The Appraisers Association of America is a leading association of personal property appraisers who focus on fine and decorative arts. The group’s latest guidebook, Appraising: The Definitive Guide to Valuing Fine Art, Decorative Arts & Collectibles, Volume 2, was published this September, so we caught up with executive director Linda Selvin to discuss both the book and the organization’s mission.

For our readers who may not be familiar with the Appraisers Association of America, could you tell us a little about the organization and what you do?

We are the oldest, premier professional association for appraisers in fine arts, decorative arts and collectibles, referred to as personal property. Established in 1949, our mission is to develop and promote standards in the profession of appraising and to impart those to our members to ensure public trust. Since there’s no licensing in the field of fine and decorative arts appraisers, credentialing from the Appraisers Association is key to safeguarding the public.

In 1983, we established the Appraisal Institute of America (AIA), our educational foundation. Programs that the AIA provide include our annual conferences — the National Conference and Art Law Day and webinars and in-person programming throughout the year.

In 2016 we launched our Comprehensive Appraisal Studies Program (CASP). The program trains individuals who are interested in becoming appraisers who have little or no market experience or are very early in their career or who are career changers. Our students are just remarkable! They come to us with connoisseurship, and we provide them with theory and methodology.

How is Appraising: The Definitive Guide to Valuing Fine Art, Decorative Arts & Collectibles, Volume 2,
organized?

We have three sections in the book, the first being “Theory and Methodology,” the second is “The Business of Appraising” and the third is “Connoisseurship.” There are 50 articles in total in the book. Eight articles have been updated from Volume One and 42 new articles include topics such as Latin American art, media art and ultra contemporary art. Other topical articles feature wine and spirits and collector cars. We really wanted to address some of these newer areas of collecting that our appraisers are seeing. Of course, we do have more traditional areas such as English and continental furniture and European Impressionist art. It really runs the gamut of collecting.

Could you give an example of an article that is found in each section? What are some of the subjects?

Under the section of “Theory and Methodology,” there’s an article on the Appraisal Review. Many of the topics in this section cover issues that an appraiser would be confronted with when appraising. Another addresses appraisals where a loss of value must be determined. Others discuss valuation approaches and the writing of an appraisal.

In the section on “The Business of Appraising,” there are articles on legal issues affecting personal property appraisers and the need for due diligence by the appraiser. The Appraisal Foundation, which is a congressionally authorized organization, issues a set of standards called the Uniform Standards of Professional Appraisal Practice, or USPAP. These are the industry standards for appraisers of personal property, real estate and business. USPAP provides the best practices for appraisers — the standards. Our appraisers are all required to follow them. In “Business of Appraising”, there’s an article about meeting the qualification and standards for USPAP. What if you can’t find comparables? What is your responsibility then? Within that article, there’s a section regarding non-discrimination and ethical responsibility of an appraiser. Another article in this section covers working with other appraisers when their expertise is needed.

In the “Connoisseurship” section, we have additional essays on media art, public art, street art, ultra-contemporary art, art of the American West, Asian export art, Chinese art, animation art, post-war contemporary design and contemporary ceramics and glass and many more.

Who are the book’s contributors?

Many of them are certified members of the Appraisers Association whose areas of expertise connect to their topics; there is an article by renowned art and cultural economist Claire McAndrew; several well-known conservators; art attorneys from contractual, restitution and tax areas; scholars involved in catalog raisonné work; and a scientist who contributed an article about preservation and materials and their standards. They’re really all leading professionals in their respective fields.

Who is the target audience for this text?

We find that not only appraisers but also collectors, gallerists and insurance professionals are interested in the book. The book provides insight into the history of the works being discussed, then contextualizes it in today’s market and discusses important aspects of the discipline that need to be understood when appraising it. Our broad readership is interested in context for appreciation and its value. As we know, art and collectibles have found many audiences, not least of which are those that collect for investment purposes.

How will the book change the current conversation around art appraising?

I think it will be informative. The book educates the appraiser and the public on aspects that are not available in other publications. Knowledge is power, and as appraisers, collectors or those with an interest will become better informed at what they are looking at and to make decisions.

—Carly Timpson

Editor’s note: Appraising: The Definitive Guide to Valuing Fine Art, Decorative Arts & Collectibles, Volume 2 is available for purchase at www.appraisersassociation.org.