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The appraiser will assess its condition, size, materials and overall condition. You can learn more about insurance appraisals in this blog post. CharitableDonation Appraisal When someone donates art to a museum or other nonprofit organization, a donation appraisal establishes the fair market value of the donated item.
Fair Market Value is used when a collector is settling an estate, needing equitable distribution, or making a charitabledonation. If you are making a charitabledonation, don’t wait until a week before Christmas to contact an appraiser. Sign up with FAE to receive our newsletter, and never miss a new blog post or update!
This valuation is commonly used for insurance purposes and reflects the cost of purchasing a similar item from a retail jeweler, considering materials, craftsmanship, and retail markups. When to Use: Estate planning Divorce settlements IRS-related charitabledonations 3.
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