Personal Property Appraisal Service

Provide appraisals for insurance, estate planning, and tax purposes

Startup Cost
$4,000-$15,000
Difficulty
Advanced
Time to Profit
12-18 months
Profit Potential
$8,000-$42,000/month

Overview

Personal property appraisers charge $100-$300 per hour or $500-$5,000 per project.

Completing 40-120 appraisals annually generates $100,000-$500,000 annually with 80-90% margins.

In 2025, appraisals needed for insurance, estate planning, divorce, taxes, and donations.

Services include insurance appraisals (jewelry, art, collectibles), estate appraisals for probate, charitable donation appraisals, divorce asset valuation, and damage claims.

Successful appraisers get professional credentials (ISA, AAA), specialize in categories (jewelry, fine art, antiques), research thoroughly, provide detailed documentation, maintain USPAP compliance (appraisal standards), and work with attorneys and insurance companies.

Can specialize in specific items: jewelry (most common), fine art, antiques, or household contents.

Marketing through estate attorneys, insurance agents, CPAs, financial planners, and museums.

Required Skills

  • Appraisal Methodology
  • Specialized Knowledge
  • Research Skills
  • Report Writing
  • USPAP Compliance
  • Professional Credentials

Pros and Cons

Pros

  • High hourly rates ($100-$300)
  • Professional knowledge-based business
  • Multiple markets (insurance, estate, tax)
  • Can work from home with field visits
  • Professional credentials create barriers

Cons

  • Requires extensive specialized knowledge
  • Professional credentials and education
  • Liability for appraisal accuracy
  • Long time to build expertise and reputation
  • Must stay current with market values

How to Get Started

  1. Get appraisal training and credentials (ISA, AAA)
  2. Develop expertise in specific categories
  3. Learn USPAP standards and compliance
  4. Set pricing structure (hourly or project)
  5. Build relationships with attorneys and insurance agents
  6. Market through professional networks
  7. Maintain continuing education and market knowledge

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