal.”

Future Options for Your China Set

The irony, according to my neighbor, is that while her daughter-in-law may want her china and crystal, shipping it will be expensive, and it will almost certainly sit in their storage unit in Utah. They live in an adorable bungalow where there’s no space for china.

“I hope I can take it to them myself the next time I take a road trip out to see them. Somehow it makes her feel good to hold onto it. That’s fine by me as long as I don’t have to!”

If your china set has fallen into disuse, think carefully through your options:

Sell

We think that for you to make the best decision, you need all the facts. If you intend to sell your china, do not expect it to be a major money maker. Better to be okay with “something is better than nothing” even if we all know there are wild exceptions out there in the world, like these ceramic plates that sold for over $25,000 at auction.

A simple online search can give you an idea of what your set is selling for in the current market. Because of shipping costs, you’re likely constrained, but for some china (because of the designer, pattern, or quality) shipping may not a barrier. You might discover a single plate will sell for $85 or $3. Check around with sites like liveauctioneers.com, eBay, Etsy, and 1stDibs.

Some online marketplaces, such as Replacements.com, buy china to then sell it off piece by piece to people who are looking for replacements for their set. But read the fine print. Some sites make quotes pending receipt of the items, and then once they receive the items, they could reduce their offer. And the price a piece sells for is going to be substantially different from what they pay you. Know this and be okay letting it go.

Family and Friends 

You really do have to ask!

Do not assume that no one wants it.

Ignore those news headlines.

You might have a friend, neighbor, or loved one with a desire for your china. But avoid attaching strings to that gift. If you give away your china, and they then turn around and break up the set, transform it, or eventually get rid of it, no harm, no foul!

Keep a Few Pieces 

If you’re feeling sentimental or even guilty about letting go of something that was a part of so many family occasions or was originally expensive to purchase, holding onto a few pieces of the set might help you let go of the rest. Perhaps you keep only the tea cups, only the dessert plates, or a platter and/or serving bowl. That can sometimes be enough.

For others of you, you may decide that you need still less. A single cup can become a decoration on a shelf. Or you can use it bedside to float a candle or a single flower.

tea cup and saucer on stack of books

Donate

Donations can be difficult for china. They take up a lot of space and are naturally delicate. Call your local charities and thrift stores to see what they are interested in before you pack it up and haul it over.

Create

If you are the crafty type, we’ve seen creative options for smashing china and setting it into paver stones for gardens and pathways. Others carefully break, arrange, and 3D frame pieces for stunning and creative textual art. 

Artifct That 

You might decide you’re keeping your china, because you’re enjoying using it or simply looking at it. You might decide it’s out of here, tomorrow!

Either way, Artifct that to record its history, like our co-founder Heather did for the china set inherited from her mother-in-law.

Artifcting your china, or any piece of it that you are partial to, and sharing that Artifct can open up conversations you never expected. Sharing might also help you complete the “In the future” field in your Artifct.

Here are some tips for making future plans for your china:

      • If you want that china to “Stay in the family,” make sure they understand why through the story you provide in the Artifct.  
      • If you plan to sell it, great, choose “Sell,” and set a reminder for yourself and Artifcts will email you to help keep you on schedule.  

option in Artifct form to set a reminder to sell an item 

      • If a loved one sees the Artifct and is in love with the china set, fabulous. You can indicate “Bequeath” and to whom. 
      • Selling it tomorrow? Mark, “Too late! Already gone. Enjoy the memory.” to save your loved ones from a frustrating scavenger hunt. 

No matter your plans for your china, make them known to your loved ones, and prepare yourself to let it go to a new home.

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© 2025 Artifcts, Inc. All Rights Reserved.

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