The National Gallery of the Cayman Islands through a member of its staff is working toward becoming an associate member of the American Society of Appraisers, an organization of appraisal professionals and others interested in the appraisal profession.
International in structure, the ASA is self-supporting and independent and is the oldest and only major appraisal organization representing all of the disciplines of appraisal specialists, states a press release.
The society originated in 1936 and is recognised by the Royal Institute of Chartered Surveyors the well-regarded U.K professional valuation body in U.K.
There seems to be no qualified personal property valuation professionals resident in the Cayman Islands.
Personal property concerns fine arts, antiques, crafts, books, audiovisual media recordings, silver and other metals, decorative arts, numismatics and other general residential personal effects.
National Gallery staff will sit exams on courses to learn of general valuation theory and principles that influence valuation, historical antecedents of modern appraisal practice, appraisal terminology, the relationship between valuation theory and market economics and statistics, researching primary and secondary sources, research design and organization, interpretation of catalogue information and prices, components of a written appraisal report, valuing property for insurance scheduling, legal precedents, development of expert witness skills, and ethical and professional standards.
Membership with the ASA would enable the National Gallery to start working toward becoming a candidate for the designation of accredited member, and to start offering the service of formal appraisals for art and antiques in the Cayman Islands, a service it is hoping to be able to offer by early 2007.