Today we’d like to introduce you to Farhad Radfar.
Thanks for sharing your story with us Farhad. So, let’s start at the beginning and we can move on from there.
30 years ago, I had another small business, a fine art gallery. When a pipe broke in the gallery, my insurance company called in an appraiser to assess the damage. At the time, the appraiser was considered the best in town. His business consisted of just himself and his wife, who was his assistant. When I read the report, I could not believe the number of mistakes concerning the art and its condition. It made me think that the insurance company was relying on someone who was lacking in education and experience in the art field. I kept thinking, if this has happened to me, it has happened to someone else, and it will keep happening. Then I thought, my insurance rates are going to rise!
The whole experience made me realize the importance of research. I believe the best research is always performed by a group of dedicated people. They work together, question each other, hold each other accountable, and explore various possibilities. The majority of appraisers, even though they are very educated and qualified, tend to work alone. This is not the ideal situation for the client or for an insurance company.
Over the next four to five years I researched and learned by working with art dealers and appraisers. In 1994, I incorporated MIR Appraisal Services, and in 1996, with my certification from the International Society of Appraisers, I started approaching the appraisal business as my main job. Traditionally, appraisers have had multiple jobs in addition to appraisal.
We’re always bombarded by how great it is to pursue your passion, etc – but we’ve spoken with enough people to know that it’s not always easy. Overall, would you say things have been easy for you?
For 10 to 15 years the road was tough. Appraisers traditionally were antique dealers. It took time to convince insurance companies, museums, and attorneys the importance of research.
Often, I am called as an expert witness in court. Without the proper research, a lawyer can dismantle your findings quickly. An appraiser has to have the facts and be unbiased in their approach. An appraiser should not have an invested interest in the items they are appraising. It is important we remain neutral.
So let’s switch gears a bit and go into the MIR Appraisal Services story. Tell us more about the business.
I do not work alone, I always work as part of a team. I always hire the best, people who are educated and passionate. We are a group of individuals with a wide range of specialties. We even have a certified gemologist on staff. At MIR, we appraise all personal property (not real-estate) including, fine art, rugs, furniture, china, jewelry, etc. Personally, I specialize in 19th and 20th-century fine art, especially porcelain, but I am interested in all aspects of personal property. I oversee all research, and each and every report closely. Together we are consistently learning and expanding our knowledge, it is very exciting!
Has luck played a meaningful role in your life and business?
Luck is a very important part of any successful business. In my experience, good luck is having good people around. Bad luck is losing good people. I work hard building a team.
Contact Info:
- Address: 307 N Michigan Ave, Suite 308
- Website: www.mirappraisal.com
- Phone: 312-814-8510
- Email: info@mirappraisal.com
- Instagram: https://www.instagram.com/mirappraisal_services/
- Facebook: https://www.facebook.com/mirappraisalservices/
- Twitter: https://twitter.com/mir_appraisal
- Other: https://www.bbb.org/chicago/business-reviews/appraisers/mir-appraisal-services-inc-in-chicago-il-73001978/reviews-and-complaints/?review=true
Image Credit:
Kimberly Sipek
Getting in touch: VoyageChicago is built on recommendations from the community; it’s how we uncover hidden gems, so if you know someone who deserves recognition please let us know here.
