Appraisals and Auctions
We have in-house capabilities and work with ASA qualified specialists for performing professional appraisals and assessing fair market value and the insurance replacement value. Planning, Coordinating, Consulting – We organize, implement and manage the solutions you selected. Identification – we identify items for condition, historical, family specific, monetary or collectible significance.
FAQ’s: Appraisals, Fair Market and Insurance Replacement Value
Should I have an appraisal or a valuation?
Appraisals (for insurance and estate purposes) and valuations (fair market value) may help you from making tragic mistakes. Things have changed a lot in the past 30 years, and things we used to consider junk can have substantial value – and the reverse is also true! An appraisal is often used for insurance or probate purposes, or for the more valuable pieces. When household item values are modest, a fair market valuation may serve as a general guideline. However, if you are responsible for dividing the assets among heirs, an appraisal can be an excellent tool in helping to ensure fairness – verified by an independent 3rd party.
Does an appraiser value items high or low?
Different types of appraisals require different definitions of value. The most common are “Replacement Value” and “Liquidation Value” which represent the extremes for high and low. Often the appraiser establishes the “Fair Market Value” of the goods which typically fall between replacement and liquidation. When you are intending to use the item values for internal fairness in dividing the assets among heirs, the most important factor to consider is that all items are considered under the same appraisal approach.Contact Nancy today @ MOVING ON! Services