If you are only isolating for an error then this should do
=if(iserror(d3),"bark","bite")
However it will show "bark" for all instances of error like #N/A, #Div

"Jim J." wrote in message
...
Is there some way to get #VALUE! recognized as one of the conditions of an
IF
function argument? For example, if D3 shows #VALUE! (as the result of a
"value error"), then one could ask, =IF(D3=#VALUE!,"bark","bite") or
possibly
=IF(D3="#VALUE!","bark","bite"), and the result would be "bark" (since D3
really does equal "#VALUE!").