Watch appraisal for a defined recipient and purpose.
Maison Montres defines a watch appraisal as a written value opinion for one named recipient, purpose and effective date. The recipient's format, inspection, standard and signer requirements should be confirmed before the work begins.
The intended recipient decides whether a report is acceptable. Before accepting an appraisal brief, Maison Montres asks the client to confirm the required format, inspection, standard and signer qualifications with that recipient.
Ask the recipient what it will accept.
An insurer, court, tax authority, auditor, trustee or family office may apply different rules. The client should obtain the recipient's current requirements before commissioning the report. A generic document may be unusable even when its market research is sound.
The pre-engagement check covers the intended use and user, jurisdiction, effective date, required value basis, physical inspection, report format, applicable standard, signer qualifications, delivery method and conflict or independence conditions.
If Maison Montres cannot meet a material requirement, we should decline that scope or help define what type of appropriately qualified specialist is needed. We do not present a report as certified, compliant or accepted without evidence.
Valuation and appraisal answer different questions.
| Work | Primary use | Required definition |
|---|---|---|
| Current market valuation | Support a present acquisition, sale or collection decision. | Decision, market, currency, value date, evidence, assumptions and estimate. |
| Purpose-specific appraisal | Provide a written opinion to a named intended user for a stated purpose. | Recipient requirements, value basis, scope, inspection, standard, qualifications and report format. |
A valuation may be one input to an appraisal, but the two terms are not interchangeable. Replacement cost, fair market value, market value and expected net proceeds are also not interchangeable. The required basis must be written in the engagement and report.
A purpose-specific report in five controls.
Purpose
Name the intended use, intended user, jurisdiction and effective date.
Requirements
Confirm basis, standard, format, inspection and signer criteria, then define the scope.
Examine
Identify and inspect the watch to the depth required by the agreed purpose.
Analyse
Research the defined market, apply the stated method and test material assumptions.
Report
State the conclusion, support, assumptions, limiting conditions and responsible signer.
The reader should know exactly what was done.
The report should identify the client, intended user, purpose, property, effective date and value basis. It should state the scope of work, inspection completed, information sources, market evidence, method, conclusion and currency.
It should also disclose assumptions, limiting conditions, material uncertainty, conflicts, third-party specialist input and the qualifications of the person responsible for the opinion. A photograph-only report must say so. Authentication or provenance work is included only when the scope says it is.
The appraisal remains tied to its effective date and purpose. Recipient questions or a material change in facts may require clarification, an update or new work.
Commission only the report the recipient actually needs.
If no third-party report is required, a current market valuation may better fit the decision. Use authentication when identity and component findings are material. For insurance preparation, review the records and policy questions before setting the scope.
Adviser teams can review family office coordination and the engagement framework. When the recipient's requirements are known, send them with the appraisal request.
Watch appraisal, defined before delivery.
Purpose and recipient requirements control the scope.
What is a watch appraisal?
A watch appraisal is a written value opinion prepared for a defined purpose, intended user, effective date and set of requirements. Its scope, value basis, evidence, methods, assumptions and conclusion should be stated in the report.
Will an insurer, court or tax authority accept the appraisal?
Acceptance is decided by the intended recipient, not by Maison Montres. Before work starts, the client should ask the recipient which value basis, inspection, format, standards and signer qualifications it requires. If the proposed scope does not meet those requirements, it should not proceed as that appraisal.
Does a watch appraisal require physical inspection?
It depends on the purpose and recipient's requirements, but physical inspection is often necessary when identity, condition, originality or mechanical evidence can affect the conclusion. If inspection is not performed, the report must state that fact and the resulting limit.
What must be confirmed before an appraisal begins?
Confirm the intended use and recipient, jurisdiction, effective date, value basis, required inspection, report format, applicable standard, signer qualifications, delivery requirements and any conflict or independence conditions. These points belong in the written scope.
Can an old appraisal be reused for a new purpose?
Not without review. The value date, market, watch condition, records, ownership context and recipient requirements may have changed. A report prepared for one purpose should not be represented as suitable for another unless the new recipient confirms it.
Bring the recipient's requirements.
Send the intended purpose, recipient, jurisdiction, value basis, format and qualification criteria. We will confirm whether the requested scope can be accepted.
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