Buying Or Selling A Grandfather Wall Clock?

Are you ready to buy or sell an antique grandfather wall clock? If so have you read the first article in this series “Never Pass Up A Chance to Buy A Grandfather wall clock”? If not, I suggest you read it before reading any further. Before you buy or sell an antique clock or valuable antique grandfather wall clock, make sure to have the clock appraised by an accredited appraiser. Because there are no licensed appraisers, it is best to get an appraiser that is a member in good standing with the “International Society of Appraisers (ISA)” or “American Society of Appraisers” or “Appraisers Association of America”. Be careful, if they are not an accredited appraiser they may under pricing that rare grandfather wall you are selling or talk you into paying too much for an antique clock they are trying to unload.

Are they qualified?

If they cannot answer this question directly, move on to someone else. An accredited appraiser will have a formal education in appraisal theory. They will be up to date in procedures, ethics and the law. Having completed many appraisals, they will have a thorough knowledge of grandfather wall clock. When asked, they should be willing to provide you with an appraiser’s professional profile, resume and references.

Will any appraiser due?

To appraise an antique grandfather wall clock correctly, a particular kind of appraiser is required and not just one who knows antique furniture. They must know the cabinet markings, type of wood, and finish for this model of grandfather wall clock or pendulum clock. They will also know what type of grandfather wall clock movement was originally used and if the movement is mechanically sound. They will know whether the grandfather wall clock chime or tubes have been altered or changed after they left the factory. An accredited appraiser will know the details and some of the history of the clock and if not will be able to gather the correct information for you. Above all they will specialize in grandfather wall clocks and have a deep understanding of their origin and history.

What appraisal society do they belong to?

As part of a nationally recognized appraisal organization, they are taught and ethically bound to give typewritten appraisals as part of the process. Any person who does not belong to a recognized appraisal society may be unwilling to give you a written document for fear that if taken to court or questioned by the IRs it will be invalidated.

How are they paid?

Professional appraisers are paid by the hour, a flat rate or by the piece. A professional appraiser will never charge a percentage of the value of the grandfather wall clock or charge a contingency fee. This is barred because it causes the appraiser to fug on the value of the grandfather wall clock and they will not give you an unemotional unbiased report. This is why most well written and accepted appraisal reports contain a paragraph on the method of payment.

What will the final appraisal look like?

The report must be a formal typewritten document. It must contain a statement to the “type of value” or “purpose this appraisal” is for and how the appraisal will be used. It must contain the methods and resources used to document its value. It must contain a detailed and accurate description of the grandfather wall clock and any alterations done (replacements, repairs, restorations) so someone could identify the grandfather wall clock without photographs. If must contain the date, the location and the effective date of value. The report must contain a statement such that the appraiser has no financial interest in the grandfather wall clock or must state their financial interest clearly in the report. It will also contain the appraiser’s qualifications and signature.

For those buying a grandfather wall clock.

If you are a buyer of a high dollar grandfather wall clock, make sure that the seller has a valid appraiser’s report or ask that one be done. The report is for your protection should anything arise concerning the grandfather wall clock. Make sure it is typewritten and signed. Make sure the appraisal fee is documented in the report and it was not based on the grandfather wall clock value or on a contingency fee. Make sure the purpose and assigned use is stated clearly. Make sure that the appraiser is qualified to appraise a grandfather wall clock. Make sure the appraiser is willing to back any statements made in the report in a court of law (subject to a separate fee arrangement).

Michael