Appraisal Types
Insurance Replacement Value
The value that would be required to replace a work with another of similar age, quality, origin and condition within a reasonable length of time in an appropriate and relevant market. For insurance company for your scheduled fine arts policy in case of losses due to fire, theft, damage, flood, etc.
Fair Market Value Appraisals
As defined by the IRS, an FMV appraisal is "the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having a reasonable knowledge of relevant facts."
Additional types
Other types of appraisals can be written and tailored for specific circumstances when required for estate planning, object donation to a recognized museum or institution, collateral, and liquidation of property and forced sales.
Appraisal Items:
Artwork, Silver, Jewelery, Documents, Porcelain, Books, Crystal, Memorabilia, Collectibles, Glass, Rugs, Chandeliers, Lamps, Orientalia, Ivory and more..
