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Reasons of valuations for tangible property can include estate and probate purposes, equitable distribution, insurance coverage, charitabledonations, dissolution of marriage, and bankruptcy. Appraisers may also assist with consulting and estate liquidation.
In this blog entry, we’ll discuss whether a person should get their antiques appraised for insurance purposes. And while they may hold significant sentimental value, antiques and decorative objects may also have considerable monetary worth.
When called to work on such leveraging of art for cash, an appraiser needs to be savvy enough to understand the type of value being sought—usually marketable cash value or orderly liquidation value, and needs to be completely independent from either party. Mr. Morse’s talk was a good introduction of the topic.
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. When to Use: Estate planning Divorce settlements IRS-related charitabledonations 3.
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