Reply by Dorothy_MI on 3/6/07 11:37am
Msg #178465
Re: Depends on what you're appraising ...
Of course, in the Diamonds, jewelry, art, antique arena you will have people that have decades of experience dealing with these products that are much more experienced in true wholesale, retail prices. The biggest difference between the fine arts, gems, etc. vs. real estate appraising is that most of the personal property appraisers are putting their money where their mouth is because they are also dealers. It's one thing to say House X is worth Y when it's not YOUR money that is riding on the outcome. So they're off $1,000 - $10,000 - it's not their future that's involved, but when you're planking down hard earned cash you very quickly learn that those kinds of mistakes can make the difference whether you stay in business or not. This real buying and selling information then translates over into the personal property appraisal business. And it is still an Art and not a science. When Sotheby's tells you that your painting should bring $XXX,XXX (and that is an appraiser, just not a written one) and the right people are in the room the painting can bring much, much more. Conversely, if the right people are not there it can bring much, much less.
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Reply by PAW on 3/6/07 9:31am
Msg #178445
I know of two home appraisers locally, that are looking for other work. There just isn't the need for as many as there currently is. Besides that, it takes a long time to be certified. You may have to work as an apprentice for weeks, months, even years (depending on the locale) to get certificated.
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