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Appraisal Foundation: Rules Are Changing in 2018

USPAP was written by the Appraisal Foundation in an attempt to establish a set of uniform standards by which professional appraisers should approach the appraisal of various properties.  All credible professional American appraisal societies have adopted USPAP as their Standard of professional appraisal practices. All credible appraisers must know the rules, guidelines and regulations regarding…

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Provenance Rank

Generally defined, provenance is the verified, proven history of an item that links that item with someone or an event, in a manner that makes the market for that item react favorably; increasing the value of the item over and above an identical item, which does not share the same linkage. There are several aspects…

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Discussion of the Concept/Basis of Diminished Value:

The analysis made in Diminished Value Reports is based on information supplied to appraisers from various sources, the experience of the appraiser, market knowledge, and the appraiser’s training. In making any Diminished Value inquiry, the appraiser upon the principle of antecedent probability, i.e.; one may rely upon consistent past events to reliably predict the future.…

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Fair Market Value

BY: JOSEPH M. CORNELL, CMA, ASA, ISA ALL RIGHTS RESERVED 2005 “Fair Market Value” is, most often, an enigma to both appraiser and client alike. It is a term that causes confusion, misunderstandings, and a great deal of frustration.  Most people, when they encounter Fair Market Value as a term used in the appraisal industry and…

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The Art Market

by: Joe Cornell, ASA, CMA, ISA all rights reserved    Art appraising is the process of estimating the potential value of works of art. The appraiser finds for many different kinds of value relative to the valuation of different items, e.g., replacement value, fair market value, actual cash value, etc. the actual appraising of different pieces…

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Appraisal Terms

Agents of Production: Agents of Production is the economic principle that contends that all production is a result of four agents being in balance: Labor, Land or Materials, Capital and Coordination. The loss of balance with any of these makes production inefficient. Annuity: An annuity is a stream of income that is in the form…

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Credible Appraisal Report

NECESSARY ELEMENTS IN ORDER TO BE CONSIDERED A CREDIBLE APPRAISAL REPORT: A CREDIBLE APPRAISAL REPORT By: Joseph M Cornell, CMA, ASA, ISA all rights protected © Many years ago I was standing in front of a group of attorneys, who were talking about a document labeled “Appraisal” that had a list of items on it, and…

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Firearms and the Appraiser

Specifically, when it comes to firearms, here are some of my qualifications: Allow me to tell you some things about myself that I believe no other appraiser can say: • I am the only accredited and certified firearm appraiser, in both modern and antique firearms, in the United States (Antique firearms being firearms manufactured before…

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