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There are numerous reasons to seek a professional appraisal, including planning insurance coverage, charitable donations, probate of an estate, or simply determining the value of your tangible assets. Accurate Valuation: ISA personal property appraisers are highly educated professionals with expertise in assessing the value of various items.
GL-1, an appraiser is “one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective.” Reasons of valuations for tangible property can include estate and probate purposes, equitable distribution, insurance coverage, charitable donations, dissolution of marriage, and bankruptcy.
All appraisal reports written in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) have to include identification of the level of the market the appraised values are set in and the effective date of the valuation. Liquidation Value is often used in bankruptcy contexts. The next level is Fair Market Value.
This guide will help you determine if your artwork needs a professional valuation and why it matters. As an appraiser, my role is to provide an unbiased, well-researched valuation tailored to your specific needs, whether for insurance, estate planning, donation, or sale. What Is an Art Appraisal?
This valuation is commonly used for insurance purposes and reflects the cost of purchasing a similar item from a retail jeweler, considering materials, craftsmanship, and retail markups. Higher Valuation : Includes retail markups, overhead costs, and the jeweler’s profit margin.
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