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Richard C. Frey Appraisers provides professional appraisal services for all personal property, fine art and antiques. There are many reasons why you would want to obtain a professional appraisal by a qualified appraiser on your personal property. Knowing the value of your personal property is of great importance to avoid risk. We can appraise your personal property and determine a value from which you can base your financial decisions and manage risk. Risks may include:

• Selling an item for less than it is worth

• Paying too much for an item
  

• Being over insured

• Being under insured

• Not getting the appropriate share in a division of property

• Being audited when claiming tax deductions for charitable contributions

• Tax penalties for estate tax calculation errors

A personal property appraisal may be required to determine:

• Adequate insurance coverage for theft or fire

• Capital gains tax liability on the sale of property

• Federal estate tax liability

• Federal gift tax liability

• Federal income tax deduction for charitable contribution

• Equitable distribution of property in divorce or between claimants

• Damage claims losses

• Various costs for use in accounting purposes

• Value for use in the anticipated purchase or sale of property