What is the difference between an appraisal and an e-appraisal? An appraisal is a binding evaluation of an object done in person. An e-appraisal is where you send a description and digital photos to a service that gives you an estimate of value based on the information you provide.
In situations where you need an appraisal, an e-appraisal will not work, since there is no direct inspection of the object. Cases in which you need an in-person appraisal: insurance purposes, to make IRS deductions on donations over $5000, estate tax liabilities, divorce, and functions in which litigation is a possibility. e-Appraisals can not authenticate an item.
How e-Appraisals Work
You must complete a form on the Web site and attach digital photos of your object. For a fee, you'll get a digital appraisal certificate within the specified time period. The e-appraisal is usually stored on the Web site permanently. I looked at three e-appraisal services. They all cost $20, they all take 3 business days to complete, and they all offer some method of displaying the results on a Web site without revealing your personal information, so you may include a link to the e-appraisal report in your online auction listing.
The biggest differences between these services are the appraisers themselves. Ask the Appraiser uses nine professional appraisers. Eppraisals.com uses a network of 700+ experts. AuctionWatch has a network of specialists overseen by four appraisers.
Buyers, if you see an e-appraisal posted on an auction listing, remember that the e-appraisal is based on the information given to the appraiser by the seller.
http://collectingchannel.com/cMart/cesATEIndex.asp
Fee: $19.95
Time to get e-appraisal: 3 business days
Stored on Web site? Yes; information provided by client with pictures is included so you know upon what information the appraiser based her value conclusion (no information about the client herself is provided for obvious privacy reasons)
Payment Methods Accepted: Mastercard, Visa, Am Ex
Appraiser Information: They have 9 professional appraisers (view their profiles at http://www.collectingchannel.com/cmart/cesEvlLstBio.asp?ata=).
Comments: A representative informed me that Ask the Appraiser is the only e-appraisal service that prepares the reports in conformance with the Appraisal Foundation's "Uniform Standard of Professional Appraisal Practice."
Eppraisals.com
http://www.eppraisals.com
Fee: $20
Time to get e-appraisal: 3 business days
Stored on Web site? Yes
Payment Methods Accepted: Visa and Mastercard
Appraiser Information: A network of 700+ experts with specialists in furniture, decorative and fine arts as well as categories like Star Wars and McDonald's memorabilia.
Comments: Eppraisals.com's primary business is online evaluations. It also offers a free expert referral service, and a "Second Opinion" service for buyers (see below)
AuctionWatch
http://www.auctionwatch.com/my/appraisal
Fee: $19.95
Time to get e-appraisal: 3 business days
Stored on Web site? Yes
Appraiser Information: Four AuctionWatch appraisers (http://www.auctionwatch.com/my/appraisal/experts.html":http://www.auctionwatch.com/my/appraisal/experts.html) are supported by a network of specialists in various collecting categories.
Buyers: Get a Second Opinion Before Bidding!
e-Appraisals are for owners of an item. But what if you are considering purchasing an item and would like a professional opinion about its value? Eppraisals.com offers a "Second Opinion" service to help you evaluate the auction item you are considering buying.
You fill out a form on the Eppraisals.com Web site, giving the online auction site and auction number of the item you are interested in evaluating. An Eppraisals.com expert will tell you if the item is listed correctly, give you an opinion on a reasonable price you should expect to pay for the item, and answer one question of your choice. The second opinion is stored on the Eppraisals.com Web site for 24 hours. It takes 48 hours to get the "Second Opinion" and costs $20.
Summary
e-Appraisals are only as good as the information you provide the appraiser. Appraisers cannot authenticate items without seeing them in person. Don't forget to check online forums - if you are polite and patient, you may find lots of people willing to help identify your item. But you know you are dealing with an expert when you use an appraisal service - that's why you are paying $20.
NOTE: Other appraisal services: eBay at http://pages.ebay.com/help/community/auth-overview.html and www.AppraiseItNet.com.
