: Appraisers of personal property gathered here to attend the
annual conference of the Appraisers Association of America (AAA)
over the first weekend in December.
A total of 180 people from 20 states as far away as Hawaii came
to hear about issues, learn about changes in the profession and
network with other appraisers. Each of the three major appraisal
organizations - The American Society of Appraisers (ASA), the
International Society of Appraisers (ISA) and the AAA - were
represented.
In the early Twentieth Century there were very few appraisers and
certainly no professional organizations. In 1982, the first
appraisal studies training course that was based on a
standardized body of knowledge was developed by a college
professor. It was the beginning of a formalization of a
methodology to make appraising more "scientific." Since then,
methodology has evolved into a formal structure, providing a
consensus of thinking and a development of a common language used
by professional appraisers.
Some of the issues discussed during the four-day conference were
new this year, including unpredictability of sales, appraisals of
pop culture by Leila Dunbar from Sotheby's, auction trends by a
distinguished group of auction house owners and the complexity of
the dual role of dealers and appraisers.
Many dealers are asked to do appraisals. They may do it for their
clients, but there is an inherent conflict of interest.
Generally, people want free appraisals because they want to know
what they can sell an object for. In order to avoid a conflict of
interest, James R. McConnaughy, who specializes in Eighteenth and
Nineteenth Century English and American silver at S. J.
Shrubsole, asks up front, "Are you considering an appraisal or
are you interested in selling?" Once that is clear, he is happy
to appraise or make an offer. Art law attorney Ralph Lerner
expressed his opinion: "In an ideal world, the appraiser should
appraise and the dealer should deal."
One of the most interesting developments in the appraisal
profession is the Mei Moses Fine Art Index - - which "tracks the
tenor of the art market going back to 1875." Co-developer Michael
Moses explained that the index is a tool to treat fine art as an
asset class. Based on art objects that have sold at auction more
than once, it establishes value without influence from a vested
interest - whether an auction house, individual or dealer. Will
the index be used by the Art Advisory Panel? "Valuation is a very
big wheel," according to Karen Carolan, chief, art appraisal
services, and chair, Commissioner's Art Advisory Panel. "It is
fact based."
A number of distinguished dealers and historians gave
presentations at the conference. "I was on the edge of my seat
when Wendell Garrett gave his slide presentation 'The Arts of
America,'" said the former AAA president. The editor at large for
the Magazine Antiques provided a wonderful backdrop for
the entire conference with his talk bout the trends in style in
furniture, architecture and paintings.
Veteran jewelry dealer Edith Weber held the attention of her
audience for an hour with a very instructive breakout session,
"What You Should Know About Antique Jewelry." Instead of slides,
she passed 35 pieces of antique jewelry to her audience,
including a monogrammed miniature ring belonging to Louis XIV,
and asked each member to write down estimates of value. Before
the session was over, she went over each piece of jewelry and
assigned a range of values to them.
One of the most interesting sessions on Sunday afternoon focused
on auction trends around the country. Each of the five panelists
owned a regional or "niche" auction house, and each has appeared
on the Antiques Roadshow on numerous occasions. There was
general consensus that both the show and the Internet have
"stoked the interest" in the market and created a change in
market dynamics. When Wes Cowan, president of Cincinnati's
Cowan's Auctions, hears someone remark, "You guys have killed the
business," he replies, "Not so, because it makes people more of
aware of what they have."
New Hampshire auctioneer Ron Bourgeault said he believes that
"anything small and portable" sells well in either large or small
houses, while bigger, bulkier things do better in regional
houses. New Jersey auctioneer David Rago said he believes that
regionalism is a nonissue - because he has a niche market
specializing in American art ceramics and Mission furniture. All
of the panelists concurred that the way to get the best price at
auction is for clients' items to be consigned with a low
estimates.
As the art and antiques business grows along with the public's
interest in it, connoisseurship and professional appraisals will
continue to be a needed. A restorer who provides an $8,000
"appraisal" to a four-line description of a painting is not
acceptable to the Internal Revenue Service nor is a one-page
laundry list in an estate appraisal.
For information about AAA, www.AppraisersAssoc.org or
212-889-5404.
