Not every appraisal request looks the same. Some people are just curious about a single item, while others need a full report to satisfy a family disagreement. Here are the four most common types of appraisals we handle and the situations behind each one.
1. Individual Item Appraisals
This is often where curiosity leads. Maybe you inherited an item, found something in the attic, or have always wondered about that piece sitting on the mantel. An individual item appraisal helps you find out exactly what it is and what it’s worth.
It is the same kind of work you’d see at an Antique Roadshow-style event; verifying the value of a single piece, often a family heirloom, so you finally have an answer.
2. Probate & Whole Home Appraisals
These appraisals serve a very specific purpose: they’re used by attorneys and courts, typically when someone passes away.
Once the appraisal is complete, the court has a clear understanding of what’s in the estate. From there, items can be distributed to beneficiaries and the family can move forward with next steps including selling what remains.
3. Collection Appraisals
Some people spend a lifetime building a collection; baseball cards, coins, art, you name it. A collection appraisal is often the first step when someone is ready to start selling so they can understand the value of items they have. However sometimes selling isn’t the motivation, clients simply want to know the value of their collection and have an official record of it. This happens especially when a collection has grown too large to keep track of on their own.
4. Dividing of Family Assets
When multiple family members are set to inherit items from an estate, fairness matters. This type of appraisal ensures that what each person receives is equal in value, which can help simplify a difficult process.
This often pairs well with an estate sale down the line; once everyone has taken what they want, the remaining items can be sold. Not sure whether you need an appraisal, an estate sale, or both? Read our breakdown here.
Not Sure Which Type Fits Your Situation?
Whether you’re curious about a single item or need a full report for the court, we’re here to help. Call us at 248-955-3082 or schedule a free consultation and we’ll walk you through the process.
