313-885-8861


Frequently Asked Questions


What is an appraisal?

An appraisal is an opinion of value at determined date. It is expressed as a $ amount or $ range, and is based on documented comparables. It is typically a written report, but occasionally oral reports are provided.


Who is a qualified appraiser?

Currently there is no standards for personal property training. However, a "qualified" personal property appraiser (per U.S. Treasury definition) should have completed formal training is three areas: Appraisal Principles and Methodologies, Uniform Standards of Professional Appraisal Practice (USPAP), and Specialty Area(s). Formal training programs are offered by the major appraisal societies: International Society of Appraisers (ISA), American Association of Appraisers (AAA), Association of On-line Appraisers (AOA), National Association of Watch and Clock Collectors (NAWCC), and Appraisal Course Associates. Some Universities offer appraisal courses as part of their Fine Arts curriculum.


What is personal property?

Personal property is any tangible or portable property which is considered by the general public as being "personal" ie. items which are decorative, utilitarian or collectable such as furnishings, artwork, antiques, gems, jewelry, machinery, equipment; all property that is not classified as real estate.


Why would I need an appraisal?

Learn about your clock(s)
Sales Advisory - determine value of your collection
Insure an antique clock or submit insurance claim
Non-cash charitable donation greater than $ 5000 to satisfy IRS tax regulations
Divide property equitably for estate or divorce purposes
Assist with estate planning and establishing net worth


How are fees charged?

Fees are based on an hourly charge for: conducting on-site inspection and documentation, researching and value determination, and preparing appraisal report.


Appraisal Reports:

There are three types of written appraisal reports based on varying requirements; they differ in their level of documentation and detail, and can vary between 10 to 20 plus pages in length.

Self-Contained - highest level of documentation for non-cash charitable donation
Summary - next highest level of documentation for insurance (obtaining or settling a claim)
Restricted - minimal details for sales advisory (client only)
 

 

Clock Appraisals Metro Detroit - Southeast Michigan - and beyond

  • Insurance
  • Estate
  • Tax
  • Divorce
  • Equitable Division
  • Sales Advisory
  • Donation
  • Appraisal reports comply with (USPAP):
    Uniform Standards of Professional Appraisal Practice


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    2011 Pointe Clock Appraisal LLC.    |    P.O. Box 361255 Grosse Pointe Farms, MI 48326    |    313.885.8861    |     andy@pointeclockappraisal.com

     

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