Autograph Values - Identifying the Value of an Autograph - So, What's It Worth?

Archives - Autograph Values - Identifying the Value of an Autograph - So, What's It Worth?

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Perhaps the most generally asked demand I hear is; "So, what's it worth?" The demand may pertain to a four language ship's paper signed by James Madison and James Monroe, a signed photo of movie star and sex sticker Marilyn Monroe, or a hand-written letter by Union general (posthumously promoted) Samuel K. Zook. oftentimes it is an innocent invite for a "ball park figure" on a specific item. As a professional appraiser it is difficult to formulate a easy one-word answer.

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Each item has many dissimilar values. The Madison / Monroe document, for example, will be shown to have at least four dissimilar values -- and each one will be correct. How can that be? It depends upon the market.

You are probably well-known with the term "market." A store is any place or theory for exchanging property in the middle of buyers and sellers. A store can be a sell gallery or a flea market. It can be a bankruptcy liquidation sale or a mail order catalog. The internet and other on-line services are markets for the buying and selling merchandise. The "value" at which the item is sold may be dissimilar in each market. The term "Fair store Value" is a legal definition used in a range of instances. Charitable contribution, dissolution of marriage, or estate tax liability, may be circumstances when fair store value is required. "Fair Market" does not mean "reasonable." The term "fair" comes from old English law, meaning open and free market, as in a "market" or "fair" where goods are bought and sold.

This value may be very dissimilar than sell value. In situations when person is concerned in insuring an item, a sell replacement cost may be most appropriate. It all seems quite confusing, but once you identify the think you want to know "what its worth" then a value can be provided. The "reason one needs to know" is referred to in appraising as the "function" of the appraisal. It is also called the "intended use" or the "assigned use." With a known "use," the proper store can be researched.

Markets range from high-end, high-quality, sell autograph galleries to flea markets and stable sales. various ability and all types of material can be found within any market. An example is the multi-million dollar Dunlap copy of the proclamation of independence reported to have been found behind and old photo at a stable sale.

Here are some examples of situations where the value is dependent upon "use" or "need." The store researched is based on the use and value required.

If the report's function is to obtain assurance coverage, the assessment will identify the estimated replacement cost. The store to research is the gallery where the item was purchased.

If the report's function is to liquidate a bankrupt business, the assessment will identify the liquidation value. The store is the court steps.

If the report's function is to compose a inherent tax deduction for a charitable contribution, the assessment will identify the Fair store Value. The store is most likely a well advertised auction.

As an example, we'll use Madison/Monroe four language ship's paper. If an owner and the assurance business need to know what it will cost to replace the item with a similar piece, an appraiser might research its former source, the gallery where it was purchased. The Estimated replacement cost in a mid-to-high-end store is ,500.00. This may be the valid value for this need.

If that same owner filed for bankruptcy and the U.S. Bankruptcy Court Judge ordered the sale of the item, it may bring ,200.00. This may be a valid value for this situation.

If the owner decided to donate it to the National Archives, it might have a value of ,350.00. This may be a valid value for that assessment "use."

Finally, if the gallery owner was robbed his assurance business would compensate him at his or her cost. This value could be ,750.00. possibly an strict value for this
situation.

As you can see, the same item has four dissimilar values. Each may be strict and proper for the "intended use" and "purpose" of the valuation. There is more to determining value than picking a price. anyone providing values must understand the autograph, manuscript, and historical document store as well as the think for asking the question; "So, what's it worth?"

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