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An appraised value for insurance may be significantly higher than an appraised value for planned future sale, which can be baffling and difficult to comprehend without a familiarity with the different levels of the market. Sales tax is not included in the calculation of fair market value, although Bidder A may have had to pay it!
Reasons of valuations for tangible property can include estate and probate purposes, equitable distribution, insurance coverage, charitable donations, dissolution of marriage, and bankruptcy. Appraisers may also assist with consulting and estate liquidation.
A property appraisal is useful in situations like buy/sell transactions, auctions, and liquidationsales. Learn the ins and outs, from process to pricing. The post Personal Property Appraisals 101 appeared first on DailyDAC.
Fair Market Value and Marketable Cash Value: Assesses the value of jewelry for resale, estate planning, inheritance, or tax purposes based on current market trends and comparable sales. Liquidation Value: Liquidation value is the amount an asset, like jewelry, could fetch when sold quickly under duress, such as in bankruptcy or foreclosure.
Do you want to liquidate? For example, a client cannot use a restricted appraisal as a basis for a sales price with an auction house or antique dealer. Comparables for Fair Market Value are relatively recent, actualized sales of pieces by the same artist or artwork of a similar renown, era, materials and genre.
Here, I’ll explain the four main types of value in jewelry appraisal— Retail Replacement Value , Fair Market Value , Marketable Cash Value , and Liquidation Value —and when each is used. It’s a practical estimate of what the item might fetch in a fair and open-market sale.
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