- What is Appraisal?
- Why get my record collection appraised?
- What music items do you appraise?
- What is the process of appraisal?
What is Appraisal?
Appraisal is the authoritative analysis and estimate of the value of property, made by a qualified professional called an “appraiser.” Depending on the purpose for the appraisal, there are different types of value researched, including Fair Market Value, Replacement Value, and Cost Basis.
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Why get my music collection appraised?
Collecting the artifacts of recorded sound — 78s, LPs, 45s, CDs, etc. — used to be regarded just as a hobby. But that view has changed. Nowadays rare records can sell for $20,000, $30,000, and beyond, There is a more professional approach to record collecting, with stricter grading standards for condition, first pressing editions, historical provenance, cultural significance, and other value characteristics.
It is important that archives be appraised as a major asset. This information can be useful in any number of ways:
- Insurance — Scheduling, relocation, and damage/loss claims.
- Investment — Acquisition goals for near-term and future planning.
- Estate planning — Including will preparation and the equitable distribution of assets to heirs.
- Tax purposes — Estate tax, inheritance tax, charitable donation, and collateral loans.
- Property dispersal — Matrimonial dissolution and equitable distribution.
- Cataloging and preservation — Assess scope of issue and needs.
- Disbursement — Sale through retail stores, auctions, set sales, the professional dealer and collector network, and the media.
What music items do you appraise?
- Recorded media: LPs, 45s, EPs, 78s, CDs, cassettes, 8-tracks, reel-to-reel, master tapes, acetates
- Sheet Music, Music Scores, and other performance documents.
- Memorabilia: Posters, flyers, handbills, tickets, promotional toys and gifts, press photographs and kits, artist-owned objects and material.
- Printed media: Magazines, newspapers, books, programs, brochures, catalogs.
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What is the process of appraisal?
- Examination – First, we examine the physical item or items and note condition, edition, and other key points of recognition. We do on-site inspections or, in some circumstances, we can work with detail lists supplied by the client.
- Research – Then we conduct extensive research to ascertain the current market profile of the item or collection, based on recent sales figures, professional consensus, trend analysis, catalogs and guides, and other materials.
- Report – Our appraisal service concludes with a document that details the specific value characteristics of the item or collection, as well as a valuation based on the type of value under consideration. This document exceeds the appraisal requirements of the IRS and insurance companies.