There are a number of reasons why you may want to have the value of something in your home appraised by a trusted, qualified professional. For instance, home appraisers can estimate the value of your real estate, which is an essential step in the process of selling your home. Antique appraisers, meanwhile, can help you get the data necessary to insure your valuables, or help you determine if you’re going to put a piece of your collection up for auction.
If you need something in your home appraised by a qualified professional, you may be wondering how to go about getting an accurate valuation. Many appraisal firms specialize exclusively in real estate. It’s advisable to find an appraisal service in Maryland capable of establishing the valuation of all of your assets, including your home.
Things to appraise
There are a number of things in your home that you can have appraised. Appraisals are usually for the purposes of securing insurance, or bringing an asset to market.
Artwork, both vintage and contemporary, should be appraised by a qualified professional. Appraisers are also capable of dealing with a range of antiques, including antique furniture, antique jewelry and vintage fashion items.
Some appraisers also work with contemporary jewelry and high-value assets like classic cars. If you have any noteworthy collections of memorabilia, stamps, vinyl records or coins, you should have them regularly appraised to establish their value.
Pop culture memorabilia, like film set props or signed record copies, are often worth appraising on their own. Many people also opt to receive appraisals for vintage firearms and rare bottles of wine. Carpets, rugs and tapestries are often valued assets that are worth assessing.
When selecting an appraiser, be sure to discuss the breadth of your assets with them, and make sure that they possess the ability and expertise to accurately appraise everything in your possession.
Types of appraisals
There are several types of appraisal services available, depending on your specific needs:
- Liquidation value: Appraisers can help you determine the liquidation value of your assets. This is the value assigned to an asset that changes hands under forced conditions, like bankruptcy proceedings.
- Replacement value: The replacement value is the amount of money necessary to replace an asset, in the case that it’s stolen or damaged. The replacement value is usually used to insure an asset.
- Fair market value: The fair market value of an asset can be used to determine how much to sell it for, or how much is a fair price to receive at auction. The fair market value assumes that you’re selling the asset off of your own volition.
Jane Campbell-Chambliss & Associates, LLC is a family owned and operated appraisal firm offering a full range of services to our clients. We are proud to be the go-to appraisal service in Maryland. We offer all types of appraisals on virtually any asset that you may have. Reach out to one of our friendly, knowledgeable appraisal experts to learn more about how we can help you.