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The Importance of Due Diligence and Due Care in Appraising
Wednesday, April 21, 2021 in Education
My favorite part of USPAP comes directly from the Competency Rule: Perfection is impossible to attain, and competence does not require perfection. However, an appraiser must not render appraisal services in a careless or negligent manner. This Rule requires an appraiser to use due diligence and due care. (USPAP 2020-2021, lines 301-303)
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Ask an Instructor: How Bronze Disease Affects the Value of Art
Wednesday, April 21, 2021 in Ask an Instructor
Question: Does Bronze Disease affect the value of a work? From what I was reading, it seems to be a contamination problem with the bronze. Would the artist in any way be responsible for selling work that develops bronze disease?
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Using Sales After the Effective Date as USPAP Comparables
Tuesday, February 23, 2021 in Education
One of the best things about teaching Uniform Standards of Professional Appraisal Practice (USPAP) classes for ISA is that you never know what questions students will ask. At the ISA's January 13 to 14 7-Hour USPAP class an appraiser asked when it's okay to use a sale that occurred after the effective date of an appraisal as a comparable?
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Ask an Instructor: Updates to Appraisal Templates and the Difference Between Online and Live Online Courses
Tuesday, February 23, 2021 in Ask an Instructor
Question 1:Since the ASB announced that the 2020-2021 edition of USPAP will be extended to the end of 2022, do I need to update my appraisal templates?
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Ask an Instructor: New Definitions for Limiting Conditions and Extraordinary Assumptions
Tuesday, January 26, 2021 in Ask an Instructor
Question: Has ISA issued any new definitions for Limiting Conditions and Extraordinary Assumptions as yet?
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Do I Qualify for the ISA Specialty and Advanced Studies (SAS) Pathway?
Friday, December 11, 2020 in News, Education
Do you qualify for the SAS track to achieve Accredited Member (ISA AM) status?
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Fair Market Value and Replacement Cost - What’s the Difference?
Monday, November 16, 2020 in News
This is not an uncommon question in the Core Course in-person class, but it is even more common from the Core Course Distance Education students. The confusion is not limited to the beginner appraiser courses. I have also had requalification course attendees and students in the AF+DA courses who are not clear on the differences. Therefore, now seemed like a good opportunity to review the differences in use and the selection of comparables for these two objectives.
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Choosing Asking Prices for Replacement Costs
Monday, November 16, 2020 in Ask an Instructor
Question: A fine art print from the same print edition can often be found in multiple retail galleries with a range of different asking prices. How do I choose which asking price to use for replacement cost? Does the condition of the client’s print play a role in the selection of the comparable?
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Ethics in Review
Tuesday, October 13, 2020 in News, Education
Reviewing some basic ethics points is always a good idea. For instance, did you know that ISA recently updated its Ethics Code and Ethics Disciplinary Procedures? Do you know what type of behavior ISA regulates (and does not regulate)? What are some of the most common ethics complaints and missteps?
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Ask an Instructor: Limitations on Charitable Contribution Appraisals and on Art Donations
Tuesday, October 13, 2020 in Ask an Instructor
Question 1: I understand that the effective date for a non-cash charitable contribution appraisal is the date of donation and that an appraisal cannot be done any earlier than 60 days prior to donation, but is there a limit to when an appraisal can be done after the donation?
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