A “Free” Appraisal offered by someone such as an Antique Dealer, Jewelry Store or We Buy Gold Store is all-too-often not an “Appraisal,” but rather an “Offer to Buy.” An “Appraisal” is an Opinion of Value, put forth by an experienced, impartial, and unbiased professional, who has no personal interest in purchasing or otherwise acquiring that item,
At some point nearly everyone needs some type of appraisal, including such situations as:
• Insurance Appraisals: Insurance Companies need to know “What’s It Worth” before they’ll insure it, and they want a fair and impartial appraisal, not one performed by your best friend or brother-in-law. And they’ll also need to know “What’s It Worth” before they pay you after submitting a claim.
• Divorce Appraisals: Couples need to know “What’s It Worth” when dividing up community property as part of a divorce.
• Inheritance, Death, Estate and/or Probate Tax Appraisals: The IRS and State Tax Authorities want to know “What’s It Worth” when evaluating a decedent’s estate.
• Non-Cash Charitable Contribution Appraisals: You’ll need to justify “What’s It Worth” if you plan on taking a tax deduction for your donation(s).
• Equitable Distribution Appraisals: “What’s It Worth” can be extremely important when trying to divide personal property fairly among family members and heirs, especially when there is some disagreement on value.
• Moving Appraisals: The time to establish “What’s It Worth” is before the move, not after it’s damaged during the move.
• Curiosity Appraisals: Sometimes people just want to know “What’s It Worth” for peace of mind or life planning purposes.
• “CYA” Appraisals: Executors, Attorneys and other responsible parties usually find it preferable to avoid finger-pointing by hostile family members or heirs by bringing in an impartial and unbiased Appraiser to determine “What’s It Worth” rather than just picking a number out of the air.
If you need any appraisal help, call us at (215)-264-4304. We handle most types of written personal, business and legal appraisals. And if it’s outside our areas of expertise, we can probably refer you to someone who can help you.
WHAT’S IT WORTH: The fact is that nearly everyone wants a “Free Appraisal,” and relatively few are willing to pay for one. But before making a decision relying on information provided by a Free Appraisal, ask yourself this very simple question: Is the person giving you the “Free Appraisal” representing you … or themselves? The instant someone who has appraised your items tries to buy them, you should become suspicious.
Mike Ivankovich is an Auctioneer, Appraiser, Home Downsizing Expert, and host of the “What’s It Worth? Ask Mike the Appraiser” Radio Show. Now in its 6th year, “What’s It Worth” airs live in the Philadelphia PA area on Friday mornings from 9:30-10:30 AM EST on WBCB 1490 AM, and on the Internet at: www.WBCB1490.com. You can also visit his Radio Show Web Site: www.AskMikeTheAppraiser.com If your local station doesn’t carry “What’s It Worth” tell them they need to add it to their programing mix. If you know anyone who needs any Personal Property Appraisal work, or if you need a Speaker for an upcoming meeting or event, call Mike at (215)-264-4304, or visit: www.michaelivankovichMEETINGSPEAKER.com