Appraisal Reports Charitable Donations Cost Approach 
International Society of Appraisers
MARCH 14, 2025
Further, appraisal reports must follow the latest version even if the appraiser has NOT taken the latest course. Publication 561 includes four ways to determine FMV: cost of the donated property; selling price of the donated property; sales of comparable properties; replacement value. sold prices).
Fine Art Estates
JANUARY 7, 2022
An insurance appraisal seeks to provide an estimated cost of what a collector would require to make the collector whole again if their art is ever damaged or stolen. Fair Market Value is used when a collector is settling an estate, needing equitable distribution, or making a charitable donation.
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