For those who have collections of any kind.
Art, comics, books, sports memorabilia, dolls, civil war, figurines, coins, pottery,
antiques and more.
Most collectors collect because of the intrinsic value or beauty of the items. Emotion is
also important. With this in mind, and whether you have a small or large collection,
one must keep an updated appraisal for various purposes.
- Insurance: many insurance companies require a recent (less than 3-5 years)
appraisal of valuable items on riders. This gives you the correct amount for insurance premiums and claims.
- Buy/sell: knowing what the market bears in varying economies is essential
in negotiating.
- Non cash charitable contributions:
the IRS has laws that requires that non cash charitable contributions of $5,000 or more, undergo an appraisal, together with
IRS Form 8283.
- Confidential and private collections:
you do not want anyone to know what you have- a confidential appraisal is needed to keep you personally informed.
- Estates: knowing the values of certain items for disposition to heirs to
continue your legacy.
It's a fact that most collectors do not insure
their entire collection. They don't want people to know what they have- it's private. We understand that. We are discreet
and do not share your information with anyone without your permission (eg.your insurance company), and I'll put it in writing to protect you..
Most collectors research the values of their collections by themselves for insurance and for buy/sell purposes.
You want to know what the market bears for your items.
Insurance companies like to have a third party appraisal proving the value. This is a better way
to protect your collection should anything happen to it. It also assures that you are paying the correct amount of insurance.
.
If you want to sell, or add to your
collection, then a certified appraisal is helpful. This gives you proof of value in order to sell or buy at the correct amount.
No surprises, better negotiating.
