Caroline Ashleigh's Blog
Caroline Ashleigh Associates Receives 2013 Michigan Excellence Award in Business




The Small Business Institute for Excellence in Commerce (SBIEC) has selected Caroline Ashleigh Associates, apart from all its competitors, for meeting and exceeding industry benchmarks for customer service, product quality and ethical practices.


Caroline Ashleigh Associates receives 2013 Michigan Excellence Award 

October 21st 2013 - Caroline Ashleigh Associates has been selected for the 2013 Michigan Excellence Award amongst all its peers and competitors by the Small Business Institute for Excellence in Commerce (SBIEC).

Each year the SBIEC conducts business surveys and industry research to identify companies that have achieved demonstrable success in their local business environment and industry category. They are recognized as having enhanced the commitment and contribution of small businesses through service to their customers and community. Small businesses of this caliber enhance the consumer driven stature that Michigan is renowned for.

Caroline Ashleigh Associates has consistently demonstrated a high regard for upholding business ethics and company values. This recognition by SBIEC marks a significant achievement as an emerging leader within various competitors and is setting benchmarks that the industry should follow.

As part of the industry research and business surveys, various sources of information were gathered and analyzed to choose the selected companies in each category. This research is part of an exhaustive process that encapsulates a year long immersion in the business climate of Michigan.

About SBIEC:

The SBIEC is a leading authority on researching, evaluating and recognizing companies across a wide spectrum of industries that meet its stringent standards of excellence. It has spearheaded the idea of independent enterprise and entrepreneurial growth allowing businesses of all sizes to be recognized locally and encouraged globally.

Particular emphasis is given to meeting and exceeding industry benchmarks for customer service, product quality and ethical practices. Industry leading standards and practices have been developed and implementation of the same has been pioneered by the dedicated efforts of the business community and commerce leadership.

About Caroline Ashleigh Associates:

Caroline Ashleigh Associates provides a broad range of appraisal and auction services for buyers and sellers. Some of the comprehensive services provided include advice on purchasing, selling, collection management, and investing in art and antiques. Caroline Ashleigh and the staff at Caroline Ashleigh Appraisers and Auctioneers have earned the company a reputation for convenience, quality, expertise and ethical practice. 

More information on SBIEC can be found at
More information on Caroline Ashleigh Associates can be found at
Caroline Ashleigh joins Heritage Auctions


Caroline Ashleigh
Well known 'Roadshow' and HG-TV personality and expert


Dallas, TX  - Heritage Auctions has announced that Caroline Ashleigh, longtime Antiques Roadshow and HG-TV  appraiser, has accepted a position with the auction house as Consignment Director. 

" I am extremely happy to be part of the Heritage team," said Ashleigh. "This is an exciting company, one committed to an expanding role in the world of fine art auctioneering and I look forward to being a part of that growth."


Ashleigh will continue operating from her home base in Birmingham, Michigan, using her internationally recognized expertise to bring in consignors and buyers from all over the world. Heritage Auctions is located in Dallas, New York, Beverly Hills, San Francisco, Paris, and Geneva.


Caroline Ashleigh is a graduate of New York University in Appraisal Studies in Fine and Decorative Arts, and is a certified member of the Appraisers Association of America, and an accredited member of the International Society of Appraisers. She is a current accredited USPAP Appraiser of the Appraisal Foundation in Washington, D.C.and has received specialized training in Art Crime Investigation, by the founder of the FBI Art Crime Team.

Ms. Ashleigh’s career began as a member of the educational department staff of the Detroit Institute of Arts and Cranbrook Academy. She became involved in appraising important collections, estates, archives, and has served as an art expert in court cases. She is a nationally known appraiser and has regularly appeared on Antiques Roadshow since 1997, and as an art expert on HG-TV.

Caroline Ashleigh has written scores of articles for a wide array of publications, and is a published author on art and antiques. She has been the subject of feature presentations in the New York Times, Art and Antiques Magazine, and Forbes Magazine, and lectures throughout the country on the subject of collecting and connoisseurship.


