William M. Novotny ISA AM
Personal Property Appraiser
Decorating and lifestyle trends have changed over the last decade or two and have impacted valuation services. Many homes do not have a dining room to accommodate Grandma’s big, antique, matched dining room set. Modern homes and apartments have large closets which negate the need for large and bulky bedroom sets and armoires. Baby boomers are downsizing and letting the family heirlooms go. Families are smaller, with fewer brothers and sisters among whom to divide possessions. Supply is increasing and demand of decreasing for many object types.
Changing technology makes things obsolete more quickly. Old dinner china with gilt rims or metallic decorations cannot survive the microwave and dishwasher. People have little interest in polishing old silver plate. Modern families aren’t attached to many family heirlooms and often don’t want them. Unfortunately
the stuff that people want to sell is often the same stuff people don't
want to buy. The list of objects that are losing value is long. The
value of many vintage and antique items, once cherished, has fallen
There are many exceptions to the trend of declining market value. There are many Chinese and Russian objects, good mid-century objects, and many rare and very unusual objects in great demand that are appreciating in value. A competent appraiser should be as knowledgeable as typical market participants regarding the relevant market and demand forces for comparable objects
Dear Mr. Novotny, You are as wonderful as I would have surmised from your excellent website. Thank you so much for the long, hot trek to our mountaintop yesterday -- not to mention for your impressive expertise! I learned so much. I felt as though I had a private tutorial in the art of appraising!See the general types of property that Novotny typically can appraise. Contact Novotny for a free consultation to determine if he is a good fit to solve your valuation problem. Find out more about oral appraisals and how to prepare for an oral appraisal. Read on to find out more about the different intended uses of appraisals.
Thank you, as well, for your referral to the Asian arts appraiser. With best regards and again, my gratitude -- Nancy
Assets held in joint tenancy may not be subject to probate or trust administration, but they may still have to be valued for estate tax purposes or to establish a basis for later IRS tax purposes (a step up). The IRS can require an itemized list and valuation of person property.
Personal property often has more than one party with an ownership interest. Frequently value is in dispute and the parties need expert valuation. During the dissolution of marriage personal property marital assets that are community property must be equitably distributed based upon a determination of fair market value. This may require the services of a personal property appraiser when the dispute cannot be resolved between the parties.
Frequently in trust or estate management situations there are multiple beneficiaries of the personal property and the property requires a fair market valuation in order to be distributed equitably.
Part or all of the appraisal process can be conducted without a written report (when a written report is not required for legal purposes). An oral valuation report can be requested by a party or parties with an interest in the value of the subject property. An oral valuation report can substantially reduce appraisal costs. For Novotny to provide an oral report, all parties must agree to retain Novotny, and to be present during Novotny's inspection and valuation.
If the parties accept the stated value then no further appraisal service is needed. If a party contests the stated value, and If a computer is available onsite, Novotny can, if requested, quickly demonstrate the range of published sales of comparable objects. He can also do this, if requested, later at his office and report back to the clients and, as directed, to intended users.
If, on the other hand, a party(s) requires a written report, at increased cost, Novotny will prepare a written report. He creates formally written appraisal reports nearly every day of his life for various intended uses. Written and oral reports must meet USPAP requirements.
Require a Qualified Appraiser and Qualified Appraisal
• Jewelry and antiques
• Furs: real fur garments and garments trimmed with real fur
• Cameras: digital, still, movie, video and equipment
• Musical instruments: professional and non-professional
• Silverware, antique silver and sterling objects and rare decorative art
• Fine Arts: paintings, etchings, bronzes and sculptures
• Manuscripts and books, and antique furniture
• Golfer's equipment: matched sets of golf clubs and clothing
• Sports equipment: fishing gear, archery and hunting gear
• Stamp or coin collections
• Hand tools and power tools owned for business purposes
To find out more about Novotny's Appraisal Services visit his HOME PAGE now.
To find out how Novotny acquired 30+ years of appraisal experience see ABOUT US
To find out more about the types of personal property appraised visit PROPERTY TYPES
If you need a generalist antiques and personal property appraiser CONTACT NOVOTNY