Andra Russek, a qualified appraiser, prepares appraisals for Insurance, Donation, and Estate purposes and is compliant with the Uniform Standards of Professional Appraisal Practices (USPAP).

Insurance Appraisal: An insurance appraisal provides a current retail replacement value of an artwork, or an entire collection. The appraisal will help protect your property if there is any loss or damage. These appraisals are prepared as a fully detailed and researched report that can be presented to an insurer.

Donation Appraisal: A donation appraisal is required by the IRS when a donation has a fair market value greater than $5,000. These appraisals must be written by a qualified appraiser and be submitted to the IRS with a signed Form 8283.

Estate Appraisal: The IRS requires an estate appraisal on estates with property valued over a specific amount. A qualified appraiser must write these appraisals and use a fair market value.

From IRS form 561: 

Qualified appraiser.

A qualified appraiser is an individual with verifiable education and experience in valuing the type of property for which the appraisal is performed.

  1. The individual: 

    1. Has earned an appraisal designation from a generally recognized professional appraiser organization, or

    2. Has met certain minimum education requirements and two or more years of experience. To meet the minimum education requirement you must have successfully completed professional or college-level coursework obtained from: 

      1. A professional or college-level educational organization,

      2. A professional trade or appraiser organization that regularly offers educational programs in valuing the type of property, or

      3. An employer as part of an employee apprenticeship or education program similar to professional or college-level courses.

  2. The individual regularly prepares appraisals for which he or she is paid.

  3. The individual is not an excluded individual.

 

In addition, the appraiser must make a declaration in the appraisal that, because of his or her background, experience, education, and membership in professional associations, he or she is qualified to make appraisals of the type of property being valued. The appraiser must complete the Declaration of Appraiser section on Form 8283, Section B. More than one appraiser may appraise the property, provided that each complies with the requirements, including signing the qualified appraisal and the Declaration of Appraiser section on Form 8283, Section B.