Tuesday, April 20, 2010

TANGIBLE PERSONAL PROPERTY APPRAISALS - SERVICE THROUGHOUT FLORIDA

TANGIBLE PERSONAL PROPERTY APPRAISALS IN FLORIDA

TITUSVILLE, Florida - Each of Florida's counties has a Property Appraiser who establishes the value of your real estate, personal property and business equipment. The Internal Revenue Service says tangible personal property (TPP) includes but is not limited to paintings, watercolors, prints, drawings, sculpture, ceramics, furniture, decorative arts, antiques, textiles, carpets, silver, rare manuscripts, historical memorabilia, antiquities, ethnographic art, collectibles, gems and jewelry. Machinery and equipment and other items classified as personal property are all intended for inclusion.

It is possible that you may be in need of valuation assistance when your county's property appraiser has overestimated the worth of your TPP. Factors such as depreciation and market conditions can cause the value of many items to fluctuate. It is up to you to present a case whereby you can dispute their findings.

From antiques to electronics to farm equipment, taxable items are a great source of revenue for governments. An increasing number of requests for appraisals have come from businesses who report that they are being targeted for the first time. Only by researching and documenting specific information can an appraiser defend your opinions regarding values. The objective is to resolve the issue as early in the examination as possible. Credible and compelling work by the valuator will facilitate resolution of issues without litigation. An added bonus is that once you have won your case before the Value Adjustment Board (VAB) you'll enjoy those tax benefits in subsequent years as well.

The St. Lucie Appraisal Company can appraise your tangible personal property and business equipment. When a licensed appraiser presents his valuation report, it becomes the Property Appraiser's responsibility to refute it with their own appraisal. In my experience, this measure is rarely taken in the face of competent evidence as to the value of your Tangible Personal Property.

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http://stlucieappraisal.net/
AUTO & PERSONAL PROPERTY
SERVICE THROUGHOUT SOUTH FLORIDA

Our service area includes St. Lucie, Martin, Indian River, Brevard, Palm Beach, Broward and Dade Counties. Cities include Fort Pierce, Port St. Lucie, Stuart, Palm City, Jensen Beach, Hobe Sound, Jupiter, Palm Beach Gardens, West Palm Beach, Lake Worth, Boynton Beach, Delray Beach, Boca Raton, Deerfield Beach, Coral Springs, Coconut Creek, Pompano Beach, Tamarac, Sunrise, Lauderhill, Plantation, Fort Lauderdale, Davie, Pembroke Pines, Miramar, Hollywood, Hallandale, Miami, Opa Locka, Hialeah, Coral Gables, Kendall and Homestead.

Diminished Value Appraisals throughout Florida including, Miami, Fort Lauderdale, Tampa, Jacksonville, Daytona Beach, St. Augustine, Lakeland, Panama City, Orlando, Pensacola, Fort Myers, Key West, Sarasota, Port Charlotte, Clearwater, Kissimmee, Melbourne, Daytona Beach, Ocala, Gainesville, Lake City, Sebring, Bradenton, Titusville, Panama City, Bonita Springs, Naples, St. Petersburg and Tallahassee.

Our rates for services are as follows:

Auto Appraisals (Donations, Bankruptcy, Divorce, Insurance Disputes) $125.00

Stated Value Appraisals (Antique & Classic Cars, Street Rods, Motorcycles, RVs, Trucks) $175.00

Auto/Truck/RV Condition Reports $225.00 and Up

Diminished Value Appraisals (Determines how much less your car is worth after accident repairs) $225.00

Personal Property Appraisals (Contents, Collectibles, Art, Antiques) $225.00 and Up

All other services and additional time when necessary  $75/Hr.

Expert Witness - Court Appearances, Depositions, Mediation $225/Hr.

You may obtain appraisals for Financing, Charitable Donation Tax Credits, Collateral, Damage Claims, Equitable Distribution, Bankruptcy, Estates, Insurance Stated Value, Purchase & Sale and Diminished Value.

