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Whether it is dividiing an estate, buying insurance, making non-cash charitable contribiutions or one of many other scenarios, an appraiser can help you and your family to make better decisions. Protect What Matters Most Nearly everyone knows the value of having homeowners insurance in case of fire, theft, or other loss to your home.
We thought it would be a great idea for him to select some of his favorite sold items and explain why those sales stood out to him. Take a look at his thoughts on a few of our partners’ recent sales. Placer Auctions , based near Sacramento, California, recently held a 341-lot sale that perfectly captured this trend.
Whether you’re looking to sell, insure, or simply understand the worth of your collectible, an accurate appraisal is essential. These institutions handle high-end antique sales and can provide more formal and widely accepted appraisals, particularly for rare or high-value items.
Desantis Should You Consider Insurance? Surprisingly, many collectors of “passion assets” don’t think to protect these valuables with insurance. However, in truth there is no “minimum value” to mandate insuring one’s treasured valuables and virtually ALL collections can benefit substantially from being insured.
A diamond appraisal is an evaluation of a diamond or piece of diamond jewelry, usually for insurance or estate purposes. An appraisal may be needed for a variety of reasons (insurance, donation, estate, divorce, etc.). For example, an insurance replacement value is generally much higher than a fair market value.
Value matters and an art appraisal completed by a qualified art appraiser can save you substantial money by not selling too low, insuring too low, or paying too much in estate tax or equitable distribution. Insurance Purposes: Artwork can be a valuable asset, and it is essential to ensure that it is adequately insured.
Most Fine Art Insurance professionals will agree that the best way to ensure that an insured loss is settled quickly and fairly is by properly documenting your art collection. Providing Proof: Proving you possessed an artwork can be as easy as having a photograph of it on the wall of your home and a related bill of sale.
If the rings were insured initially for the sale price of $10,000, they may feel slightly better. The insurance company is not to blame at all, as the value of record is $10,000 which is all they are obligated to provide. Work should be done on the prongs, shank(s) and insurance in order to avoid the circumstance listed above.
By Ray Nugent Fine Art Insurers require more frequent valuation updates for Fine Art items than other less dynamic markets. Conversely, a low auction sale can impact a genre and other works by the artist. Insurers are keenly aware of this phenomenon and therefore, require regular valuations updates, typically, every 2-3 years.
An appraised value for insurance may be significantly higher than an appraised value for planned future sale, which can be baffling and difficult to comprehend without a familiarity with the different levels of the market. The next level down of value is Actual Cash Value.
Whether it's a family heirloom passed down through generations or a recent acquisition, knowing it's worth not only provides peace of mind but also serves practical purposes such as insurance coverage, resale considerations, and estate planning. It considers factors such as demand, condition, and comparable sales.
Your appraiser will also use knowledge of recent sales of comparable works to determine the artwork’s value. The appraisal report is a crucial document used for various purposes, such as insurance, taxation, sale, or donation, and is often required to be conducted by a certified appraiser to ensure its credibility.
Though you may be tempted to try to hold a garage sale on your own, once you begin you will quickly realize that this task is time consuming, frustrating and you have a lot more stuff than you ever imagined. Ensure the liquidator can hold the estate sale in the time frame you need.
Many of the items in the sale came from two prominent estates: financier and philanthropist Richard P. Mellon and insurance executive Henry B. HUDSON, NY — Works by Ralph Eugene Cahoon, Jr. and Thomas Chambers blew past their high estimates at Stair August 1. Complete results are available at LiveAuctioneers.
A piece appraised for insurance replacement has a very different value than one being appraised for resale or estate division. We tailor the appraisal to suit the intended usewhether its for insurance, estate settlement, resale, charitable donation, litigation, or collateral loans.
Art Sales When contemporary art owners decide to sell their pieces, they may request an appraisal to establish a realistic asking price. Auction houses, galleries, and art dealers often require a certified art appraisal to estimate and reserve artwork sales prices. Extensive research is a vital part of the appraisal process.
Using them through eBay is a “no go,” and collecting insurance on an antique or collectible is also a “no go” (they advise you to use a homeowners policy for insurance). In both cases, the surcharges caused me to lose money on the sales, and there was no recourse. Clearly, insurance is also a major issue.
Insurance Purposes: Insurance companies often require detailed documentation for jewelry appraisals to determine coverage amounts and premiums accurately. Proper documentation ensures that your jewelry is adequately insured against loss, theft, or damage. This includes information about the materials used (e.g.,
Individuals can use this appraisal to better grasp the true value of their jewelry for various reasons, including reselling it, obtaining insurance for it, or simply satisfying their natural curiosity. Determining an Accurate Value Insurance Coverage: Knowing the exact value of your jewelry helps you obtain the right insurance coverage.
This small drawing with a distinctive monogram was purchased in 2017 at a yard sale for $30 and valued at over $10,000,000. I persuaded their insurance company to underwrite the insurance coverage for the total value while in transit and evaluated by the foundation pending proper authentication.
You need to analyze comparable sales data in the most common market where transactions to the public most frequently occur. the market in which sales to the public most frequently occur). Consider the purchase prices and comparable sales first. As appraisers, we are market researchers. You do not choose one of the four options.
