(LifeWire) - Overview of Business as an Antique Appraiser
Determining what a client's old possessions are worth and whether they're authentic is the domain of an antique appraiser. Independent appraisers often get their start working for galleries, jewelry retailers, antique shops and auction houses. Some earn credentialing from either the American Society of Appraisers, or Appraisers Association of America, while people who specialize in fields like art appraisal or jewelry may also hold degrees in art history or gemology. Certification is not regulated, however, so appraisers are assigned the task of building their reputations to a potential client's satisfaction.
Entry-level salaries for appraisers with a diploma in gemology are about $20,000 per year, according to the Bureau of Labor Statistics' Occupational Outlook Handbook.
Antique appraisers can be called upon to work in bulk to help attorneys settle an estate case, or be asked to focus on one item. Appraisers sometimes farm out their investigation to a lab for scientific tests. It is necessary to build an arsenal of reference materials and have a library nearby, as well as a large network of fellow appraisers, antiques dealers, auction houses and galleries in order to consult on hard-to-appraise items as well as to drum up additional business.
Pros of an Antique Appraiser Home Business
- Investigating an item's worth can be a fascinating detective story and history lesson wrapped into one.
- The popular PBS program Antiques Road Show has boosted the visibility of the industry, which can mean greater respect and money for practitioners.
- The market for appraisers in general appears to be good through 2014, according to the career forecast section for college students at Stateuniversity.com.
- Establishing a reputation can be a long process.
- The field includes many former employees of major auction houses who might command more immediate respect.
- Crestfallen customers can become irate when you inform them that what they thought was a priceless family heirloom isn't worth the rust collecting on it.
- Experience and knowledge
- Research resources and the means to subcontract forensic research
- Contracts that spell out the exact terms and scope of your appraisal
- A business license and insurance, if necessary. Contact your local chamber of commerce for information.
- Good record-keeping skills to keep track of your appraisal work
Antique Appraiser: Real-Life Example
Dee Perino, a Reno, Nev., antiques appraiser, earns an estimated annual income of $30,000 for her services, according to a business profile at Manta.com.
