The San Diego Chapter of the American Society of Appraisers is dedicated to providing excellence in professional appraisal practices for the public and its membership. Learn more about this nonprofit organization in this special section. The 2012-2013 Board members are the following: President, Natasha Bonilla Martinez, Thompson & Martinez Fine Art Appraisals Inc.; Vice President, Louis F. Reese ASA, Lamplighter Appraisal Service; Secretary, Lydia D. Thompson, Thompson & Martinez Fine Art Appraisals Inc.; Treasurer, Cheryl Bostater ASA, Vantage Point Advisors Inc.; Past President, Eric V. Engstrom ASA, ProWest Appraisal.
Appraisers, in exercising due diligence – particularly for donation appraisals – must investigate to the extent possible the provenance and legal title of cultural property.
The law defines an expert as...
Most people believe that art, antiques and collectibles always appreciate in value. Not true! It is common for ‘objects of desire’ to go in and out of fashion. Monetary value is an expression of how many people with disposable income want something and they compete to keep the prices up in the market place. For example, an article in the September 21st New York Times Home Section, about the antiques market, noted that while Art Nouveau furniture was very popular in the 1980’s, it is currently out of favor, with prices much lower today than at that time. However, due to the current affordability, enabling dealers to acquire pieces for little money, the style was certain to be promoted again.
Golf isn’t just a hobby these days, with the increasing popularity of the sport comes increasing popularity in collecting golf related memorabilia. With the onset of Tiger Woods and the advent of advanced technologies in golf equipment, many people are interested in discovering the roots of the sport and collecting its memorabilia. Many are discovering that it has a history that is both old and storied. Golf is older than many of the sports we play in this country. Far older than baseball or basketball, in fact we know that the Scots were playing golf at least in the mid-15th Century, whereas baseball and basketball are 19th Century developments. In fact, the earliest known reference to golf comes from King James II of Scotland, who, in 1457, issued a ban on the playing of golf and soccer. Those games, James complained, were keeping his archers from their practice.
It is the appraiser’s responsibility to determine the appropriate market place relevant to the items under appraisal, so says USPAP (Uniform Standards of Professional Appraisal Practice). In most situations the scope of work -- the purpose and intended use of the appraisal -- will be an important element in deciding the appropriate market place for the items under consideration. If you are preparing an appraisal of the fair market value of items for estate purposes, is the appropriate market place for the item(s) different from that you might use if the appraisal is for insurance purposes? I think it often is, although there might be some situations where the two values intersect.