Ask an Instructor: Using Comparables
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Tuesday, May 29, 2018 in Ask an Instructor
ISA members are invited to send in their questions on all things appraising and education to ISA's instructors. One of ISA's instructors will share answers on the ISA Now Blog. Please send questions to directorofeducation@isa-appraisers.org.
Question: If I have more than one item in my appraisal that are similar in nature, can I use the same comparables for each of the items?
Answer: The answer is yes, if the comparables are indeed applicable to both items. For example, I have a client who likes to purchase two prints from the same edition for his collection. As such, when I'm appraising the works for fair market value, I include the same comparables for each print when the two are in the same condition. If the prints were not in the same condition, then I would not necessarily use the same comparables for each of the prints. If one had a condition issue, then I would first look for a comparable with a similar condition issue as the best direct comparable. If comparables of damaged prints were unavailable, then I would use the same comparable of one in good condition and then explain my reasoning of why I'm discounting the value of the damaged print.
- Meredith Meuwly, ISA CAPP
Director of Education