Strict self-regulation of the appraisal industry: The Appraisers Association of America

by leslierankowfinearts

Richard Avedon Photograph of painter Francis Bacon, Paris Courtesy of  Penelope Dixon and Associates

Richard Avedon
Photograph of painter Francis Bacon, Paris
Courtesy of Penelope Dixon and Associates

THE BEST APPRAISERS ARE EXPERT ART HISTORIANS AND DEALERS WITH IN-DEPTH KNOWLEDGE OF THE MARKET. THEIR KNOWLEDGE RANGES FROM OLD MASTER PAINTINGS TO CONTEMPORARY SITE-SPECIFIC WORKS. THE APPRAISERS ASSOCIATION OF AMERICA, ONE OF ONLY THREE U.S. BASED ORGANIZATIONS RECOGNIZED BY THE INTERNAL REVENUE SERVICE, IS THE PREMIER NATIONAL ASSOCIATION OF PERSONAL PROPERTY APPRAISERS. THE APPRAISERS ASSOCIATION OF AMERICA PROVIDES SECURE CREDENTIALS IN A SELF-REGULATING INDUSTRY.

COLLECTORS, TRUST ATTORNEYS,  INSURERS, MUSEUMS, AND FAMILY FOUNDATIONS WHO RELY ON APPRAISAL SERVICES FOR THE FINE AND DECORATIVE ARTS DEPEND ON THE AAA FOR THE APPRAISAL CREDENTIALS THAT ARE ESSENTIALLY THE EQUIVALENT OF A LICENSE IN SUCH FIELDS AS REAL ESTATE.  THE  APPRAISERS ASSOCIATION HAS FINE-TUNED A RIGOROUS ADMISSIONS PROCESS TO INSURE ITS MEMBERS HAVE THE HIGHEST STANDARDS OF CONDUCT, ETHICS AND PROFESSIONALISM. AS IMPORTANTLY, IN MY VIEW, IT REQUIRES ALL ACCREDITED AND CERTIFIED MEMBERS TO CONTINUE THEIR PROFESSIONAL DEVELOPMENT IN THEIR AREAS OF SPECIALIZATION AND TO STAY CURRENT WITH EVER-EVOLVING GOVERNMENT REGULATIONS AND MARKET TRENDS.

I AM VERY PLEASED THAT BETTY KRULIK, PRESIDENT OF THE APPRAISERS ASSOCIATION OF AMERICA AND PRINCIPAL OF BETTY KRULIK FINE ART SPECIALIZING IN 19th AND 20th CENTURY EUROPEAN AND AMERICAN ART, WILL ENRICH OUR KNOWLEDGE OF THE ART APPRAISAL INDUSTRY IN TODAY’S LRFA BLOG. http://www.appraisersassociation.org/ 

Betty Krulik Board President  Appraisers Association of America

Betty Krulik
Board President
Appraisers Association of America

 

BETTY, THANKS SO MUCH FOR YOUR CONTRIBUTION ON THE AAA. IT IS MY UNDERSTANDING THAT THE APPRAISAL INDUSTRY IS SELF-REGULATED. WHAT ARE THE MEMBERSHIP REQUIREMENTS AND NECESSARY CREDENTIALS TO JOIN?

 For our Certified members, the highest level of membership, candidates must have 3 stellar recommendations; they have to have a minimum of 5-10 years of appraisal or valuation (by that, I mean working every day in the trade as auction house expert, or gallerist) experience. They also have to have special training in Valuation Principles, Methodology, Ethics and Legal and report writing. Then they must submit appraisals that are USPAP (Uniform Standards of Professional Appraisal Practice) compliant. And take a rigorous examination in their area of specialization. There are a certain number of credit hours that are necessary to conform with the Standards put forth by the Appraisal Foundation in Washington, of which we are a sponsor. We are not licensed by the state, like the Real Estate Appraisers, and therefore, the Associations must strictly vet their members. We also have continuing education requirements, which the organization oversees, and reports on to the Appraisal Foundation in Washington.

