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A Note from the Co-Editor: As an appraiser, I frequently invite new clients to send me pictures of their items so I can review them in advance and better assist with designing an appraisal scope of work that is most appropriate to their needs. There are some objects that are not well-suited for evaluating through photographs.
Replacement cost comparable is the cost necessary to replace an item of personal property with an equivalent item having similar appearance, quality, condition, age, authorship, and utility within a reasonable amount of time in the relevant marketplace. Note that the definition of replacement cost comparable mentions age.
Actual Cash Value is Retail Replacement Value minus depreciation, which can be a deduction made for age, damage, or another factor. Many of my clients reach out to me not quite sure what they need and our subsequent discussion of the appraisal scope of work clarifies what type of report will be best suited for their situation.
Develops scopes of work for appraisal, cataloging, and other documentation activities. Produces audio and video content for special programs to promote conservation and preservation work. Seeks, prepares and submits grant proposals related to the collections and manages funded projects.
Condition is the very first thing I look for when inspecting a work! The condition of a work plays a large part in the final value assignment. If a work is in pristine condition, especially for its age, it would have a higher value than a work with a lot of craquelure issues or paint loss.
Oversees the work of contract conservation work, both on and off site. Prepares “Requests for Proposals” (RFPs), identifies qualified bidders, develops scopes of work, and reviews contract conservation proposals.
A signature trait of Corten metal panels is that they weather and age over time: the patina becomes part of the visual appeal. A part of this certification asks you to state whether you have (or have not) made an in-person inspection of the property that you’ve been asked to appraise as part of the scope of work for the assignment.
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