Sunday, March 29, 2020
(GMT-05:00) Eastern Time (US & Canada)
Quilt Appraisal - Why?
There are a number of important reasons for having a quilt appraised. Below are some, and why.
- To set a value for insurance. This is to cover loss of a quilt(s) in a fire, by theft, or in shipping. There is the misfortune of being thrown away or left behind. Insurance adjusters are seldom knowledgeable in quilt values and rely on written valuations made by experienced and certified quilt appraisers.
- Donations. We often make quilts for donations to some of our favorite causes. Value is based on Fair Market Value for personal property for which a tax deduction can be taken. An arbitrary valuation is not acceptable to the IRS. Always consult with your tax professional for advice.
- Settling an Estate. Quilt value should be determined upon the death of the owner. Also in the event of a divorce.
- Gifting. This is a wonderful thing to do when giving the gift of a quilt. And won't the recipient(s) be surprised that you've made something with such value!
- Shipping a Quilt. Self appraisals are not recognized by insurance adjusters. A quilt show will have a maximum amount allowed for payout on a loss or damage, usually significantly less than an actual appraised value.
- Selling a Quilt. To determine Fair Market Value by current comparable sales.
- Curiosity. Sometimes we just want to know about a quilt that we have inherited or been given to find out more of its history, its fabrics, pattern, style.
Having your quilt appraised is a personal and sometimes legal decision. It's important to have this done by someone with experience or an AQS certification. In order to be certified, there is a program through the American Quilters Society that requires several years of intense study. It is complete upon passing a twofold testing process. During the program, students are encouraged to conduct appraisals as part of the learning process. Appraisers are disinterested parties of the quilts and quilted textiles they appraise. We love to see them and 'Ooo and Ahh' over them just like anyone else. But it is a conflict of interest to buy or be gifted a quilt that that appraiser has appraised.
Please make an appointment prior to the appraisal day so we can ensure that there is sufficient time to carefully evaluate your quilt.
Dates: November 7, 2019
Appriaser: Diana Annis
Class fee: $35 per quilt