Intended Uses of Appraisal

Appraisal

Appraisals are prepared for a number of intended uses that mandate specific types of value.

Examples of Intended Uses

• Valuation for scheduling insurance (homeowners and moving)
• Valuation for damage and loss settlement
• Valuation for estate taxes
• Valuation for charitable contribution
• Valuation for estate planning
• Valuation for estate equitable distribution
• Valuation for equitable distribution of marital assets in a divorce
• Valuation for advice in sale of property
• Valuation in liquidation of assets – both orderly and forced liquidation
• Valuation for bankruptcy

The various intended uses for appraisals have correlating types of value, i.e., the type of value in an appraisal for scheduling insurance would be different than the type of value for a charitable contribution.

Examples of Types of Value

• Replacement Value – New
• Replacement Value – Comparable
• Fair market value – charitable contribution
• Fair market value – estate taxes
• Fair market value – equitable distribution of marital assets
• Market Value
• Liquidation Value
• Fair Value (for business assets)
• Salvage Value
• Scrap Value

Appraisals are not necessary in order to sell us merchandise.

We now have a branch of LHFJ called San Diego Gemological Laboratory. SDGL is licensed and equipped to do the formal written appraisals listed above.

It is very important when screening callers who ask if we do appraisals if they want the appraisal for insurance, or in order to sell the item. If they want to sell, then of course we inform them that they do not need an appraisal to sell and can bring the item in to one of our buying locations for a professional evaluation.

If they do need an appraisal for insurance purposes, or any of the purposes listed above, then the customer is referred to SDGL’s phone number to make an appointment to get the appraisal done.