Summary
Before selling or borrowing against personal property, learn its value. Antiques, artworks and other collectible items often have such an individual nature that fixed values are difficult to establish. For such individual items, you should at least be able to determine a range.
You can get an idea about what your personal property is worth by a variety of means.
An easy place to start is by looking on the internet.
- Auction sites such as ebay.com and LiveAuctioneers.com will give you an idea of what comparable items are being sold for for free.
- Consider subscribing to a database of auction-house sales. For instance, while each of the following sites have a charge, they both offer a free preview. They can also help you identify auction houses which specialize in your type of property.
- You can get an idea of value from appraisal sites such as instappraisal.com (free appraisals) or ValueMyStuffNow.com (for a small fee). The ValueMyStuffNow site is based in England and the home page shows British pounds. For U.S. dollars, select the currency on the 'Pricing' page before you proceed.
You can also get an idea of value from an appraiser (an expert on current value of property), local stores or flea markets. Suggestions for obtaining value of items such as automobiles, jewelry and household and other less expensive items are discussed in other sections of this document. For more information see:
- How To Find, Choose And Work With An Appraiser
- How To Value Household And Other Inexpensive Items
- How To Value An Automobile
- How To Value Jewelry
How To Find, Choose And Work With An Appraiser
To find an appraiser
Check with the following:
- General:
- The American Society of Appraisers, 800.ASA-VALU or 703.478.2228 www.appraisers.org ,
- Appraisers Association of America 212.889.5404 www.appraisersassoc.org
- International Society of Appraisers 206.241.0359 www.isa-appraisers.org
- National Association of Professional Appraisers 617.720.0332 www.professionalappraisers.org/index2.html
- Call the clerk at your local probate court and ask who the court uses for appraisals.
- You can get a detailed virtual appraisal at www.ValueMyStuff.com The site is based in England and the home page shows British pounds. For U.S. dollars, select the currency on the 'Pricing' page before you proceed.
- Books: Antiquarian Booksellers Association of America 212.757.9395 www.abaa.org
- Jewelry: National Association of Jewelry Appraisers 410.261.8280www.najaappraisers.com/html/find_an_appraiser.html
- Livestock and Farm Equipment: American Society of Agricultural Appraisers www.amagappraisers.com
For an estimate on a specific item, hire a specialist on an hourly basis if you can't find an appraiser.
When choosing an appraiser:
- Look for someone with experience and education relevant to the items you are selling,
- Do not hesitate to ask for evidence of expertise.
- Watch out for conflict of interest. Do not rely on the appraisal of a dealer to whom you are considering selling the item.
- Ask about the cost of an appraisal.
- The charge should be based on the amount of time it takes to inspect a piece, do research and prepare a written document if you need one.
- You can often obtain a free appraisal from a dealer or auctioneer who hopes to get the object to sell.
When working with an appraiser:
- Be clear about the reason for your appraisal. Appraisal values differ depending on the use. For instance, appraisers give a lower value to items that are being valued for estate tax purposes.
- Show the appraiser the item, not a photograph. Photos are not as reliable as in-person inspections.
How To Value Household And Other Inexpensive Items
For household and other inexpensive items, you can get an idea of value by:
- Look in thrift stores and tag sales in your neighborhood
- Check with an online auction site, such as www.ebay.com or LiveAuctioneers.com
- Read through price guides which are available in bookstores or public libraries
- Speak with dealers active in buying and selling antiques
- PriceMiner.com claims to be "the most comprehensive pricing tool in the world". It can help identify, research and price your items. PriceMiner.com charges a fee. See www.PriceMiner.com
- For antique items that may be similar to yours, look at www.p4a.com
If you have additional tips for people to learn the value of their items for free, please let us know at Survivorship A to Z
How To Value An Automobile
If you are thinking of disposing of an automobile, you can find out online how much its worth at sites like Kelley Blue Book (www.kbb.com ) and Edmund’s (www.edmunds.com ).
How To Value Jewelry
To determine the value of jewelry, contact at least two reputable local jewelers. For more expensive items, it is advisable to check with at least one jeweler in a large metropolitan area if you don't live in one.
To locate qualified independent appraisers, contact one of the following organizations which are listed alphabetically:
- American Society of Appraisers: http://www.appraisers.org Tel.: 703.478.2228. Master Gemologist Appraisers are trained to appraise all types of jewelry.
- American Gem Society: www.AmericanGemSociety.org , Tel.: 866.805.6500. Look for Independent Certified Gemologist Appraisers
- Natonal Association of Jewelry Appraisers: http://www.najaapraisers.com, Tel.: 718.896.1536. Look for a Cerfiied Senior Member or a Certified Master Appraiser.