Code of Ethics & Business Practice

Hughene Acheson understands that running her appraisal and art consulting practice is a pursuit requiring extensive knowledgeexperience and expertise in the field of Art; and as such accepts as her responsibility the duty to review and continually maintain the highest standards in her appraisal practice. Hughene pursues education yearly within her field and has been an active member in the ISA since 2009, and is also an active member of the Toronto Chapter of the ISA.

Hughene Acheson readily follows the Code of Ethics set forth:

I.) Assumption of Responsibility : It is the responsibility of Hughene Acheson, the appraiser to contract for appraisal work only within the areas of her professional competence and expertise. Every appraisal that is the property of Hughene Acheson Fine Art Consulting is signed and certified by Hughene Acheson. In the event that after contracting for an appraisal, Hughene discovers she is not qualified to carry out the full appraisal, she will call upon or recommend to the client and/or custodian of the property, an appraiser who is qualified for that portion of the appraisal not within her area of expertise.

II.) Objectivity : All items of property covered within an appraisal will be appraised objectively, INDEPENDENT OF OUTSIDE INFLUENCES and WITHOUT ANY OTHER MOTIVE OR PURPOSE than stated in the said appraisal. All items will be described accurately and all factors affecting their valuation must be stated clearly and concisely with the highest degree of accuracy.

III.) Examination of Property : All items for the appraisal will be examined personally by Hughene Acheson, or be so noted.

IV.) Purpose of the Appraisal : As appraisals are prepared under varying circumstances which can influence the valuation of the property, it is always necessary to determine the nature and purpose of each appraisal in advance and to note the nature and purpose for which said appraisal has been prepared.

V.) Valuation : An appraisal valuation is based on numerous factors affecting the value of the item to be appraised. Individual factors may vary from item to item, but in reaching a value conclusion all factors should be considered.

The following factors in each instance will be considered and included : a.) the purpose of the appraisal; b.) clear identification of each item with appropriate photo documentation ; c.) the valuation method used; d.) the valuation approach; e.) the quality of the item; f.) the condition of the item; and g.) where available the provenance and exhibition history of the item.

Where an appraisal is based on either wholly, or partially, hypothetical facts, such conditions and facts must be stated in the appraisal in clear and concise terms to afford the reader of said appraisal sufficient information to appreciate how the valuation has been reached.

VI.) Fees : Fees for appraisal service are based on an hourly rate. Under no circumstances will Hughene Acheson contract to perform services for a fixed percentage of the value of the items appraised.

VII.) Confidentiality : It is the appraiser’s responsibility to keep all appraisals confidential, or by due process of law, to release such appraisal.

Prior to the preparation of an appraisal, Hughene Acheson will make reasonable inquiry of her client as to how the item to be appraised was acquired. Hughene will not prepare appraisals for an items that readily appear to have a doubtful provenance or may be stolen property. Where Hughene is aware of clear and convincing evidence that the item may be stolen property, Hughene will inform the appropriate authorities of the facts as they are known to her.

VIII.) USPAP : All appraisals will be prepared in accordance with the guidelines set forth in the current editions of the ISA and the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation.