Aim: Financial Blog for Members

Hiring an appraiser

June 18, 2014

Whether you’re clearing out a relative’s estate, looking for some extra cash or verifying your home insurance coverage, a professional appraiser is a great place to start when you’re trying to value your possessions. Ask for recommendations from antiques stores, your insurance agent, or even your local history museum.

A few things to keep in mind:

  1. Reputable appraisers may charge by the hour or by item. Be sure to find out how the appraiser will charge before proceeding.
  2. Get the appraisal in writing.
  3. Never sell your item to the person appraising it. The appraiser’s money is on the table, so he or she has a vested interest in low-balling its worth.
  4. Never use an appraiser whose fee is based on a percentage of the item’s worth. Again, this is a conflict of interest that won’t work out in your favor.

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