CONTENTS OF AN APPRAISAL REPORT
The appraisal report serves as a legal document and adheres to Internal Revenue Service Standards and those set by the Appraisal Foundation’s Uniform Standards of Professional Appraisal Practice.
- The report will state the purpose of the appraisal and history of ownership (provenance).
- The monetary value conclusions and prescribed methods of research will be documented.
- The objects appraised will be described in detail regarding their present condition.
- The effective date of value and location of inspection will be included.
- Photographs taken of the art by the appraiser will be enclosed.
- Recommendations will be made for preserving the art if needed.
- Biographical information about the artists will be included when available.
- A bibliography of the sources used will be listed.
- A glossary will define terms used in the report.
- A disclaimer and limiting conditions section will be provided.