Certified personal property appraisals are an important part of any liquidation or downsizing situation. Appraisals are used by bank financing officers, estate, probate and divorce attorneys, bankruptcy courts, IRS auditors, insurance companies, and families and businesses needing a valuation determination of their possessions.
We provide professionally written, easy to understand reports that can be used in audits, property division decisions, judgments and insurance claims. Whether it be one item or a warehouse full, we can assess, research and valuate your personal and business property. As members of the Certified Appraisal Guild of America, our appraisals follow strict guidelines for assessing property valuations and are nationally recognized by Probate, Divorce and Bankruptcy courts as well as the IRS and major insurance carriers.
REPLACEMENT COST APPRAISALS
Replacement cost is one of the most popular valuation methods for personal property. Valuations are based on commonly or easily found items for sale in stores or retail outlets. Replacement cost appraisals are mostly used for valuations of general household items, collectibles, replacement items for insurance claims or policy protection.
ACTUAL COST VALUE APPRAISALS
Actual cost value is used for property that is considered one of a kind or rare. Insurance companies use this form of valuation for fine art, rare collections, coins, unique historical documents or memorabilia. This type of valuation is difficult due to the uniqueness of the item and the scarcity of comparable past sales from which to draw. One only needs to watch the Antiques Road Show to understand this valuation.
FAIR MARKET VALUE APPRAISALS
Fair market valuations are based on the everyday exchange of property between a buyer and seller. The transaction is identified by a willing seller and a willing buyer coming together and agreeing on a price at which the property should trade hands. Valuations are based on past sales of similar or like-kind items. This type of valuation is most used in assessing property for the downsizing or settlemet of an estate, possession divisions in cases of divorce, or direct purchases of personal property, inventories and fixtures.*
LIQUIDATOIN VALUE APPRAISALS
Liquidation values are used for estates and businesses that need a quick resolution to property liquidations. This is used most often for situations in court ordered sales, bankruptcy, clearance or seized property auctions.
* Direct purchase offers usually fall somewhere between liquidation and fair market values. However, expect most to be closer to liquidation values as most purchasers are re-sellers or brokers for wholesale sellers. It is their job to get the lowest price possible for personal property in order to make their profit. The advantage to the seller is that it is usually a quick transaction, you get your money upfront and the purchaser usually is responsible for removing the items from the premises. Just remember to require they also clean up afterwards.
Southern Trust Estate and Auction Company
Art and Artifacts
General Household Items
Firearms and Recreational Items
Lawn and Garden Equipment
Hobby Interest Items
Office Furnishings and Fixtures
Construction and Heavy Equipment
Trade Fixtures and Tools
Farm Tractors and Implements
Out Buildings and Sheds
Construction and Trade Materials
Shelving, Racks and Storage Containers
Scrap and Salvage Items
Please call today for a free consultation and to find out more about our certified personal property appraisals and how they benefit your business or estate.
(828) 654-8940 or
Serving NC, SC, TN, GA, KY and OH