The fastest and most cost effective report option is an Oral Appraisal with an abbreviated Oral Appraisal Report Disclosures form (OARD - see below).
Complex and challenging appraisals with certain intended uses often require a formal report which can be an abbreviated (restricted) or a comprehensive appraisal report.
Opinion development and reporting follow the appraisal proce
The most important part of of any appraisal begins with careful discussion with the client to completely understand and identify the client's intended use, intended users, their needs and much more including other objectives, priorities, deadlines, budget and cost. Only then can the decision be made by the appraiser to accept the assignment and determine which appraisal report type is best for you. Only then can any appraiser of personal property and residential contents proceed to determine and conduct the scope of work necessary, and then meaningfully report the appraisal or valuation solution while meeting the USPAP & ISA appraisal reporting requirements. The burden is on the antique appraiser online to credibly, competently and ethically solve the problem presented and provide a proper report, whether oral (see below) or formal.
All personal property appraisers should comply with the Uniform Standards of Professional Appraisal Practice (USPAP). Novotny teaches USPAP to personal property appraisers. Please review his AQB Certified USPAP Instructor Certificate at the bottom of this page. The OARD form below fulfills all minimum reporting elements required by USPAP so that the report is meaningful and properly understood.
The "Oral Appraisal Report Disclosures" (OARD) form provides context to make the oral appraisal report meaningful and properly understood by clients and intended users. An oral report without proper disclosure and context is simply not sufficient for proper understanding. All onsite and remote online appraisals require proper disclosure of limiting conditions, assumptions and the scope of work conducted as well as the appraiser's signed USPAP Certification.
An OARD form provides context for proper understanding of the oral personal property appraisal report. All appraisal report options have applicable USPAP requirements. Only one of the appraisal report options is chosen to ensure the appraisal report is meaningful to the client and intended users.
What are the personal property appraisal report options:
A Restricted Appraisal Report (RAR) is an abbreviated formal appraisal report type, formally prepared by the appraiser as an alternative to the similarly formatted OARD form based oral report.
Formally prepared report formats are offered when appropriate to a specific intended use, usually for legal purposes or estate or trust management when special care and diligence is required. In some instances a more comprehensive formal personal property appraisal report is required such as for litigation support or IRS tax calculation purposes.
Critical decisions relevant to preparing a meaningful report are directly linked to intended use such as the effective date, definition of value, the approach to value and determination of the relevant market. Intended use drives critical decisions. Some common intended uses include:
The public must have a basis for their trust. Online personal property appraisers are obligated at all times when performing as an appraiser to comply with the current edition of Uniform Standards of Profession Appraisal Practice (USPAP, 2020-2021).
Bill Novotny was the first personal property appraiser to be certified (2002) by the Appraisal Foundation as an "AQB Certified National USPAP".
All appraisers must update to current minimum USPAP Standard
The minimum standards (USPAP) that apply to every appraiser are currently updated every two years to ensure personal property appraisers stay current and protect the public trust. Credible appraisals are vital to the national economy. The public needs appraisers and must have a basis for trust. The Appraisal Foundation was identified by Congress as the source of minimum Standards and Qualifications for all appraisers.
In 2002 William (Bill) Novotny was the first personal property appraiser in the USA to be certified by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation (TAF) to teach USPAP to all personal property appraisers. He has remained certified ever since and regularly teaches USPAP classes on nearly a monthly basis to personal property appraisers. His current "AQB Certified USPAP Instructor Certification" is current until early 2022 and is shown below. Find out more!
USPAP follows the appraisal process in every new appraisal assignment. It begins with a proper identification of the problem with the client upon first contact. Only then can an appraiser accept an assignment offered by a client. Only then can the appraiser determine they have the competency to accept and complete the assignment in accordance with USPAP.
Thereafter are two stages: opinion development and reporting, both of which reflect decisions by the appraiser regarding the scope of work necessary. The scope of work must be appropriate and sufficient in regard to the assignment elements identified by the appraiser during initial contact with the client.
The process of opinion development by the appraiser must be disclosed by degree in the report. Thus the need that drove Novotny to develop the OARD form. Thus the need for Novotny to choose and write the appropriate report form for formal and more demanding and complex appraisal assignments. The burden is always on the appraiser to determine, conduct and disclose the scope of work performed.