Appraisers of Personal and Business Property
Overview
Appraisers of Personal and Business Property carefully examine items such as jewelry, artwork, antiques, collectibles, business equipment, and sometimes land to determine their fair dollar value. They research recent sales using databases and specialized software, take precise measurements and photos, and choose the right valuation method—such as fair market, replacement, or liquidation value—based on the owner’s needs, like insurance, loans, or sales. They write detailed, professional reports, may update values after damage or repairs, and can even testify in court to explain how and why they arrived at a specific value.
Did you know?
Most states require appraisers to obtain specific licenses and complete continuing education to maintain certification.
At a Glance
Growth
Stable
Top Skill
Technology Design
Key Responsibilities
- Write descriptions of the property being appraised.
- Inspect personal or business property.
- Verify that property matches legal descriptions or certifications.
- Testify in court as to the value of a piece of tangible property.
- Take photographs of property.
- Forecast the value of property.
- Create and maintain a database of completed appraisals.
- Calculate the value of property based on comparisons to recent sales, estimated cost to reproduce, and anticipated property income streams.
- Recommend loan amounts based on the value of property being used as collateral.
- Document physical characteristics of property such as measurements, quality, and design.
- Update appraisals when property has been improved, damaged, or has otherwise changed.
- Locate and record data on sales of comparable property using specialized software, internet searches, or personal records.
- Determine the appropriate type of valuation to make, such as fair market, replacement, or liquidation, based on the needs of the property owner.
- Write and submit appraisal reports for property, such as jewelry, art, antiques, collectibles, and equipment.
Career Considerations
State Licensing Requirements
Most states require appraisers to obtain specific licenses and complete continuing education to maintain certification.
Market Volatility Impact
Economic fluctuations and real estate market cycles significantly affect demand for appraisal services and income stability.
Technology Integration
The industry is rapidly adopting automated valuation models and digital tools, requiring appraisers to adapt their skills and methods.