It may seem strange for some people to know a person who owns a gun collection. Like philately, or commonly known as the collection of stamps, gun collection serves as a very interesting hobby that may also pay off at the right time. Hobbyists on this type of interest are very much into restoration of antique guns and the like. Soon after they have started their gun collection, collectors are able to know the worth of their collection through appraisal or evaluation. If you are to appraise your own gun collection, it is important to emphasize the political history, as well as the social significance of each piece. Follow the steps below to guide you through the process of appraising your gun collection.
- Know the functions of the Uniform Standards of Professional Appraisal Practice (USPAP). Basically, USPAP is the body that regulates professional appraisers. It was developed to establish quality control standards that apply not only with gun collections but also with other real and personal properties. Your gun collection must undergo professional appraisal before its value becomes potentially effective on paper. Contact USPAP for more information.
- Find a reliable appraiser for your collection. You can find a list of professional appraisers in your local phone directory list. There are also directories of professional appraisers online. It is best to choose online appraisers if you only have a small gun collection. Online appraisers usually provide you with details and screen shots to use for evaluating your items.
- Prepare the pertinent information regarding each piece of your collection. You must collect these information beforehand. These data include all historical information, such as year manufactured, and technical information, such as gun model and its key features. It is also important to note down the condition of each piece. All information will be needed by the appraiser during evaluation.
- Take photos of your gun collection. Each piece should have a detailed photo as this will serve as a basis as to how each will be assessed. All these photos will be supplied to the appraiser. However, there may be a need for the appraiser to have a hands-on assessment in order for it to be evaluated very well.
- Visit the appraiser’s office. As mentioned above, gun collection is accurately appraised when your collection is assessed with physical touching. This is very much necessary especially if your collection includes rare items, which may have greater value than other items in your collection.
- Double check the appraiser’s evaluation. You may need to get another appraiser’s opinion to ensure that the appraisal is accurate. Second opinions are necessary if you don’t have the most accurate information about each piece of your collection.
- Have the appraisal on paper. You may need the written appraisal for some legal purposes including tax and insurance. Make sure to have it stored in a safe box placed in a safe place.
Whatever item you are interested to collect, appraisal is one important thing to consider. Your collection is not merely a collection. Indeed, it is a valuable asset that every collector must take care of.