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Qualifications
How do you recognize a qualified, professionally trained appraiser?
Until now, the federal government had not required appraisals to be conducted in accordance with any generally accepted appraisal standards, except their own. Now, however, the IRS will be looking for appraisal methodology that is consistent with the substance and principles of the Uniform Standards of Professional Appraisal Practice (USPAP), as well as “appraisals written by appraisers who are qualified.” These requirements for charitable gift donation and estate appraisals will finally impact the standards for all types of appraisals including insurance coverage and damage claim settlements in the moving and storage industry.
Under previous regulations, “qualified appraisers” were those who held themselves out to the public as appraisers or who performed appraisals on a regular basis and were paid for their services.
The new definition of “qualified appraiser” contains important additional criteria as discussed below.
1) An appraiser who has earned an appraisal designation from a recognized professional appraiser organization in the type of property for which the appraisal is performed.
2) The appraiser has successfully completed college or professional-level coursework that is relevant to the property being valued.
3) Two years of experience in the trade or business in valuing the type of property being valued
4) An appraiser will be treated as having demonstrated verifiable education and experience if the appraiser makes a declaration in the appraisal that because of the appraiser's background, experience, education and membership in professional appraiser association, the appraiser is qualified to make appraisals of the type of property being valued.
I am happy to say that my qualification stated below demonstrates my designation as a qualified appraiser.
I am a member of the International Society of Appraisers (ISA), the largest association of trained and tested personal property appraisers in the U.S. and as such all of my appraisals are prepared in conformity with and are subject to the standards and requirements set forth in the ISA's Code of Ethics and Report Writing Standard. In addition, appraisers are now required by the IRS to conform to the Appraisal Foundation's Uniform Standard of Professional Appraisal Practice (USPAP). I have taken the college course for USPAP and passed the examination and received my certification in 1994. Consequently, my appraisal documents follow the requirements laid out by ISA and USPAP as well as the other requirements specified by the Internal Revenue Service which have become the benchmark for the appraisal process and final appraisal document for estate appraisals. These standards become the benchmark for insurance appraisals as well as for other appraisal functions.
I am an approved appraiser for the Internal Revenue Service, Western Washington. I have served as an expert witness for the IRS District Counsel Lawyers and conducted museum appraisals for the IRS. I have testified in court for the IRS, corporations and for private clients and have never lost a case in my twenty-six years as an appraiser. I have participated in appraisal classes to qualify for courses in Certified Appraiser of Residential Contents and Fine Arts through Indiana University. My education includes a doctorate in the History of Art with specialization in European and American areas from the Renaissance to Modern art from Cornell University. I have also taught college courses at the Seattle Art Museum on Northwest art and have published essays in current books on the subject. For further information regarding my educational and professional experience, please see my resume.
Partial List of Clients
Chubb Insurance Company
First Interstate Bank
Fred Hutchinson Cancer Research Center
Internal Revenue Service
ITT Hartford Insurance Company
Key Bank Trust Department
Marsh and McLennan Insurance Company
Mason Clinic Art Collection
Rainier Bank Art Collection
Rainier Club Art Collection
Safeco Insurance Company
Seattle Sheraton Hotel and Towers Art Collection
Seafirst Bank
Seattle Post-Intelligencer Art Collection
Swedish Hospital Art Collection
Tacoma Art Museum
United Pacific Reliance Insurance Company
Washington State Consortium of Museums
Washington Athletic Club Art Collection
Weyerhauser Company Art Collection
Whatcom County Museum of Art and History