Meagan Craigo

Collectors search for appraisers by name because they want clarity, competence, and trust. If you’re researching a professional such as Meagan Craigo, this guide explains what to expect from a qualified fine and decorative arts appraiser: the standards they follow, how values are formed, what a complete report should include, and how to prepare for a successful assignment. Whether you’re insuring a contemporary painting, settling an estate of period furniture, or evaluating a single piece of studio pottery, the same disciplined approach applies.

What to Expect from a Qualified Appraiser

• Independence and objectivity: Ethical appraisers do not buy the property they appraise and do not accept contingent fees that depend on the value conclusion.
• Standards compliance: In the United States, the Uniform Standards of Professional Appraisal Practice (USPAP) set the baseline for appraisal ethics, scope of work, and reporting. Ask whether the appraiser is current with USPAP and other relevant standards for your assignment (for example, IRS criteria for charitable contributions).
• Clear assignment terms: You should receive a written engagement or proposal stating the intended use (insurance scheduling, estate tax, equitable distribution, donation, damage/loss claim, potential sale guidance), intended users, type of value, effective date of value, scope of work, fee structure, and timeline.
• Category competence: A single appraiser is rarely expert in everything. Verify experience in your specific category (American paintings, European decorative arts, Asian ceramics, jewelry, rugs, manuscripts, etc.). A qualified generalist may bring in a specialist when appropriate.

Throughout this article, references to a professional like Meagan Craigo describe the practices you should look for in any reputable appraiser.

Types of Value—and Why They Differ

The same object can legitimately carry different values depending on the assignment:

• Fair Market Value (FMV): The price at which the property would change hands between a willing buyer and seller, both having reasonable knowledge, neither under compulsion. Commonly used for estate tax and noncash charitable contributions.
• Retail (or Insurance) Replacement Value (RRV): The cost to replace the item with one of like kind and quality, within a reasonable time in the relevant retail market. Used for insurance scheduling.
• Marketable Cash Value (MCV) or Net Realizable Value: The expected proceeds from a sale after transaction costs; useful in some liquidation or advisory contexts.
• Orderly Liquidation Value (OLV) and Forced Liquidation Value (FLV): Values under time-constrained sale conditions, often in business or bankruptcy contexts.

A rigorous appraiser will state the type of value, the effective date, and the market(s) selected for analysis. If your appraisal compares auction results to retail asking prices without explaining why, ask for clarification—market selection must fit the assignment.

How Appraisers Build a Value Opinion

A professional valuation is more than a list of comps. A typical methodology includes:

1. Identification and cataloging

   • Object type, maker/artist, title/subject, medium/materials, technique, dimensions, signature/marks, edition or model, period/date, provenance, literature and exhibition history where applicable.
   • Construction details: joinery on furniture, weave and dyes in rugs, movement and dial on clocks, mold seams and pontil on glass, hallmarks on silver, settings and mountings in jewelry.
   • Condition assessment: structural integrity, restoration, overpainting, losses, chips, abrasions, foxing, stains, warping, repairs, relining, refinished surfaces, patina.

2. Research

   • Makers’ and artists’ reference literature and catalogues raisonnés where applicable.
   • Authentication markers and red flags; when uncertainty exists, the appraiser may recommend scientific testing or an external opinion before a value is concluded.
   • Provenance verification via receipts, labels, inscriptions, archives, or estate records.

3. Market selection and data

   • Identify the most relevant market level(s) for the assignment (regional to international auction, dealer/retail galleries, specialist online platforms).
   • Curate comparables that are truly comparable: same maker/artist, period, size, subject, medium, edition, and condition; avoid using asking prices without evidence of sale.
   • Note time frame and location; market behavior changes by geography and season.

4. Analysis and reconciliation

   • Adjust comparables for size scaling, condition, subject desirability, rarity, date, medium, edition size, and documented provenance.
   • Weigh comparables by relevance; reconcile to a supportable value conclusion, often expressed as a range for FMV and a point value for insurance replacement when justified.

5. Reporting

   • Present data, analysis, and conclusion transparently so another appraiser can follow the logic. Include limiting conditions and certifications required by professional standards.

Category-Specific Considerations

While core methodology is consistent, the critical details vary by category:

• Paintings and works on paper

  • Check support (canvas, panel, paper), ground, stretcher/strainer, craquelure types, varnish, relining or patches, water staining, foxing, mat burn.
  • For prints: edition size, state, watermark, margins, printer/publisher, signature or blindstamp, condition of the sheet.

• Sculpture and decorative arts

  • Bronze: casting method (sand vs. lost-wax), foundry marks, patina, later reductions or recasts.
  • Ceramics and porcelain: body, glaze, firing flaws, restoration with UV light, factory marks and decorator marks; understand factory periods and quality differences.
  • Glass: mold vs. blown, pontil treatment, maker’s marks, coloration, internal inclusions, wear appropriate to age.
  • Silver: hallmark systems by country, assay marks, duty marks, maker’s punch, period styles, monograms and removal evidence.

• Furniture and folk art

  • Wood species, secondary woods, tool marks, joinery (hand-cut vs. machine), saw types, oxidation and wear patterns; hardware originality (screws, hinges, pulls); surface—original finish versus refinish; shrinkage and warping.

• Rugs and textiles

  • Knot density (KPSI), weave structure, dyes (natural vs. synthetic), region/tribe identification, repaired areas, moth damage, fringe and selvedge condition.

• Jewelry and timepieces

  • Metal fineness and hallmarks, maker’s signatures, gemstone identification and treatments, cut quality, mounting craftsmanship, movement authenticity and service history, serial numbers; grading reports for diamonds and colored stones when material to value.

