FAQ
APPRAISAL FAQ (Frequently Asked Questions)
How much do you charge for an appraisal?
The fee for written appraisal work is $200 per hour. This fee includes a thorough personal inspection of each item, photography, market research, and preparation of a bound appraisal report prepared to industry standards, plus a copy of the report in Microsoft Word form for computer storage. This report may be used for insurance and for legal functions, such as charitable donation or probate. Please contact me by e-mail: [email protected] , so I can send you sample pages for a written appraisal. Travel and related expenses are not included for appraisals outside of New York City.
What if I only want to know what an item is worth?
I can provide you with a Verbal Approximation of Value, which gives you an approximate range of the value of your item. However, it is not valid for insurance or legal functions. My verbal appraisal rates are $100 per item when there are ten items or less. This fee is lowered incrementally when more than ten items are offered for verbal appraisal, going as low as $50 per item. Travel and related expenses are not included for appraisals outside of New York City.
Aren’t all Judaica appraisers the same?
No. The federal government does not license or certify Judaica appraisers. Anyone can claim to be a Judaica appraiser, having no training or experience. Even appraisers who claim to have “passed a Judaica exam”, generally have little true knowledge of this often confusing field, and they “farm out” part, or all of the Judaica appraisal they have been hired to work on! (I am frequently “farmed out to”, as I am not as well known as other appraisers who have been in the business of appraising, in some cases, since before I was born).
Why should I hire you instead of so-and-so? That person also claims to be an expert in Judaica.
Here are some questions you should ask my competitors. If any are in the negative, the choice should be clear.
1) Is the appraiser fluent in reading and writing in Hebrew? This is important for obvious reasons, such as being able to translate inscriptions, dates, or other types of text. Don’t take “Yes, of course” for an answer --- test this person by giving them a passage in Hebrew to read, and ask them to write it out. On another level, a truly knowledgeable person in antique Judaica should be able to instantly recognize the subtle differences in Hebrew engraving or decoration that for example, purport to be 18th century German, as opposed to 18th century Galicia. Not recognizing differences such as this can result in mistakes in the appraisal that could miss thousands of dollars of value, or conversely, appraise it for too high an amount and the appraisal be challenged at a later date.
2) Does the appraiser have a certificate stating he or she has passed USPAP? Taking the course in Uniform Standards of Professional Appraisal Practice and passing the exam is an essential part of being a qualified appraiser who is familiar with all different types of appraisals, how to professionally compose an appraisal report, and is familiar with IRS laws concerning appraisals. Hiring someone who is not USPAP certified can be quite detrimental to you, even if this person is exceptionally qualified regarding Judaica.
3) Does the appraiser have an immediate answer when asked how much they will charge you? If not, this is because they need a few hours or even a day to “size you up”, and charge you what they think you should be able to afford based on your economic level. If the appraiser gives you an answer such as “20% of the value of what I am appraising”, that is the number one red flag, as that statement is unethical and against all accepted appraisal norms.
Why do I need to pay for the time that an appraiser spends to conduct research? Shouldn’t appraisers be familiar with the value of most items?
While I can often estimate an object’s worth based on my knowledge and experience, I still must conduct market research at the time of the appraisal so that my values are concurrent with the effective date of the appraisal, because art and antique markets fluctuate just like the stock market. I keep these dated comparable sales records in my work files, and in some instances in the appraisals themselves, to support the valuations should the appraisal ever be challenged by the IRS, an insurance company or another third party.
Do you ever charge on a percentage basis?
No. Appraiser ethics prohibit charging a fee based on a percentage of the value of an item. I charge an hourly rate or negotiate a fee upfront for large projects.
If I want to sell something, will you buy it?
No, so you need never worry that your appraised item was undervalued in order that the appraiser could profit by purchasing it at a low price. I can make recommendations on the best way to sell your art or antique, or where to go to sell the item.
Will you authenticate my Judaica?
Yes. Appraisers generally are not qualified to authenticate, however because I am in such a niche field, 99% of the time, I can determine if an item is authentic or a forgery. It there is still a question of authenticity after I have examined the item, I can do further research or I will refer you to an appropriate recognized expert authenticator.
Appraisal Services
IRS non-cash charitable donations
Insurance inventory for private collections, synagogues and museums
Review appraisals for the legal and insurance industries
Tsadik Kaplan is your source for unbiased, third-party, professional valuations:
- 18 years of hands-on expertise with Jewish art, artifacts, ceremonial objects, archives
- Service to museums, synagogues, insurance agents, attorneys, and wealth managers
- Professional care to private clients and their heirs
Highest ethical and appraisal levels: certified in Uniform Standards of Professional Appraisal Practice (USPAP), on March 7, 2012
I offer my services as an expert witness in court and for insurance review disputes. Calls from the legal and insurance professions are kept in confidence, (212) 714-7796.
I am located in New York City.