Jewelry Insurance Accidents happen, and jewelry can be lost, stolen, or damaged. An accurate jewelry appraisal ensures sufficient jewelry insurance. Your insurance company will cover whatever happens to your jewelry, may it be monetary compensation or replacement during unfortunate circumstances.
You can prepare an insurance appraisal for a client, friend, or neighbor (note: appraisals for family members or your own collection do not count). If you're helping with a collection sale or estate sale , you can appraise the items involved, including those your client decides to keep. dinner or wine).
Gustave Caillebotte: Painting His World, on view at the Art Institute of Chicago 29 June until 5 October AUCTIONS Keep your eye out for the Exceptional sales and No Reserve sales that happen in July!
I’m sorry my mother has already passed because if she were still alive, she’d probably kill someone!” (Meaning the initial sale was made by telling the customer that the stone was real. The piece will never be sold or insured so the owner merely needs a confirmation about its identity-not a long and expensive piece of paper.
Seippel was insured, but the process for claiming the loss, providing records of the contents and assets in the home, and dealing with adjusters, claims reps, and contractors was arduous. Seippel explained, “Nobody knows what’s in your house better than you—not the bank, the insurance company, or anyone else.
How much should you insure them for? Ideally, your appraisal will result in a reliable price estimate for insurance, tax or resale value. Retail Replacement Value for Insurance Coverage People will often get a Retail Replacement Value appraisal for insurance prices. Can you get a good price if you sell them?
Insurance Coverage Ensure the estate liquidator you hire has adequate insurance coverage to protect you and yourself from accidents, damages, or theft during the estate sale or auction. Request proof of their insurance before finalizing your agreement. What Goes Into the Pricing? Petersburg, and surrounding areas.
Reasons of valuations for tangible property can include estate and probate purposes, equitable distribution, insurance coverage, charitable donations, dissolution of marriage, and bankruptcy. As a personal property appraiser, my role encompasses tangible property including fine art, antiques, furniture, and collectibles.
Personal property appraisers play a key role in making sure you get the most out of your estate sale. Estate sales can be overwhelming. This information is super important for your estate sale because it helps you set fair prices and attract buyers who understand the worth of your items.
There may be many fond memories associated with examples that were gifted, purchased while traveling, or found hidden away in a box at an estate sale. At some point, the collector needs to turn his or her attention to insuring what has been patiently and joyously gathered over the years. Tragically, the dress is lost in a fire.
Because its extreme rarity produces reliably high sales, Scott Trepel—president of the auctioneer, Robert A. He produces content across a wide range of industries, including antiques, insurance, and real estate. Siegel Auction Galleries—considers the Z Grill stamp a “Blue Chip Stamp.” Siegel Auction Galleries.
The sale comes after the painting, View of Olinda, Brazil, with Ruins of the Jesuit Church , was recovered from a barn attic. He produces content across a wide range of industries, including antiques, insurance, and real estate. million, according to the Robb Report. To learn more about Dan, please visit his website.
It’s important to have a budget in mind and to be aware of any additional fees, such as buyer’s premiums, that may be added to the final sale price. Pawn Shops: While not typically the first choice for diamond purchases, some pawn shops may have diamonds and diamond jewelry for sale at discounted prices.
The ability to add videos, photos, and scans of important paperwork—such as Certificates of Authenticity (COAs) and sales receipts—means that if the worst happens, homeowners can easily access documentation of their lost items for the insurance process. WorthPoint—Discover.
There are many online platforms where you can list your coins for sale, such as eBay, Amazon, Craigslist, and Facebook Marketplace. They offer competitive prices and fast shipping, but you must pay for the shipping and insurance costs yourself. You must also wait for the payment to clear, which can take a few days or weeks.
Whether you're insuring valuables, managing an estate, or planning for a sale, having an accredited personal property appraisal provides clarity, security, and peace of mind. Legal and Insurance Requirements In many cases, insurers and courts require an accredited appraisal to validate claims.
Do you need to have a collection appraised for insurance? For example, a client cannot use a restricted appraisal as a basis for a sales price with an auction house or antique dealer. Likewise, it cannot be used for insurance purposes. For insurance purposes, the appraisal report is written for replacement value.
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This type of appraisal is commonly used when insuring personal property, as it provides a realistic estimate of the funds needed to replace the item in case of loss, damage, or theft. – It is typically used for insurance purposes to ensure adequate coverage. – It considers depreciation, quality, and condition of the item.
billion in the next five years as it increasingly attracts younger and first-time buyers, British insurer Hiscox said on Monday. London-listed Hiscox, which underwrites cover for oil rigs, kidnappings, fine art and vintage cars, estimated the value of global online art sales at $1.57 billion in 2013. billion in 2018.
Also in February, I appraised a collection of guitars for purposes of buying insurance. It's important to realize that your homeowners' insurance does not automatically cover items of unusual value such as antiques and collectibles. These appraisals are key to making sure you and your insurer are on the same page.
Whether you're curious about the value of your collection, planning for insurance coverage, or considering selling pieces, understanding how to appraise jewelry is essential. It's crucial for insurance scheduling, ensuring adequate coverage in case of loss or damage.
Why Provenance is Paramount As the holiday season approaches with calendars full of significant auctions and art fairs, you’re probably finding your inbox filled with emails reflecting on the sales trends expected to shape the market in the coming year. Allen, and the Ann and Gordon Getty Collection.
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