For more information, you can email Caroline at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or This e-mail address is being protected from spambots. You need JavaScript enabled to view it


To reserve your copy of any Heritage auction catalog, or to discuss consigning your property for auction, please contact Caroline at 800.872.6467 ext. 1934


Heritage Auction Galleries boasts a mailing list of more than 1 million collectors, in more than 180 countries with sales exceeding $800 million. Heritage is proud to be the largest U.S. based auction house. For more information about Heritage's auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit


Want to get the up-to-the-minute updates and breaking news stories about Heritage? Get them as they happen at:;; Facebook: Heritage Auction Galleries.


Caroline Ashleigh - Heritage Auctions

Appraisal vs. Certificate of Authenticity

Appraisals are not certificates of authenticity; these are very different documents. An appraisal is an opinion or statement of the value rendered by a professional appraiser who acts as an independent, impartial third party. A certificate of authenticity is an opinion or statement of authenticity.

In preparing the appraisal an appraiser may rely on a certificate of authenticity as well as on third parties and/or published information, including catalogue raisonnes, exhibition catalogues, auction catalogues or other available information. Third parties might include scholars, museum curators, conservators, descendents or associates of an artist.

Appraisals are done for a variety of reasons, but all are related to establishing the value of an item or a collection, often for insurance purposes, for IRS reporting or for liquidating an estate. A certificate of authenticity is done to establish the authenticity of an item or items, and the COA may be provided to the appraiser as part of the appraisal process.

Read more:

Caroline Ashleigh Featured on Antique Trader

I’m thrilled to announce that I will be a regular guest blogger on the Antique Trader blog. My most recent post is about the liquidation by Christie’s of the collection of movie memorabilia owned by Debbie Reynolds. Over the years, Ms Reynolds collected numerous items and the collection has been valued at over $50 million.

I have always been impressed by the foresight that Debbie Reynolds showed in preserving this memorabilia. Many of her contemporaries scoffed her collection of movie posters, costumes, props and other items. But today, the collection represents a glimpse into our culture.

To learn more about Ms Reynolds' extraordinary collection, read the full post by Caroline Ashleigh at the Antique Trader Blog:

Appraiser Caroline Ashleigh pays respect to major Hollywood memorabilia sale on her new blog

And, for more information about the Debbie Reynolds collection, read:

The Final Curtain Goes Up, As The Auction Hammer Goes Down, On Debbie Reynolds' Collection

Read more:

What Should an Appraisal Contain?
The Elements of a Correctly Prepared Appraisal is a professional standard published by the Appraiser’s Association of America (AAA). It outlines the elements that should be included in an appraisal report. In addition to basic information, like the name and address of the client, the appraisal should include the following.

Information about the appraisal itself
  • Number of pages in the appraisal
  • Purpose of the appraisal and intended use
  • Type of valuation used (replacement value, fair market value, marketable cash value, liquidation value) and a definition.
  • Valuation approach used: cost estimate approach, income approach, market data comparison approach, etc.
  • Market in which valuation is applied (statement of most common marketplace)
  • Date of preparation of appraisal and the date of which objects were viewed and effective date of appraisal.
  • Market analysis: generic market history & possible projections for future activity.
  • Firm statement of value - not estimates, except when followed by detailed explanations of qualifications.
Information about the item(s)
  • A thorough description of appraised objects. Including measurements and weights when applicable
  • The condition of the appraised objects
  • The provenance (history of ownership) for the item(s), if available
  • How objects were acquired (especially for IRS purposes)
  • Comparables and related analysis, if necessary
  • Brief biography of the artists
  • Exhibition and publication history
  • Statement that the appraised object(s) correspond to description(s) listed in the appraisal.
Information about the Appraiser(s)
  • Statement that the appraiser’s fee is not contingent on appraised value of objects.
  • Statement that the appraiser has not been "disqualified" by the IRS (for IRS appraisals)
  • Curriculum Vitae of the appraiser(s).
  • Statement of “disinterest” on the part of the appraiser
  • Clear division of appraisal when more than one appraiser is involved. Who did what? Inclusion of CV of other appraiser
  • Signature(s) of Appraiser(s) & Tax ID number(s) when appraisal is prepared for IRS purposes
  • Statement of assumptions & limiting conditions

