Which statement is TRUE regarding the appraising of personal property?

The statement that appraising personal property is an opinion of value that is normally not required to be conducted by a certified appraiser is accurate. In many cases, appraisals of personal property, such as collectibles, antiques, or other items, can be performed by individuals who have experience and knowledge of the market, rather than exclusively by certified appraisers. This flexibility allows various stakeholders, including auctioneers, collectors, and individuals, to assess the value of items based on their expertise without the need for formal certification.

While certified appraisers may bring a depth of knowledge and formal training to the process, it is not a legal requirement for every appraisal. This is particularly common in informal settings, such as estate sales or minor auctions where the appraiser's subjective experience can sufficiently inform the value of the item. Therefore, the focus here is on the nature of appraisals as opinions of value, which reflects market trends, demand, and condition, rather than being strictly regulated or requiring certification in all circumstances.