Appraiser and author Judith Katz-Schwartz will host an online chat discussion on the CollectingChannel.com on the topic of online appraisals and how they work. "In these days of online auction buying, an online appraisal can help the client decide whether or not to purchase an item," Katz-Schwartz said.

Online appraisals are different from traditional appraisals. An appraisal is a binding evaluation of an object done in person. An online appraisal involves sending a description and digital photos get an estimate of value based on the information provided, and is not binding.

Judith Katz-Schwartz is an independent appraiser and an appraiser on CollectingChannel.com's Ask the Appraiser. She was one of the first antiques dealer to take her business online, starting the Twin Brooks Web site in 1993.

"Online appraisals come with background and other useful information, including recommendations for further research, so they can be very educational," Katz-Schwartz said. "And, they're fast and very reasonable in cost."

However, in situations where you need an appraisal, such as insurance purposes or to make IRS deductions on donations over $5000, an online appraisal is not appropriate, since there is no direct inspection of the object.

You can participate in the chat forum by going to the "Meet the Experts" Chat Room tonight, September 24 from 8-9PM (ET) on http://www.collectingchannel.com.