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As a personal property appraiser, my role encompasses tangible property including fineart, antiques, furniture, and collectibles. Reasons of valuations for tangible property can include estate and probate purposes, equitable distribution, insurance coverage, charitable donations, dissolution of marriage, and bankruptcy.
Here are several compelling reasons why you should hire an ISA credentialed personal property appraiser: Specialized Expertise: You can find ISA personal property appraisers that specialize in specific types of items, such as fineart, jewelry, or antiques.
In my firm’s appraisal assignments, I’ve found that Retail Replacement Value is the main level of value used in fineart and antique insurance coverage. Liquidation Value is often used in bankruptcy contexts. The next level is Fair Market Value.
I would avoid the ‘online-only’ category, the weekend-hotel ballroom bankruptcy auction, and any auction on a cruise ship. As always, give us a call or shoot us an email with any of your fineart needs, we are happy to help! . · If you want to buy at auction, check out the auction house before you bid. Brenda Permalink
Legal Matters and Divorce Settlements In cases of divorce, bankruptcy, or disputes, an independent appraisal can be necessary for legal proceedings to determine an artworks value for equitable distribution or financial settlements. Courts and attorneys often require a professional valuation for accurate asset division.
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