In releasing new editions every two years, Maloney is running on the same update schedule as USPAP. By mirroring the USPAP update schedule, each new edition is current with new guidelines, requirements and standards as promulgated by the Appraisal Foundation and USPAP. With that in mind, it is worth purchasing each new edition in order to remain current with changing personal property principles and methodology, USPAP requirements and recommendations as well as IRS guidelines and forms. In addition, Maloney has also noted much of the new changes in content with icons so appraisers can see exactly what has changed and what is new.
The new edition is sold through Appraisal Course Associates, and the website has much information about the book, including a video, table of contents, index, and individual chapter synopses. Click HERE to visit the ACA site. The site gives an excellent preview of what to expect in this new 600 page volume.
This is a resource book every personal property appraiser should have in their library. I would even take the recommendation a step further and say many dealers and gallerists should have this resource in their library as well, as it stresses the importance of what a qualified appraisal is and what is involved in developing a report, writing a qualified report and supporting substantive value conclusions which can withstand review and scrutiny.
The new edition is certainly a valuable tool for the new personal property appraiser, but what is also impressive is that the book has sufficient depth, detail and explanations that it is also a worthy guide for the experienced appraiser.
Content includes
In addition to the above, there is a large appendix with over 30 forms, IRS regs and procedures, and other useful personal property content. To me, it should not matter if you have other books and guides on personal property appraising from ASA, ISA or AAA (which are needed to conform to each association's individual report writing standards), Appraising Personal Property: Principles and Methodology will serve and enhance all appraisers at all experience levels.
- Appraisal Terminology
- Appraisal Principles (value, cost, scope of work, intended users, etc)
- USPAP
- Ethical Standards
- Research
- Describing Property
- Writing an Appraisal Report (with sample reports)
- The Professional Appraisal Practice
- Legal Issues
- Glossary
- Index
To order Appraising Personal Property: Principles and Methodology ($94.95 including shipping), click HERE.