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Code of Ethics

The profession of art appraising, as compared with real estate appraising for example, is not regulated by any local, state, or federal agency. For this reason, the Code of Ethics serves to provide certain guidelines and principles of conduct for members holding appraiser status with the HAEAS' Accredited Appraiser (HAA) designation.

The following Code of Ethics provides the framework that all HAA members must abide by in professional conduct and in providing appraisal services.

Purpose

To ensure that appraisers are professional at all times in the pursuit of their appraisal profession; to maintain high standards of integrity, competence, and education; and to uphold the image and reputation of HAEAS as a professional organization.

Adherence

All HAA members shall possess full knowledge of and comply with the Code of Ethics.

Appraiser Personal Responsibilities

An appraiser's Personal Responsibilities, at a minimum, are to:

  • Conduct oneself in a professional manner at all times
  • Provide professional and courteous service
  • Maintain qualification and expand his or her knowledge in the areas of expertise
  • Comply with all laws and regulations affecting the appraisal profession
  • Contract for appraisal work only in the areas of expertise
  • Maintain highest level of trust and integrity

Appraiser Client Responsibility

An appraiser's Responsibility to Clients, at a minimum, are to:

  • Maintain client confidentiality at all times, meaning that all efforts are to be made to protect the unauthorized disclosure of a client's appraisal information
  • Provide true and accurate account of facts, data, or opinions involving appraisals, without bias or overemphasis
  • Maintain confidence of client
  • Disclose and avoid conflict of interests when in question

Appraisal Practice

HAA members shall conduct their appraisal practice using recognized theory and approved methods developed for the appraisal profession. Objectivity is of the utmost importance when doing an appraisal, without any influences or other purpose than what is stated in the specific appraisal contract. A properly prepared appraisal report must contain the necessary disclosures pertaining to the valuation determination of the objects being appraised.

Appraisal Fees

HAEAS does not recognize appraisal fees based on a percentage of the valuation found or a flat fee rate for the appraisal contract. Fees for appraisal services should be based on an appraiser's hourly rate and or for services rendered. In either instance, the fee should be determined and agreed upon with the client prior to starting the appraisal.

Enforcement

HAEAS enforces the Code of Ethics vigorously and ensures that all HAA members have read and understood them. Any complaint of a violation of the Code of Ethics is taken very seriously and investigated upon immediately by an independent committee to determine whether there was indeed a violation, and if so, the cause of such violation and necessary corrective actions to be taken.

Complaints regarding a HAA member should be submitted in writing with all documentation and submitted to:

HAEAS, Inc.
P.O. Box 182
Gaithersburg, MD 20884-0182