We have Ethics and By-Laws that govern our members, and they are held to a very high standard.

Wine Appraisals Chateau Latour Pauillac 1929 Courtesy Charles Curtis, MW, AAA

Wine Appraisals
Chateau Latour Pauillac 1929
Courtesy Charles Curtis, MW, AAA

WHAT ARE THE DIFFERENT LEVELS OF MEMBERSHIP?

Certified Members are our highest level of membership representing those appraisers who have the most extensive level of expertise, education and experience.

Accredited Members are our core membership level, representing those appraisers with significant expertise, education and experience.

Life Member/Life Certified Member: our long-time members, who are 75 years of age or older, who have been members of the Appraisers Association for over 25 years, and who adhere to USPAP.

ARE THERE AFFILIATED GROUPS OF PROFESSIONALS THAT ARE INCLUDED UNDER THE AAA UMBRELLA?

The following groups are non-voting affiliates, and are not appraisers, This group has access to the highest credentialed appraisers in the industry, and may be on the path to membership at some time in the future.

Emeritus Members: our long-time members, who are 75 years of age or older, who have been members of the Appraisers Association for over 25 years, and who do not adhere to USPAP.

Associates: aspiring appraisers who have completed the Appraisal Studies Program with our academic partner, NYU/SCPS, and other appraisal studies courses

Student Affiliates: current students in the NYU School of Professional Studies Appraisal Studies Program.

Allied Professionals: those professionals who are involved in the broader field of collections management such as attorneys, insurance professionals, dealers and young galleriests, auction specialists, conservators, collectors, educators and others.

Furniture appraisal courtesy of Abigail Hartman Associates

Furniture appraisal
courtesy of Abigail Hartman Associates

HOW DOES ONE JOIN THE APPRAISERS ASSOCIATION OF AMERICA?

Membership is a process; for those coming into the field we have a partnership with NYU’s School of Professional and Continuing Studies, where one can achieve a certificate in Appraisal Studies, then spend time in the field before applying for full membership, as an accredited member.

For someone like you, Leslie, with great experience building collections, deeply immersed in the business, there is a certified track (that is how I came into the organization). We have courses that help the candidate with the methodology, ethics, legal and report writing. Then one must submit reports and pass a certification examination. This is a rigorous process, and subject to peer review.

It is a very personalized process, anyone interested in membership should contact our office. 

Telephone: 212.889.5404, x13

Email:         membership@appraisersassociation.org

Garland Dress from Wizard of Oz Courtesy of Laura Wooley, AAA (The Collector's Lab)

Garland Dress from Wizard of Oz
Courtesy of Laura Wooley, AAA (The Collector’s Lab)

WITH THE FLUCTUATIONS OF VALUE IN THE ART MARKET, WHAT ARE THE WAYS THAT MEMBERS AND COLLEAGUES CAN LEARN ABOUT NEW DEVELOPMENTS AND RELATED ISSUES IN THIS FIELD?

We are constantly providing educational programing through our Educational arm, called the Appraisal Institute of America, which was established in 1986. regarding specialist areas. The national conference is wildly informative, as well as a great opportunity for members to meet each other for future collaboration. We have programing for members and the general public; our Herrick Series held at Herrick Feinstein’s beautiful auditorium features Legal and Ethical issues. The Fireman’s series at the National Arts Club, are connoisseurship lectures by recognized experts (members and non-members, alike). All of these are available on our Events and Education pages of the website.

IN OUR LAST LRFA BLOG WITH BETTY, WE WILL LEARN ABOUT THE VARIOUS OPPORTUNITIES THE AAA OFFERS TO GAIN CERTIFICATION, ITS AFFILIATION WITH NYU,  AND SOME OF ITS FUTURE PROGRAMMING AND EVENTS.  DO TAKE ADVANTAGE OF BETTY’S EXPERIENCE AND KNOWLEDGE IN THIS FIELD AND POSE ANY QUESTIONS THAT WERE NOT INCLUDED HERE.

UNTIL THEN!