Appraisal Services

What is an Appraisal?

Navigating Appraisals: Understanding their Importance

There are numerous definitions of the term “appraisal.” USPAP defines an
“appraisal” as (noun) the act or process of developing an opinion of value; an
opinion of value; (adjective) of or pertaining to appraising and related functions
such as appraisal practice or appraisal services.

But why the need for appraisal? Various reasons, from insurance coverage to estate planning or navigating a sale or purchase, drive this necessity. Owning a collectible vehicle demands a reliable, up-to-date appraisal, a service we proudly offer. Our assessments align meticulously with the Uniform Standards of Professional Appraisal Practice (USPAP), ensuring credibility and compliance.

No more misconceptions—your report is backed by extensive formal training and expertise, delivered through the American Society of Appraisers, ensuring a robust, USPAP-compliant document.

The Professional Appraisal Difference

Impartial

(adj): treating all rivals or disputants equally; fair and just.

Objective

(adj): expressing or dealing with facts or conditions as perceived without distortion by personal feelings, prejudices, or interpretations

Independent

(adj): free from outside control; not depending on another's authority.

Competent

(adj): having requisite or adequate ability or qualities.

Your Appraisal Start to Finish

Listen To Your Needs

When you first contact GTS, LLC. We will fully discuss your appraisal needs and together, figure out what it is you’re trying to accomplish. Some specific questions will be asked to help determine the “scope of work” that is required to complete the project.

Each appraisal is different

Research and due diligence

Detailed, honest, objective, and a fact-based report

Appraisal Contract

A written contract explaining the “scope of work” in more detail, including information such as the appraisers’ necessities, clients’ expectations, inspection date, inspection location, and fees.

Protects the appraiser and the client on what expectations are needed

Defines the scope of work

Outline of what is required from the client

Inspection Process

Upon approval, we will go to the location on the predetermined date. On arrival, we thoroughly document the property’s condition and photograph it for the report. In rare circumstances, if a physical inspection is not possible, the client will need to provide current photographs which will be used in developing the overall condition of the vehicle(s). This will then be utilized to develop a work file and a description of the subject vehicle(s) for the USPAP-compliant report.

An appointment will be made to inspect the vehicle

Detailed photographs will be taken and kept in the workfile

Documents will be inspected and copied

Finalized Report Delivery

After inspection, the valuation process begins and you will be contacted directly when the USPAP-compliant appraisal report is completed. The completed report will be promptly delivered after all invoices are paid in full. We answer any questions about the report and help you understand the full document.

Fully USPAP Compliant appraisal report will be delivered

The opinion of value will be stated

Comprehensively researched and analyzed argument for value

Expertise Matters

What makes a qualified appraisal?

The Appraisal Foundation’s Appraiser has set forth minimum qualification criteria for personal property appraisers. This criteria includes what are minimal standards for education and the experience levels. It also discusses the necessity of continuing education requirements.

Users of appraisal services should ensure that appraisers they engage meet these minimum criteria. Designated members of one of The Appraisal Foundation’s Sponsors (i.e…the American Society of Appraisers) have not only obtained the field-specific education and experience outlined in the, but they also follow the ethical standards outlined in the USPAP.