FaFa Appraisal since 2007  Robin Gross Fine Art Appraiser  P.O. Box 25143 Kansas City, MO 64119             Home      Services      Credentials      Discover Home Mail: robin.gross@fafa.ws



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 Intended Use of Appraisals


The starting point of an appraisal assignment is to identify the intended use of the appraisal. Commonly, uses are:


Charitable Donations - determines the Fair Market Value of property given to an IRS qualified organization to establish the donor’s IRS permitted tax deduction.


Damage and Loss - determines the Replacement Value of lost or damaged property and/or the amount of loss to the Fair Market Value resulting from the damage.


Estates - determines the Fair Market Value of property for estate planning or the estate’s final tax return.


Equitable Distribution - determines the Fair Market Value or Marketable Cash Value for jointly owned (couples, business associates, corporations) property or for asset distribution among heirs.


Financial - determines the Fair Market Value of property for asset management, loan collateral, or other related financial matters.


Insurance - determines property’s Replacement Value for appropriate insurance coverage.


Litigation - determines the Fair Market Value for property in dispute.


Sale / Purchase - determines the Marketable Cash Value and/or Fair Market Value of property in anticipation of a potential sale or purchase.




 Appraisal Report Contents


Properly prepared appraisals are written reports which comply with Uniform Standards of Professional Appraisal Practice (USPAP). They are based upon established appraisal principles, theories, practice methods, and code of ethics. They are legal documents prepared for Clients, which can include individuals, courts, institutions, businesses, and other intended users. They involve more than simply listing property and attaching ‘guestimates’ of value.


The content and format of each appraisal report varies according to the specific assignment. To meet the American Society of Appraisers standards, the Appraisal Report should contain the following information:


Cover Page

Table of Contents

Transmittal Letter

Signed Certificate

Scope of Assignment

Subject Property Description

Market Analysis and Valuation Conclusion

Limiting Conditions

Sources and Authorities Cited

Privacy Policy Notification

Appraiser’s Credentials

Glossary

Photographs


Reports prepared in compliance with IRS specifications are more extensive. These reports include a State of Compliance with IRS regulations. Applicable forms, such as Form 8283, are included.




 Appraisers and Competency


The field of professional appraisal dynamically revises its standards, practice methods, and code of ethics. The intent is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for professional appraisal. Personal property appraisers are not licensed; however, there is a body of legal, financial, business, marketplace, and practice-specific knowledge and techniques which the professional appraiser continually pursues to keep abreast of evolving developments.


Choosing a professional, competent, and qualified appraiser means checking credentials. The following questions can assist you in assessing qualifications, professionalism, integrity, and overall ability to assist you:



My specialty areas are Fine Art (painting, prints, drawings, and sculpture) and Antique Chinese Furniture. For property outside my specialties, I access colleagues who have respective expertise. I am pleased to recommend reliable appraisers for projects outside of my and my colleagues fields. I encourage Clients to seek appraisers who are members of non-profit appraisal organizations that test and accredit members, who require adherence to strict ethical standards, and who comply with the Uniform Standards of Professional Appraisal Practice, the only Congressionally recognized, accepted, and sanctioned set of appraisal standards promulgated by The Appraisal Foundation.




 Fees


I aim to work efficiently and effectively; allocating my time appropriately as the property warrants. All services are charged at an hourly rate plus expenses. The fee is never contingent upon a predetermined conclusion of value, the attainment of a stipulated result, or a direction in value that favors the cause or you, the Client.


Payment. For your convenience, checks, cash, and credit cards are accepted.



Discover

Intended Use of Appraisals

Appraisal Report Contents

Appraisers and Competency

Fees


Imagination is more important than knowledge. For knowledge is limited to all we now know and understand, while imagination embraces the entire world, and all there ever will be to know and understand.


Albert Einstein