Charitable donations
Canadians donating art, antiques, or other collectibles worth more than $1,000 to registered charities require written appraisal reports to establish the fair market value of the gifts. Increased accountability requirements and problems with overstated and unsubstantiated valuations have prompted many Canadian charities to ask that appraisals comply with “industry standards.”
Insurance coverage
Insurance coverage appraisal reports are your organization’s evidence of value in the event of a loss and claim. These generally focus on estimating replacement value, which is your cost to replace a stolen, damaged or destroyed item with one of “like kind and quality.” The reports also bear witness that you were in possession of the property and provide an accurate description of it.
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Insurance loss / claim
Appraisal Associates works with many insurance adjusters who process complex and unusual personal property claims involving art, antiques, and decorative art. As a result, we understand the type of information insurance companies want in a claim-related appraisal report. Appraisal Associates can bring this knowledge and experience to your organization’s claim when your insurance company asks for proof of value after a loss and claim.
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Prospective sale or purchase
Appraisal Associates provides clients with appraisal reports to estimate the market value of art or artifacts. Useful for either sales or purchases, these advisory reports address the key characteristics of value of the property in question, as well as a context of comparable sales. Additionally, we can advise clients of the most appropriate sale venues to maximize return.
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