The International Society of Appraisers (ISA) defines an appraisal as the act or process of determining value, estimating cost, or determining present worth earnings. Appraisals are opinions based on informed judgment, supported by facts and using specific methodologies. An appraisal is a complex document or statement that gives an educated opinion of value of a particular item, at a specific time with a defined purpose and function.
There are many reasons why an art appraisal may be necessary. Typical requirements are for insurance scheduling, estate tax, donation/charitable contribution, equitable distribution, damage/loss, asset management, estate planning, potential sale, and acquisition.
We possess extensive knowledge and experience in the fine art market and have completed formal education in appraisal theory, principles of valuation, procedures, ethics and law. Focal Point Appraisal is affiliated with the International Society of Appraisers (ISA). Continuing education in appraisal practice and report writing, as well as ongoing peer review of reports and practices.
All Focal Point appraisal reports are prepared in accordance with the Uniform Standards of Professional Appraisal Practice and Advisory Opinions (USPAP). We follow the ethical guidelines established by the Appraisal Foundation in Washington, D.C. (a board appointed by Congress as the source for appraisal and appraiser qualifications). Focal Point appraisals include color photographs, fully researched and fact based fair market values, itemized cataloging, as well as a statement of our methodology and basis for valuations.