Appraisal Witness: Qualified Expert

Appraisal Witness: Qualified Expert

Appraisal Methodology

An appraisal witness will provide appraisal methology, documentation, and conform to USPAP guidelines. Photographs and evaluation of condition of the personal property, equipment, machinery or vehicles should accompany all appraisals.

Below are the three types of appraisals that can be carried out by the expert appraisal witnesses at Durkin Valuations. Durkin Valuation Associates have numerous appraisers from 30 years experience appraising and we are willing to testify as expert witnesses anywhere in the world. Telephone (617) 720-0332

FAIR MARKET VALUE:
A price agreed on by both a Buyer and Seller, neither being under any obligation, to complete a sale.

Fair Market Value is used for Inheritance Tax, Estate Planning, Marital and Business Division, and Charitable Contributions.

REPLACEMENT VALUE:
The cost to replace property with something of similar origin, condition, provenance, quality and age.

Replacement value is used for Insurance purposes, and is attached to your policy, as a Fine Arts Rider.

LIQUIDATION VALUE:
A monetary value given to property that is sold or exchanges hands under a forced or limiting conditions, such as bankruptcy.

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