TYPES OF APPRAISALS
Fair Market Value
A price at which a willing buyer and seller, neither being under any obligation, would agree to complete a sale. Fair market value is used for inheritance tax, estate planning, marital and and business division. and charitable contributions.
Liquidation Value
A monetary value given to property that is sold or exchanges hands under a forced or limiting conditions, such as bankruptcy.
Replacement Value
A monetary value necessary to replace property with something of similar origin, condition, provenance, quality and age. This appraisal is used for insurance purposes, to be attached to your policy as a Fine Arts rider.
Evaluating Appraisals
Our firm offers experienced appraisers, with extensive knowledge in furniture, silver, decorative arts, oriental rugs, porcelains, capital assets, commercial/farm machinery and equipment, classical vehicles and boats. There are a variety of reasons for obtaining an appraisal: estates, partition, insurance, equitable distribution, business liquidation and resale. Our appraisers keep pace with the fluctuating market trends through our private and public on-line resources, auction prices and extensive library of reference materials.
Who Are Our Appraisers?
Our firm is affiliated with:
- National Auctioneers Association (NAA)
- Auctioneers Association of Maryland (AAM)
- Graduate Personal Property Appraisers (GPPA)
- Master Personal Property Appraisers (MPPA)
What to Expect from Our Appraisers
We will deliver a detailed inventory prepared by a professional appraiser, presented in compliance with the Uniform Standards of Professional Appraisal Practice based on a physical inspection of the property, supported with photos and/or an optional on-site video.
Cost of Service
The cost is either a flat rate or an hourly rate, it is not a percentage of the property’s value.
Insurance Update Service
Once our firm has performed an appraisal for you, your appraisal will automatically be placed in our private database. This will allow us to review your appraisal about every three years or as the market demands at your request. This review serves as a reminder to add or delete items from the inventory, in order to have a current listing of your assets.