Remove Age Remove Charitable Donations Remove Sales Comparison Approach
article thumbnail

Office Hours Information from March 2025

International Society of Appraisers

This quote is in the context of IRS Publication 561, which provides guidance for determining fair market value for charitable donations; therefore, this quote must be understood within that specific context and intended use. This is because we use different approaches for determining fair market value and replacement value.

article thumbnail

What Kind of Appraisal?

Drishti LLC Appraisers

For one-of-a-kind artworks, the basis for comparables is usually other works by the same artist, or artwork of similar renown, age, materials and genre. On the other hand, Market Value takes into account the more specific circumstances of a sale, and is used for the intention of liquidation.