• Books and manuscripts

  • Edition and issue state, dust jacket presence and condition, signatures and inscriptions, provenance, binding, paper, foxing, restoration, association copies.

An appraiser experienced in your object type will know the diagnostic details, typical condition issues, and market nuances that materially affect value.

Deliverables, Fees, and Timelines

A professional appraisal report typically includes:

• Cover page and table of contents.
• Client name, intended use and users, effective date, scope of work.
• Definitions of value and relevant markets.
• Detailed property descriptions with measurements, condition, and photographs.
• Comparable sales data with citations, dates, and prices; a discussion of how comps were selected and adjusted.
• Analysis and value conclusions (single-point or range) for each item or grouped items.
• Assumptions, limiting conditions, and extraordinary assumptions if any.
• Appraiser’s signed certification and statement of qualifications, including education, professional affiliations, and standards compliance.
• Addenda: glossary, bibliography, index.

Turnaround time depends on quantity, complexity, research depth, and scheduling for on-site inspection. A single painting for insurance may be completed in a few business days; a multi-category estate can take several weeks.

Fees are typically hourly or per-item flat fees, sometimes with a minimum, plus expenses (travel, photography, specialty testing). Contingency fees based on a percentage of value are avoided for ethical reasons and to maintain independence. Expect a deposit for large estates. Always request an estimate and confirm billing increments.

Preparing as a Client

Preparation can shorten timelines and reduce costs:

• Gather documentation: receipts, invoices, prior appraisals, certificates of authenticity, correspondence, labels, exhibition catalogs, and provenance notes.
• Inventory list: create a simple spreadsheet with item descriptions, approximate sizes, room location, and any known history.
• Access and logistics: ensure safe access, adequate lighting, a staging area for photography, and any building/security requirements. For high-value items, discuss security protocols in advance.
• Do not clean or “touch up”: overcleaning, polishing silver, or re-oiling furniture before inspection can remove evidence of age or restoration that affects value. Leave as-is unless your appraiser advises otherwise.
• Be clear about intended use: insurance vs. donation vs. estate administration can lead to different markets and values. Clarity ensures the correct type of value and report format.

Common Pitfalls and How Professionals Avoid Them

• Confusing value types: A retail replacement value for insurance will be higher than fair market value for a typical sale. Using the wrong type can mislead decision-making and coverage.
• Overreliance on asking prices: A dealer’s or online listing is not a sale. Appraisers verify realized prices and use asking prices cautiously, with market rationale.
• Ignoring condition and restoration: A small patch on a painting, replaced hardware on a chest, or repolished surface can shift value significantly. Condition drives market response.
• Misattribution and optimistic labels: A signature alone is insufficient; period copies, workshop pieces, or later editions can look convincing. Documentation and comparative analysis are essential.
• Inadequate scope for complex attributions: When authorship is uncertain and material to value, a responsible appraiser may withhold a definitive conclusion pending opinions from recognized scholars or institutions, or frame the conclusion with extraordinary assumptions disclosed in the report.

Working With an Appraiser Like Meagan Craigo

If you’re evaluating a named professional, consider these indicators of quality:

• Transparent communication: Clear engagement terms, expectations, and updates.
• Fit for your category and purpose: Demonstrable experience with your type of property and assignment use.
• Thoughtful market narrative: Not just data, but a coherent explanation of why the selected market and comparables are appropriate.
• Thorough documentation: Crisp photographs, complete descriptions, and properly cited comparables.
• Professional demeanor: Respect for property and privacy, punctuality, and careful handling practices.

A qualified appraiser’s role is to illuminate—not inflate—value. The best assignments end with the client feeling informed and confident to act, whether the next step is insurance scheduling, charitable contribution filing, estate planning, or sale strategy.

Practical Checklist: Before You Book an Appraisal

• Define the intended use and users of the report.
• Confirm the appraiser’s current USPAP compliance and category expertise.
• Request an engagement letter with scope, fees, and timeline.
• Assemble provenance and prior documentation; create a simple inventory list.
• Prepare safe access, lighting, and a staging area; do not clean or repair items.
• Discuss photography, security, and any travel or building requirements.
• Clarify deliverables: digital vs. hard copy, number of copies, and turnaround.
• Ask how comparables will be selected and which market(s) will be analyzed.
• For donations or estate tax, confirm the report will meet applicable filing standards.
• Establish a communication plan for milestones and questions.

FAQ

Q: Do I need a full report, or will a verbal valuation do? A: Verbal opinions can help with quick decision-making, but they are not formal appraisals and are not suitable for insurance, tax, legal, or donation purposes. If you need documentation, request a written report.

Q: How often should I update insurance appraisals? A: Every 3–5 years is typical, or sooner if markets for your category are volatile or you have high-value pieces. Updates can be more economical than a full reappraisal if little has changed.

Q: Can an appraiser also help me sell my items? A: Many appraisers provide value guidance and sale options, but they should disclose any potential conflicts of interest. If offering brokerage services, those roles should be clearly separated from unbiased appraisal work.

Q: What if the authenticity of my piece is uncertain? A: A responsible appraiser will disclose uncertainty and may recommend additional scholarship, expert opinions, or scientific testing. If conclusions depend on assumptions, those will be labeled as extraordinary assumptions in the report.

Q: Why do two appraisals sometimes report different values? A: Different intended uses, effective dates, market selections, or levels of analysis can lead to different results. Review each report’s scope, type of value, and comparables to understand the differences.

When you engage a professional—such as the kind of appraiser collectors seek out by name—you’re hiring both a method and an ethic. Ask good questions, expect clear documentation, and you’ll get a report that stands up to scrutiny and serves your needs.