Appraisal
The team of Appraisers at Alderfer Auction have a unique advantage over most appraisers. Our appraisers are observing the market changes and trends on a daily basis through the ever-changing landscape of the market. Alderfer Auction has built relationships with lawyers, banks, institutions and individuals who need to settle an estate, partnership dissolution, insurance evaluation, equitable distribution or market evaluation.
Appraisals are a formal, written reports and charged an hourly fee. Each appraisal report is written in compliance to the government standards of USPAP (Uniform Standards of Professional Appraisal Practice). Each of our appraisers have gone through vigorous training and have earned designations in their field. Designations include CAI (Certified Auctioneers Institute), MPPA (Master Personal Property Appraiser) and CES (Certified Estate Specialists). Alderfer Auction is also a proud member of many professional organizations including the AAA (Appraisers Association of America- accredited member), the NAA (National Auctioneers Association) and the PAA (Pennsylvania Auctioneers Association).
Appraisals are needed for various reasons. Some are needed by clients and the IRS for estate tax purposes or for a charitable contribution or gift tax. In this case, the value used is a Fair Market Value. Fair Market Value (FMV) is defined as the price at which property would change hands between a willing buyer and a willing seller. For Estate Tax appraisals, the IRS has very specific guidelines on what information they need and who can provide the appraisal. To ensure the needs of our client meet the IRS requirements, all of our reports are USPAP compliant. Others need an appraisal report for Insurance purposes so that their possessions are properly insured. This type of report uses Retail Replacement Value. Retail Replacement Value (RRV) is defined as the amount it would cost to replace an item with one of similar and like quality, purchased in the most appropriate marketplace in a limited amount of time.
For Firearms: The Alderfer Auction Firearm Specialists can provide written appraisals to reflect fair market value for insurance purposes, equitable distribution, and family division reasons.
We offer many Types of Written Appraisal Reports including:
Estate tax or planning
Insurance
Charitable Contribution or Gift
Damage or Loss of Value
Family Division
Equitable Distribution
What you Can Expect:
When you choose Alderfer Auction, you can rely on us to meet your needs in a professional manner. Our appraisal team will provide you with:
Client confidentiality
Respect for your personal property and collections
An unbiased examination of property
Competitive and fair prices for services performed
A professional report that conforms to the Uniform Standards of Professional Appraisal Practice (USPAP)
Excellent customer service and communication throughout the appraisal process
Value is dependent upon rarity, desirability, condition, authenticity, and current market values.
FAQ’s
What is the difference between a valuation and an appraisal?
Valuation is defined as an estimation of something's worth, especially one given by an appraiser while appraisal is defined as an expert estimate of the value of something. These sound like very similar definitions; however, the words are not synonymous. A valuation is generally given verbally and is an estimate of an items fair market value. This is a useful tool for someone who is looking to sell personal property. An appraisal is also an opinion of value however, this information is then presented to a client in a professional, written report that can be relied upon by the client, the IRS and other intended users named in the report. People commonly need written appraisal reports for estate tax reporting, insurance purposes and for tax purposes when a charitable contribution in made.
How do you charge for appraisals?
Alderfer’s rates are competitive and can be hourly, per diem or a flat rate.
What do we appraise?
Residential Contents, Antiques, Fine Art, Firearms, Military, Dolls, Coins, Automobiles, Historical Documents and Autographs, 20th C. Design, Jewelry, Musical Instruments and more.
What we do NOT appraise.
In the event we are not qualified in a specific field, the team of specialists Alderfer Auction is happy to refer you to a trusted professional in that field. In the state of Pennsylvania, the requirements for appraising Real Estate are different from Personal Property. Unfortunately, we are not able to perform this service.
