The Appraisal Process
Every appraisal is different, but all have several elements in common.
Inspection and Listing
Each piece of property to be included in the appraisal is thoroughly examined by the appraiser for condition, characteristics, and dimensions. When the item cannot be inspected due to loss, theft, or damage, the appraiser will make critical assumptions based on interviews with the owner and any prior photos. The information is recorded on the appraiser's worksheets or sometimes directly into a computer.
Photographs are taken to document the item's existence and to aid in research. Bonnie Rose Appraisal Services, Inc. creates a CD for every client with these photos of the appraised items for long-term documentation.
Market Analysis and Research
Our extensive research library, subscriptions to professional appraisal publications, auction surveys and over 30 years experience, all keep us abreast of current values for antiques, collectibles and ordinary residential contents. We have a vast network of experts that are consulted, when the need arises, for information in specialty fields or for very unique or rare items.
Value conclusions for appraisals are based on comparable sales analysis. Based on the type of appraisal being conducted, the appraiser will begin to look at the appropriate markets to be used as comparables. When these markets have been identified, the appraiser will then begin to investigate them in detail, looking for comparable items to compare to those being appraised. Today, this can include considerable research on the Internet. Research time includes the time taken to identify marks, verify dates, locate comparable sales data, investigate retail markets, and consult experts, if necessary. This produces an accurate report that protects you and your property.
Writing the Report
Consolidation of the Data:
The appraiser will begin to pull together the various pieces of research information and start arriving at preliminary conclusions of value. This is the formal analysis of the data gathered through the research.
Every aspect of the appraisal assignment will be detailed and explained, and a detailed listing of the items being appraised will be made. A complete appraisal report explains the type of value being sought and how the appriasal is to be used, the date and location of the inspection, the effective date of the value, a statement that the appraiser has no financial interest in the property, and the appraiser's signature. An analysis page is included that provides detail as to what criteria the appraiser used as a basis for value conclusions. Each item being appraised is listed with a detailed and accurate description, along with the value conclusion. Also included are the appraiser's qualifications to perform appraisal.
Headquartered in Asheville, NC, we serve businesses, professionals, and the general public in Western NC, Upstate SC, and Eastern Tennessee.