FAQ:

Appraisals vs. Valuations

Valuables Appraisal Service offers both personal property appraisals and valuations. The difference between these two services is their purpose, cost, and the product ultimately delivered to the client. In short, an appraisal is a certified report that involves comprehensive documentation, research, and analysis suitable for legal purposes, whereas a valuation is a more informal process that simply identifies an item and the amount it currently sells for (i.e. its fair market value).

This page describes the key differences between each service based on frequently asked questions to help you understand which one is right for you.

Contents:

What is delivered to the client?
What purposes is the service suitable for?
How is the service conducted?
How much does the service cost?

What is delivered to the client?

Appraisal	Valuation
Certified report with appraiser credentials that includes: Description of each item Monetary value of each item based on the required valuation method Sum value of all items in the appraisal Description of the research, analysis, and valuation methods utilized	Simple 1-2 page document that includes: Identification and brief description of one item Current fair market value of the item

What purposes is the service suitable for?

Appraisal	Valuation
USPAP-compliant and meets qualification criteria for submission to the IRS, the courts, insurance firms for official purposes including estate tax, gift tax, equitable distribution, insurance coverage/claims, and more	Budget-friendly way to understand more about an item and its value when you are preparing to sell, determining auction viability, or simply curious

How is the service conducted?

Appraisal	Valuation
Appraisals can be conducted through on-site or virtual assessments. In both instances, the final report is emailed as a PDF to clients. On-site appraisals: We will travel to your house or location of personal property to assess and photograph your items, discuss a timeline and cost estimate, and sign a service contract. Virtual appraisals: Clients submit an online appraisal request form to share photos and information about their item(s) to ensure we have the proper materials before beginning our research. Once we have the materials we need from the client, we will email an estimated cost and timeline as well as a service contract. Appraisals require more detailed research and analysis than valuations, so it's important that clients provide the most accurate and comprehensive photos and information possible.	Valuations are only conducted virtually. Clients can immediately book and pay for a virtual valuation through our online submission form by uploading photographs and information about their item. The final valuation report is emailed as a PDF. Each valuation covers one item. To receive a valuation for multiple items, clients can submit multiple online submission forms. If you have a large quantity of items making it difficult to submit multiple forms, please contact us to discuss alternative ways of sharing photos and information.

Appraisal

Valuation

Appraisals can be conducted through on-site or virtual assessments. In both instances, the final report is emailed as a PDF to clients.

On-site appraisals: We will travel to your house or location of personal property to assess and photograph your items, discuss a timeline and cost estimate, and sign a service contract.
Virtual appraisals: Clients submit an online appraisal request form to share photos and information about their item(s) to ensure we have the proper materials before beginning our research. Once we have the materials we need from the client, we will email an estimated cost and timeline as well as a service contract.

Appraisals require more detailed research and analysis than valuations, so it's important that clients provide the most accurate and comprehensive photos and information possible.

Valuations are only conducted virtually. Clients can immediately book and pay for a virtual valuation through our online submission form by uploading photographs and information about their item. The final valuation report is emailed as a PDF.

Each valuation covers one item. To receive a valuation for multiple items, clients can submit multiple online submission forms. If you have a large quantity of items making it difficult to submit multiple forms, please contact us to discuss alternative ways of sharing photos and information.

We recommend reviewing our Virtual Submission Guide before requesting a virtual appraisal or booking a virtual valuation to ensure you submit the highest quality photos and proper information.

How much does the service cost?

Appraisal	Valuation
Our appraisal service is charged at an hourly rate. The cost of an appraisal will vary depending on the time it takes to assess and photograph the items, conduct the research, and write the report. It can be difficult to provide an estimate without knowing the quantity and types of items to be appraised, so we recommend clients reach out to share more about their items and circumstances in order to receive an accurate estimate.	Our virtual valuations are $40/item. If you have a large quantity of items, please contact us to discuss pricing.

Appraisal

Valuation

Our appraisal service is charged at an hourly rate. The cost of an appraisal will vary depending on the time it takes to assess and photograph the items, conduct the research, and write the report. It can be difficult to provide an estimate without knowing the quantity and types of items to be appraised, so we recommend clients reach out to share more about their items and circumstances in order to receive an accurate estimate.

Our virtual valuations are $40/item. If you have a large quantity of items, please contact us to discuss pricing.

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