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How Frequently Should a Collection Be Appraised?
It is typically adequate to have a collection appraised every three to five years. However, if there are objects in the collection whose value fluctuates frequently or are in a category that has seen significant value changes, you may want to consider having the items appraised more frequently. By working closely with an accredited appraiser you and they can determine whether market forces dictate a more frequent appraisal schedule.

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Types of Appraisal Valuation: Liquidation Value
Liquidation value is defined by the AAA as “the price realized in a sale situation under forced or limiting conditions and under time constraints. This action may be initiated by the property owner or a crediting institution.”

In calculating two previously discussed valuations—marketable cash value and fair market value—it is assumed that the seller will have time to sell the property. In the event of liquidation, however, one cannot wait to market the property properly. In such instances, creditors may be willing to accept something less than full marketable cash value for the convenience of receiving cash in hand immediately.

Related Posts
Types of Appraisal Valuation: Marketable Cash Value
Types of Appraisal Valuation: Fair Market Value
Types of Appraisal Valuation: Replacement Value

Read more:

Types of Appraisal Valuation: Marketable Cash Value
Marketable cash value has been defined as “the value realized, net of expenses, by a willing seller disposing of property in a competitive and open market to a willing buyer, both reasonably knowledgeable of all relevant facts and neither being under constraint to buy or sell.”

This is similar to fair market value (FMV), but the essential difference being the phrase “net of expenses.” This term is most often used in equitable distribution situations such as divorce. In these cases, one partner is willing to receive ownership of property in lieu of cash. However, the person needs assurance that, should they decide at some point to sell, the money received would be close to the amount of cash originally sacrificed. Thus, the value used in this type of appraisal should be net of any sales commission or fee connected with the sale of the property.

Related Posts
Types of Appraisal Valuation: Liquidation Value
Types of Appraisal Valuation: Fair Market Value
Types of Appraisal Valuation: Replacement Value

Read more:

Types of Appraisal Valuation: Fair Market Value
Fair market value (FMV) is favored by the IRS and is defined as “the price that property would sell on the open market between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts.” FMV is what a property owner would expect to receive if they were to sell a newly purchased object at a later date. This is frequently less than what was originally paid, especially if top price had been paid. As a result, fair market value is most frequently a lower value than replacement value.

The IRS has determined that fair market value is a gross value and may include sales commission or buyers premium.

Related Posts
Types of Appraisal Valuation: Liquidation Value
Types of Appraisal Valuation: Marketable Cash Value
Types of Appraisal Valuation: Replacement Value

Read more:

Types of Appraisal Valuation
Depending upon the purpose of appraisal, the value assessed to an item or items of personal property may differ. The four major types of valuation used by personal property appraisers are:
  • Replacement value for insurance purposes
  • Fair market value for IRS purposes
  • Marketable cash value for equitable distribution (e.g. divorce)
  • Liquidation value in bankruptcy situations

In a series of blog posts will address these four types of appraisal valuations.

Replacement Value
Generally, the highest value used in appraising is replacement value. This value is most commonly used for insurance purposes and has been defined by the AAA (Appraisers Association of America) as “the amount it would cost to replace an item with one of similar and like quality, purchased in the most appropriate marketplace within a limited amount of time.”

In the event of a loss, a person would not be expected to wait a long time for a bargain to appear or to do extensive shopping. It’s assumed that the person would go out and purchase the same or similar item within a short amount of time, and for this convenience they would pay a higher price. Consequently, replacement value is generally the highest value for an appraised item.

Related Posts
Types of Appraisal Valuation: Liquidation Value
Types of Appraisal Valuation: Marketable Cash Value
Types of Appraisal Valuation: Fair Market Value

Read more: