When selecting an appraiser, be sure you choose a qualified one. A professional appraiser helps manage risks.  Their value conclusions are based on judicious research and evaluation by providing an informed assessment of value rather than an “educated guess.” 

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The Internal Revenue Service (IRS) defines a qualified appraiser as:

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• One who has earned appraisal designation from a recognized professional appraisal organization or has met certain minimum education and experience requirements.

• Regularly prepares appraisals for which the individual is paid.

• Demonstrates verifiable education and experience in valuing the type of  property being appraised.

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An individual is treated as having verifiable education when they have successfully completed professional or college-level coursework and have three or more years of experience in valuing the relevant type of property. Professional appraisers are accredited/certified by one of three major personal property organizations—Appraisers Association of America (AAA), International Society of Appraisers (ISA), and American Society of Appraisers (ASA).