When to Get a Professional Appraisal

Apps, price guides and sold listings are good tools for everyday valuing. Some situations call for a qualified human expert who examines the item and puts an opinion in writing. This guide explains when that is worth the cost and how to find the right person.

Last reviewed 2026-10-16 by the ValU team.

Situations where an appraisal is usually worth it

Insurance: insurers often require a written appraisal to schedule valuable items on a policy.
Estates and inheritance: executors often need documented values for dividing property or for tax filings.
Charitable donations: donating valuable property may require a qualified appraisal for tax purposes; check current tax rules with a tax professional.
Divorce and legal matters: courts and attorneys rely on independent, documented valuations.
High-value sales: before selling something you believe may be worth a significant sum, an independent opinion protects you from underselling.
Authenticity questions: when an item could be valuable but its authenticity or attribution is uncertain.

Different purposes, different values

An appraisal states a value for a specific purpose, and the purpose changes the number. Retail replacement value, used for insurance, estimates what it would cost to replace an item by buying a comparable one at retail. Fair market value estimates the price a willing buyer and a willing seller, both reasonably informed and under no compulsion, would agree on; it is used for many tax and estate purposes. Marketable cash value or liquidation value estimates what an item would bring if sold quickly, often to a dealer.

These figures can differ substantially for the same object. That is normal. When someone quotes a value, ask which kind it is.

How appraisers charge

Reputable appraisers usually charge an hourly rate, a flat fee per item or a fee for the whole project. Professional appraisal organizations generally consider it unethical to charge a fee based on a percentage of the appraised value, because that rewards a higher number. Be cautious of free appraisals offered by someone who also wants to buy the item; their interest is in buying low.

Auction houses often provide free auction estimates for items they might sell. Those can be useful, but they are estimates of a likely auction result, not formal appraisals, and the auction house has an interest in winning your consignment.

Credentials and standards

Anyone can call themselves an appraiser, so look for training and accountability. In the United States, major professional organizations include the American Society of Appraisers (ASA), the Appraisers Association of America (AAA) and the International Society of Appraisers (ISA). Many qualified personal property appraisers also follow the Uniform Standards of Professional Appraisal Practice (USPAP), which sets out requirements for how appraisals are developed and reported.

Choose someone with expertise in your specific category. A specialist in fine art may not be the right person for sports memorabilia or antique firearms. For jewelry, look for gemological training from a recognized institution in addition to appraisal credentials.

Questions to ask before hiring

What are your credentials, and what is your experience with this type of item?
Do you follow USPAP or another professional standard?
How do you charge, and what will the total cost likely be?
Which type of value will the report state, and for what purpose?
Will I receive a written report, and what will it include?
Do you have any interest in buying or selling the item?

How to prepare

Gather everything you know about the items: receipts, previous appraisals, certificates, original boxes, letters, photographs and family history. Clean only surface dust, and do not polish, repair or restore anything before the appraisal, since that can reduce value. Make a list of the items with photographs, and decide in advance which items are most important so the appraiser's time goes where it matters.

Where ValU fits

ValU is designed for quick, everyday estimates: deciding whether something at a thrift store is worth buying, whether an item in a closet is worth researching, or what range to expect when selling. It is not a certified appraisal and should not be used for insurance, tax, legal or estate purposes. If a ValU estimate suggests an item could be valuable, that is a good signal to take the next step with a qualified appraiser.

What a good written appraisal includes

A professional appraisal report generally identifies the client and the intended use, states the type of value and the effective date, describes each item in enough detail to distinguish it from similar items, explains the method and the market evidence used, and lists any assumptions or limiting conditions. It is signed by the appraiser and often includes photographs. A one-line note with a number on it is not a full appraisal and may not be accepted by insurers, courts or tax authorities.

Appraisals have a date because values change. For insurance, it is common practice to update appraisals of valuable items periodically, especially for categories such as jewelry and precious metals where market prices move.

Common mistakes

Accepting a value from someone who wants to buy the item.
Using an insurance replacement value as an expected sale price.
Hiring a generalist for a specialist item.
Cleaning or restoring an item before it is examined.
Not asking which kind of value the appraiser is giving.

Alternatives for smaller collections

Not every item needs a formal appraisal. For collections of modest value, a combination of your own sold-price research, an informal opinion from a specialist dealer or collector club, and free auction estimates may be enough to decide how to sell. Some appraisers also offer verbal consultations or walk-through reviews at a lower cost than a full written report. These can help you identify which items, if any, deserve a formal appraisal. Just keep in mind that an informal opinion is not suitable for insurance, tax or legal purposes.

Whatever route you take, keep written notes of every opinion you receive, including who gave it, when, on what basis and whether they had any interest in buying the item. Those notes are useful if you later decide to commission a full appraisal or to sell.