And the Appraisal Certificate Goes To…
What is an Appraisal Certificate?
An Appraisal is when a customer’s item is evaluated for its current value by a certified appraiser, and an appraisal certificate is printed and signed by the appraiser. These certificates are given to the customer to describe all the details of their item, as well as the market value of the item, if it were to be sold. An appraisal certificate is especially important to the customer for insurance purposes, considering it’s typically done for very valuable items. The primary goal of any appraisal is to provide your customer with an Appraisal Certificate. This is a specific type of document which needs to be printed out and signed by an authorized appraiser, and given to the customer for their own safe-keeping. Customers may further use this certificate for insurance purposes, or even just to frame and hang it on the wall to showcase a valuable item in their home.
Proof That your Asset Exists!
If you do not have an appraisal certificate for a valuable item, you may encounter several problems, including:
- Difficulty in proving the value of the item: Without an appraisal certificate, it may be difficult to prove the value of the item to potential buyers, insurers, or other interested parties. This can make it challenging to negotiate a fair price or obtain appropriate insurance coverage.
- Risk of undervaluing or overvaluing the item: If you are unsure of the value of the item, you may risk undervaluing it and potentially losing out on money if you decide to sell it. Conversely, you may overvalue it and struggle to find a buyer willing to pay the asking price.
- Limited access to certain markets: Some high-end auction houses or antique dealers may require an appraisal certificate before accepting a valuable item for consignment. Without one, you may be limited in your options for selling the item.
- Legal disputes: In cases where the value of an item is in dispute, such as during a divorce or estate settlement, an appraisal certificate may be necessary to help resolve the matter. Without one, you may face legal challenges or be at a disadvantage in negotiations.
A Touchpoint to Remind of Your Precious!
An appraisal certificate is a document which you print out and sign. These are meant to look presentable, and provide very specific details of the appraised item, especially its appraised value. Creating an appraisal in RMPro is only part of the goal. More importantly, this is meant to be printed and given to the customer. There are a few places to print an appraisal, depending on how it’s made.
Appraised Value and Age
The two important pieces of information required for any appraisal is the item’s Value and Age. The appraised value represents how much it would cost to replace the item in today’s market, and age is the approximate year the item was originally made.
RMPro has a module which allows you to create and customize tags and documents for various purposes – in this case, custom appraisal certificates. You could potentially have more than one template to choose from – it’s up to your company to design any appraisal certificate templates as necessary. In most cases, you will likely only have one.
For any appraisal, it’s critical that the document is physically signed by an authorized appraiser. This needs to be somebody who is very well knowledgeable in the product’s industry, and who is qualified to identify the value and details of any given item. Appraisal certificates in RMPro have a spot where the appraiser needs to sign.