Technical article

Who Can Value Your Collection, and What It Costs

The Internal Revenue Service has its own art unit, Art Appraisal Services.

By Neil Solomon · 4 min read

Picture an executor with a list of jewelry, a stamp collection and a few paintings, and a deadline. The estate return asks for a number for each. The executor does not know a single appraiser. A search turns up dozens, with prices from free to four figures. Whom to call, and how to know the number is fair, are questions with partial answers in the sources.

When a sworn appraisal is needed

In the United States, Treasury Regulation 20.2031-6 says that where articles of marked artistic or intrinsic value total more than US$3,000, an appraisal by an expert under oath goes in with the estate return. Examples include jewelry, furs, silver, paintings, antiques, books, rugs, and coin or stamp collections. The executor also files a statement on the appraiser's qualifications and that the appraiser has no interest in the outcome. The Form 706 instructions repeat the rule for any item or collection of similar items over US$3,000 (tier A).

The Internal Revenue Service has its own art unit, Art Appraisal Services. An item of art appraised at US$50,000 or more is referred to it. Its Art Advisory Panel, made up of up to 25 unpaid art experts, generally sees works valued over US$150,000. The IRS guidance also lists what an estate appraisal for art contains. It names the value, the valuation date, the inspection date, a description, an image, provenance, comparable sales, and a conservator's report if condition affects value (tier A).

In the United Kingdom, HM Revenue and Customs says a professional valuation that states it is on open market value can usually be accepted. Its form for household goods asks that a professional valuation be enclosed if one exists. For estates under GBP 200,000 gross that are treated as excepted, the executors may use their own realistic estimate (tier A).

Who counts as qualified

The IRS defines a qualified appraiser, for charitable gifts, as someone with verifiable education and experience in the type of property. That is either a recognized appraisal designation, or a minimum of coursework plus two or more years of experience (tier A, Publication 561). The estate rule uses the words "expert" and "qualifications" and does not set a degree.

An executor can look for an appraiser who works in the type of object and who would not buy it. One collectibles columnist advises hiring an independent expert who is paid by the hour and cannot buy from the estate. He notes that some auctioneers offer a free appraisal if they get the sale, and those may be low (tier U, 2014).

What it costs

There is no official fee schedule. These are figures from firms that sell appraisals or write about them, so treat them as indicative (tier C).

The percentage question

The IRS says that for a charitable gift, no part of the fee for a qualified appraisal may be based on a percentage of the appraised value. A fee tied to the deduction allowed counts as a percentage fee (tier A, Publication 561). That is the donation rule.

For other work the rule rests on the appraiser's ethics. A jewelry-appraisal trade publisher says that a percentage-of-value fee is considered unethical, because it gives the appraiser a reason to raise the number (tier C). A study guide to the appraisal standards says the ethics rule bars taking work whose pay depends on the value reached (tier U). One appraisal firm says some appraisers charge 1% to 4% of value, and calls that a conflict of interest (tier C).

Some questions you could ask

The sources point to a short list. You could ask the appraiser whether the fee is by the hour or per item, and whether it depends on the value found. You could ask which of the four values the report gives, whether estate, auction, insurance or dealer. You could ask whether the appraiser has worked on objects of this kind, and whether the report will carry the sworn statement an estate return needs.

You might say that a free appraisal is a gift. It may be a gift. It is also worth asking what the person gives up, and what they gain if they buy or sell the piece afterward.

Who did you call the first time you needed a value, and how did you know the number was fair? Share it here. Someone else may be at the start of that search.

Figures are estimates for planning, based on public data. Date read: October 2026.