Many people are always curious what something they own is worth, especially things they inherited. Well, the answer to this is more involved than you’d expect. For a quick answer I’ll tell you that there are different “levels of value.” Think about it…there’s “replacement cost,” which is what it would cost to replace the item. This is basically the retail value and you would use this for insurance coverage. Then there is the “fair market value,” which is the price someone would pay for the item if you were to sell it. This is almost a “wholesale” value since no one would likely pay you retail for something you’re selling. They want a “deal.” It gets even more complicated when you discuss the circumstances of the sale, but that’s something you’d need an appraiser for. One way for you to get an idea of an items value is to look on eBay for a comparable item that has sold. Don’t look at the asking price, look for the price of sold items only. This is the fair market value.
We are able to offer value consultations or a full appraisal if you desire. Contact us to discuss your needs.