article thumbnail

Why Accurate Appraisals Matter in the New Year

Penrose Appraisals

Read on for more about how appraisals can help. Start Tax Season Right Appraisals are crucial for valuing charitable donations. Non-cash charitable donations can play a big role in reducing your taxes when you itemize. In order to get the biggest deduction, you need an accurate appraisal.

article thumbnail

Evaluation to Valuation: Navigating Fine Art Appraisals

Art Appraisal Resources

Your appraiser will also use knowledge of recent sales of comparable works to determine the artwork’s value. You will be provided with a comprehensive report including a description of the work, the valuation method used and the final appraised value. You can read more about estate tax appraisals here.

article thumbnail

9 Reasons Why Should You Hire an ISA Personal Property Appraiser

International Society of Appraisers

1/31/2024 12:00:00 AM Hiring an ISA personal property appraiser provides many benefits. There are numerous reasons to seek a professional appraisal, including planning insurance coverage, charitable donations, probate of an estate, or simply determining the value of your tangible assets.

article thumbnail

RESEARCHING Your Art, Yourself, Is a Bad Idea!

Coronado Appraisal

An appraisal needs to be presented to your buyer, or, especially, the consignment gallery, auction house…etc., Having a legal and professional Appraisal Report is required if you are submitting the information to the IRS, or if the report will be viewed by an attorney or judge. that will help you Sell your Artwork.

article thumbnail

Donating Property Instead of Selling into a Challenging Resale Market

ValuePros Appraisal Services

So why not skip the stress of selling and opt for the feel-good option of donating? It’s a win-win situation!

article thumbnail

What Kind of Appraisal?

Drishti LLC Appraisers

SAFEGUARDING YOUR COLLECTION A full appraisal report can be shared with specified entities, such as an insurance company, a lawyer or legal firm, accountant or anyone specified in the contract. It is the type of appraisal report we most commonly provide for our clients. It is for your information only.

article thumbnail

How Do I Get My Art Appraised?

Fine Art Estates

Fair Market Value is used when a collector is settling an estate, needing equitable distribution, or making a charitable donation. A sample appraisal report also needs to be submitted and reviewed by a committee of certified appraisers. These documents can be scanned and inserted into the appraisal report.