Bailment is a matter of property law. A bailment occurs when an individual (the bailor) in lawful possession of a piece of personal property gives over possession to another individual (the bailee) for a specific purpose, with the understanding that once the purpose has been achieved, the personal property shall be surrendered back to the bailor.

• Those bailments in which the bailor benefits (such as the bailor storing valuables at a neighbor's house for safekeeping while the bailor goes on vacation.) In this case, the bailee owes a low degree of care. In order to be held liable for damages done to the bailment, the bailee must be found grossly negligent.
  
  
• Those bailments in which the bailee benefits (such as the bailee borrowing a china dinnerware service from a neighbor for use at a dinner party). In this case, the bailee owes a high degree of care. The bailee must be very careful with the borrowed property because he or she could be found liable for any damages arising from even slight negligence.
  
  
• Those bailments in which both bailor and bailee benefit such as when a client allows the appraiser to take possession of a painting in order to get it tested or authenticated. While in the care and control of the appraiser, the client (bailor) expects that the appraiser will take care of their property, keep it reasonably safe, and return the property in the same condition in which it was received. Otherwise, the client will expect that the appraiser be responsible for his or her own negligence. In this third example, the bailee owes an ordinary degree of care.

This is the type of bailment scenario in which an appraiser might become involved. In such a scenario the appraiser would be well-advised to, at a minimum, take a reasonable amount of care when the item is in the appraiser's possession in order to prevent the property from being lost or damaged. To apply less than reasonable care could expose the appraiser to liability for negligence should damage or loss occur.

Developed by veteran course writer and instructor Dave Maloney, AOA CM in association with National USPAP Course Certified Instructor Bill Novotny, ISA AM, Appraising Personal Property: A Core Course in Valuation Studies Featuring USPAP is a six-day, on site, two-part comprehensive course covering the principles and methodology that lay the foundation for ethical, complete, reasoned, and well-communicated value conclusions and appraisal reports.

Part I of this course is taught by Dave Maloney, AOA CM on days 1 through 4 and makes use of Maloney's 416-page course book, Appraising Personal Property: Principles and Methodology - 2nd Edition. In Part I the student will learn the theory, principles and methodology of professional appraising including terminology, definitions, approaches to value, scope of work, intended uses of appraisals, IRS regulations, research techniques, report writing, sample appraisals and much, much more.

• Date: June 23-28, 2009
• Place: Ramada Inn BWI Airport, Hanover, MD
• Cost: $1350 plus text books
• More details

15-hour National USPAP Course (personal property version):

• Date: June 27-28, 2009
• Place: Ramada Inn BWI Airport, Hanover, MD
• Cost: $320 plus text books
• More details

I cannot remember ever taking a course, whether it was simply for pleasure or perhaps additional training for work, where I have gained so much knowledge in such a short period of time. And I cannot begin to imagine taking the Part II (USPAP) of your course without having taken Part I (principles and methodology) immediately prior. I simply would not have been able to pass the Part II USPAP test without first having understood the material presented in Part I. Your six-day appraisal course is well designed, well presented, very professional and highly effective. - L.Y.