New York Estate Appraiser
Estate appraisals are usually of residential contents for the purpose of estate tax, equitable division of assets or liquidation. Residential contents or personal property may include antiques, decorative and fine arts, silver, jewelry and household furnishings.
What does an estate appraisal involve?
The estate appraisal will list a detailed written description of the items, including country of origin if known, age, material, maker marks and any edition numbers and or model numbers that are available. Dimensions of all items are documented. Measurements and weights of precious metals with calibrations for precious stones are submitted along with photographs of the jewelry.
We then use the market comparison approach which analyzes recent sales records of comparable articles at major international and regional fine art auctions, trade shows and exhibitions, as well as prevailing prices at retail stores, web stores and galleries where the article may normally be traded. Adjustments are then made for each article which considers age, condition, rarity, artistic merit, technical workmanship, current trends and availability of an article as compared to such recent sales.
The estimate on an estate appraisal is Fair Market Value. Fair Market Value is the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts.