An appraisal is a professional estimate of the value of one's property. The item to be appraised can be a small individual piece, such as jewelry or artwork, or something larger, such as a home or business. In many cases an appraisal is necessary before a piece of artwork, jewelry or even a home can be insured. Before a mortgage or loan is approved for a home, that home will also need to be appraised. This is important in order to make sure that the insurance or loan amount is equal to the value of the property.

There are various areas in which an appraisal can be made:

Personal Property Appraisal: This includes items such as jewelry, fine china, artwork, pottery, antiques and other heirlooms.

Real Property Appraisal: This consists of assessing the value of real estate.

Mass Appraisal: This combines personal property and real property appraisal.

Business Valuation: This type of appraisal assesses the value of a business including equipment, services, logos and goodwill -- both tangible and intangible assets.

To become an appraiser, you should be a good communicator and possess excellent analytical skills. It wouldn't hurt to be good with numbers too. In order to give an appraisal, you'll need to have had some schooling first. The Appraisal Foundation's Appraiser Qualifications Board has certain qualifications you must meet in order to give your first appraisal. You'll need to have taken several hours worth of classes in your chosen appraisal field. You may also need to pass an exam.

A college degree is not required to give an appraisal, but if you want to receive your training through one of the professional appraisal organizations, one might be necessary anyway. Once the training period is over, you may be awarded an "appraiser's designation," which basically means you have completed a certain course or program.

It's good to be a part of a professional appraisal organization anyway. In addition to the initial training you can receive, they'll also help you to get hands-on experience by setting up, or allowing you to sit in on, appraisals. Once you're experienced at making an appraisal, your possibilities are endless. You can work for an insurance company, a museum, a jewelry chain, a bank, a law firm and even the government.

If you're interested in becoming an appraiser, contact your local appraisal organization to request literature and guidelines.