Do you know about - Autograph Values - Identifying the Value of an Autograph - So, What's It Worth?
Donation Request Letter! Again, for I know. Ready to share new things that are useful. You and your friends.Perhaps the most generally asked interrogate I hear is; "So, what's it worth?" The interrogate may pertain to a four language ship's paper signed by James Madison and James Monroe, a signed photo of movie star and sex symbol Marilyn Monroe, or a hand-written letter by Union general (posthumously promoted) Samuel K. Zook. oftentimes it is an innocent ask for a "ball park figure" on a definite item. As a expert appraiser it is difficult to formulate a easy one-word answer.
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Each item has many dissimilar values. The Madison / Monroe document, for example, will be shown to have at least four dissimilar values -- and each one will be correct. How can that be? It depends upon the market.
You are probably well-known with the term "market." A market is any place or principles for exchanging property in the middle of buyers and sellers. A market can be a sell gallery or a flea market. It can be a bankruptcy liquidation sale or a mail order catalog. The internet and other on-line services are markets for the buying and selling merchandise. The "value" at which the item is sold may be dissimilar in each market. The term "Fair market Value" is a legal definition used in a variety of instances. Charitable contribution, dissolution of marriage, or estate tax liability, may be circumstances when fair market value is required. "Fair Market" does not mean "reasonable." The term "fair" comes from old English law, meaning open and free market, as in a "market" or "fair" where goods are bought and sold.
This value may be very dissimilar than sell value. In situations when man is curious in insuring an item, a sell exchange cost may be most appropriate. It all seems quite confusing, but once you identify the fancy you want to know "what its worth" then a value can be provided. The "reason one needs to know" is referred to in appraising as the "function" of the appraisal. It is also called the "intended use" or the "assigned use." With a known "use," the approved market can be researched.
Markets range from high-end, high-quality, sell autograph galleries to flea markets and stable sales. discrete capability and all types of material can be found within any market. An example is the multi-million dollar Dunlap copy of the declaration of independence reported to have been found behind and old photo at a stable sale.
Here are some examples of situations where the value is dependent upon "use" or "need." The market researched is based on the use and value required.
If the report's function is to gain assurance coverage, the evaluation will identify the estimated exchange cost. The market to research is the gallery where the item was purchased.
If the report's function is to liquidate a bankrupt business, the evaluation will identify the liquidation value. The market is the court steps.
If the report's function is to produce a inherent tax deduction for a charitable contribution, the evaluation will identify the Fair market Value. The market is most likely a well advertised auction.
As an example, we'll use Madison/Monroe four language ship's paper. If an owner and the assurance company need to know what it will cost to replace the item with a similar piece, an appraiser might research its traditional source, the gallery where it was purchased. The Estimated exchange cost in a mid-to-high-end market is ,500.00. This may be the valid value for this need.
If that same owner filed for bankruptcy and the U.S. Bankruptcy Court Judge ordered the sale of the item, it may bring ,200.00. This may be a valid value for this situation.
If the owner decided to donate it to the National Archives, it might have a value of ,350.00. This may be a valid value for that evaluation "use."
Finally, if the gallery owner was robbed his assurance company would compensate him at his or her cost. This value could be ,750.00. possibly an definite value for this
situation.
As you can see, the same item has four dissimilar values. Each may be definite and approved for the "intended use" and "purpose" of the valuation. There is more to determining value than picking a price. whatever providing values must understand the autograph, manuscript, and historical document market as well as the fancy for request the question; "So, what's it worth?"
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