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Charmaine
L. Then
Personal Property
Appraiser |
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Associate Member: International
Society of Appraisers, Inc. |
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Court Experience: Testified
as expert witness for NYS Surrogate Court
and prepared paralegal appraisal documents
for the Public Administrations Office for
Erie County since 1996 |
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Able to provide different
types of appraisals, including fair market
value for large collections, insurance, estate
planning, charitable donation, collateral
loan, or loss/damage |
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14 years experience in the
field |
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| What is it worth? |
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| We all have personal property that we
would like to know the value of in monetary terms. It
is important to know which approach and method the appraiser
will use to determine this. There are important considerations
when hiring a personal property appraiser. Understanding
the basics of the appraisal process and the terms can
mean the difference between a qualified opinion that is
useful or an opinion that is considered unqualified and
worthless. |
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| What appraisal services do you offer? |
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| Written Appraisal |
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| The furnishings and other objects that
fill your house have aesthetic value, sentimental value,
and perhaps even shock value. Some, of course, have significant
monetary value. Although it is the most quantifiable gauge
of merit, the financial worth is a crucial step toward
properly insuring them and thereby protecting your investment
in the event of damage or loss. Moreover, appraisals are
required by the Internal Revenue Service for parsing the
tax implications of inheritances and charitable donations.
An insurance appraisal states the estimated cost to replace
an object in the current market. This is known as fair
market value. |
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| This is quite different from marketable
cash value, which is the type of appraisal required for
equitable distribution of estates, bequests and divorce
settlements. This appraisal figure represents the amount
you could expect to sell the item for right away at auction
or through a dealer, which may be only 10 - 50% of retail
replacement value. Our appraisal report fully describes
each item, including date of manufacture, origin, maker
or artist, medium, dimensions, provenance (if known) and
condition. This report is accepted by the Internal Revenue
Service, tax and estate planning professionals, insurance
firms, banks and courts. |
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| Digital Photographic Inventory
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| A digital photographic inventory furnishes
you with an accurate record of your personal property
in the event of a loss due to fire, theft or natural disaster.
This is compiled in a neatly bound document, complete
with a photo, article number and description of each item.
It will exceed the specific requirements of personal property
disbursements or insurance claims. Your personal inventory
can also incorporate supporting documents such as appraisal
records, bills of sale and certificates of authenticity.
Estate probate inventory will assist lawyers and family
members in dealing with the legal and emotional issues
related to the disbursement of personal property. |
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| Appraisal Fees |
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| The appraisal fee is based on the time
expended, transcription of tapes, documents or photography,
research time, transportation and travel expenses. It
is possible, based on the number of items to be evaluated,
to give a preliminary estimate in advance. Research time
(eg. authenticating pieces; consulting other experts,
auction records and catalogs) varies with each appraisal.
The entire appraisal process usually takes a week to one
month. |
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| If you have any questions about the different
types of appraisals or valuations, or if you wonder whether
your piece is worth having appraised, please give Charmaine
a call at (716) 812-1018 or fill out our contact
form. |
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