Whenever there's a question about the value of personal property, there is also a risk involved:
It may be the risk of selling too low, or paying too much;
The risk of being under or over insured;
The risk of not getting your fair share in a division of property;
The risk of incurring tax penalties or being audited when claiming a deduction for charitable contribution or when calculating estate taxes.
A professional appraiser helps you manage these and other such risks by providing a written opinion of value upon which you can base your financial decisions for insurance, estate, non-cash charitable donation, equitable property dissolution, or resale and liquidation.
Bankers, financiers, investors, insurers, adjusters, estate managers, trustees, executors, attorneys, judges, federal and state tax agencies ALL depend upon the knowledge and expertise of the professional trained appraiser.
The professional appraiser’s value conclusions are based on prescribed methods or evaluation, research, and report writing rather than just being an "educated guess".
WHEN A PROFESSIONAL WRITTEN APPRAISAL IS NOT REQUIRED the client may choose to have a:
Verbal Approximation of Value (VAV) which is an oral evaluation judgment based upon the appraisers past experiences, consultation with others in the field, and reference materials. Verbal Approximations are often done at Appraisal Fairs, for Sales, for Resale, Liquidation, and General Client Information. A Verbal Approximation of Value DOES NOT include formal documentation or photography.
“The Moccasin Maker” Eanger Irving Couse (1866-1936)
