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Determining Fair Market Value Part I

International Society of Appraisers

5/13/2025 12:00:00 AM Determining fair market value (FMV) can be a complex process, as it is highly dependent on the specific facts and circumstances surrounding each appraisal assignment. IRS Publication 561, Determining the Value of Donated Property , is the best starting point for guidance on determining fair market value.

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Evaluation to Valuation: Navigating Fine Art Appraisals

Art Appraisal Resources

How do you place value on something as intricate and subjective as fine art? In this post we explore fine art valuation and appraisal, how an appraisal is conducted and the different types of art appraisals. Your appraiser will also use knowledge of recent sales of comparable works to determine the artwork’s value.

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Part II: Understanding and Determining Fair Market Value in Canadian Appraisals

International Society of Appraisers

5/22/2025 12:00:00 AM Fair market value (FMV) is foundational in Canadian personal property appraisals prepared for charitable donations, estate administration, and cultural property certification applications. This means a consistently achieved market price, not an unusually high one-off sale.

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Why Accurate Appraisals Matter in the New Year

Penrose Appraisals

Below that number, you can do the valuation yourself, but may have greater peace of mind if you hire an appraiser. In any case, be sure you keep proper documentation (including a copy of the appraisal report) in order to avoid audits or, worse, penalties. Ensure Fairness in Estate Planning A loved one's passing away is never easy.

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Estate Tax Planning Strategies for Art Collections

Art Appraisal Resources

In this post, we will discuss the importance of accurately valuing your art collection, the estate tax implications of art collections, and strategies for mitigating estate tax liability. Appraisers also use comparative analysis to provide a basis for estimating the artwork’s potential market value.

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4 Reasons to Get an Estate Appraisal – Ray from ValuePros

ValuePros Appraisal Services

Accurate, IRS-compliant valuations are necessary to support those filings. In both situations, you need an independent expert who knows how to properly document fair market value. If the estate meets certain wealth thresholds, it may trigger the need to file an estate tax return.

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How To Determine If You Need An Art Appraisal

Art Appraisal Resources

An appraisal helps establish the artwork's current market value and ensures that you have the necessary documentation in case of loss, theft, or damage. On the other hand, buyers can benefit from an assessment to ensure they pay a fair price for the artwork's value.