Faith Hensley, ISA, AM, Fine Art

When appraising fine art prints, especially those from the same edition, it is common to encounter a wide range of asking prices across different retail galleries. This variability can create confusion when determining which price to use for insurance appraisals. The key lies in two important considerations: the condition of the client’s print and the venue the client shops.

A common but important question is: Where should an appraiser sign their report? While it may seem like a small detail, signing the report correctly is essential for compliance with both USPAP and ISA Appraisal Report Writing Standards.

Question: Is it possible to produce a Restricted Appraisal Report for multiple parties and still remain USPAP compliant?

Question: Item #36 on the 2021 ISA checklist says that I need to include a "statement as to how IRS Form 8283 is being handled, if the form is needed. How do I do this?