1. FIRST STEP – ASK YOURSELF: Do I need an Appraisal or an Evaluation?
An evaluation is a way to determine the potential fair-market value of your records or memorabilia. An evaluation is perfect if you want to sell your material or just understand its potential in the marketplace. You’ll be able to tell whether you have something worth $1.00, $10.00, $100.00, or more. This valuation research process is the same as a formal appraisal, but does not result in the writing of a legally-defensible appraisal document. Please contact me for more information.
An appraisal is needed when you have a legal purpose such as for insurance coverage, tax or estate issues, and donations. It is a legal document accepted and needed by the IRS and the court system.
2. SECOND STEP – PUT A LIST TOGETHER. Whether you insure, donate, or sell, a list telling people what you have will be invaluable to you.
For me, all I need from you are these four pieces of information:
- Band or Artist’s name (Last name, first name)
- Title of the Album: (or Song Title if it’s a 45 or 78)
- Record Company Name
- Catalog Number: Found on corner of front cover and /or on the spine, and on the record label.