What is a Personal Property Appraisal, and Do I Need One?

What is Personal Property?

Personal property are assets like artwork, furniture, antiques, jewelry, collectibles, and household items. When evaluating an estate, personal property is often everything except for the real estate (home and land) itself.

What is a Personal Property Appraiser?

A personal property appraiser is a professional that is licensed to value personal property in a “competent, independent, impartial, and objective” manner. These appraisers (who should be members of ISA, ASA, or GIA and be able to issue USPAP-compliant appraisals) are required to adhere to codes of conduct and report writing standards.

What is a Personal Property Appraisal?

A personal property appraisal is a professional appraiser’s opinion of the value or cost of personal property at a point in time. After evaluating articles of personal property, an appraiser will put together a formal appraisal report including: the intended use of the report, the appraised value or cost of the property, and the methods and resources used to arrive at that opinion. To be broadly accepted, appraisal reports must comply with the Uniform Standards of Professional Appraisal Practice (USPAP).

What Can A Personal Property Appraisal Be Used For?

A personal property appraisal can be used for…

  • Insurance Purposes

  • Probate, Estate Planning, and Will & Trust

  • Charitable Donations

  • Divorce

  • Damage Claims

  • Your Understanding of Value

  • And More!

What Should I Look For In A Personal Property Appraiser?

  • ISA, ASA, and/or GIA membership and certification

  • The ability to issue USPAP-compliant appraisal reports

  • A long track record of appraisal experience

  • Strong reviews from past appraisal clients

AppraiseItNow Appraisers Meet All Of These Requirements

Our team of appraisers is a hand-picked group of the world’s most highly-regarded, experienced, and knowledgeable personal property appraisers. If you need a personal property appraisal, no matter the type of item(s) or your location, our appraisers can meet your needs!

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