Appraisals of Personal Property, Art, Boats, Classic & Custom Autos, Antiques, Collectibles & Memorabilia, Electronics, Machinery, Motorcycles & Choppers, Furnishings, RVs, Trucks & Heavy Equipment. Business Valuations specializing in all types of small businesses.

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Keywords for this article: APPRAISER, assistance, FLORIDA, PERSONAL PROPERTY, PROPERTY APPRAISER, st. lucie appraisal, tangible, valuation, Value Adjustment Board

Updated 08/29/2012
Updated 06-20-2013

Saturday, April 17, 2010

APPRAISING COMIC BOOK COLLECTIONS AND ORIGINAL ART


APPRAISING COMIC BOOK COLLECTIONS AND ORIGINAL ART
FORT PIERCE, Florida - Know someone who literally owns a room full of comic books? Then you probably also know someone who hasn't insured his or her room full of comics for anywhere near what they are worth. Think your homeowners or flood policy will cover your loss? Think again. Better yet, call your insurance broker to ask whether your $100,000 collection is safe. Much smarter to be safe than sorry.

The St. Lucie Appraisal Company is sometimes called upon to place values on comic book collections but usually in bankruptcy, divorce, donation, estate or guardianship proceedings. Whereas collectors and sellers of comic books once purchased insurance to protect their assets, that practice is now as rare as the comics themselves.

"Well, what could happen to my comic book collection, realistically speaking?"  My first response might be " a burst water pipe or sewer line" or "theft while you are vacationing" might be another. Here in Florida, comic book collections stored in attics or any room for that matter are subject to hurricanes tossing them in every direction for twenty miles.

If you read comic book-related sites there are always pleas for the public to be on the lookout for comics or original art pages that were stolen. A well-known former editor at Marvel and DC Comics recently suffered a house fire that destroyed thousands of pristine old comics. The comic book collecting community raised awareness of his loss and asked for donations of comics to replace his collection. Don't expect the same consideration after you've suffered the loss of your uninsured collection. Remember, simply having an inventory of your comic book collection won't help if they aren't properly insured.

Of course, there are appraisals and there are appraisals. Placing a value on a few high-end collectible comic books requires different appraisal technique than does evaluating a large collection. The latest batch was sent to me in 125 short boxes. Contained within were nice first issues and complete collections from the 60s to the 90s. Now there were early X-Men in there that are worth thousands but the later stuff wasn't as desirable - much of it in the fifty-cent range. This collector's aim was to insure the entire collection. Her instructions were to provide a general overview and valuation appraisal for her insurance underwriter. She also figured that she'd spring for a more detailed appraisal if either the insuror requested it or there was a discrepancy between what I'd valued the collection at and what they felt it was worth.

As an appraiser catalogs a collection that isn't being evaluated on a book-by-book basis, he formulates a summary of the value of the entire lot that becomes an average value per issue. Had the expensive comics been more prevalent, the estimation of the average price of each book would be higher but as I started encountering the less-desirable books at about 25% of the collection, that estimation started to drop.

Here's the results of the appraisal and the formula I used to obtain the final amount.

Value of Collection: 179 Short Boxes X 150 comics bagged but not boarded 26,850 comic books X $3.00/Each = $80,550.00

Original comic art and high-end comics can't be appraised in the above manner as prices for these, even in this time of recession, continue to skyrocket. From that perspective, having these items appraised makes even more sense.

Whether the comic book collection resides here in Florida or elsewhere in the world, your interests will be well-served by hiring The St. Lucie Appraisal Company to evaluate it. Appraisals for insurance underwriting and claims, donations, guardianship, estate liquidation, divorce, bankruptcy and purchase or sale.


http://stlucieappraisal.net/
AUTO & PERSONAL PROPERTY
SERVICE THROUGHOUT SOUTH FLORIDA

 Personal Property Appraisals nationwide including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington West Virginia and Wisconsin.

You may obtain appraisals for Charitable Donation Tax Credits, Collateral, Damage Claims, Equitable Distribution, Bankruptcy, Estates, Insurance Stated Value, Purchase & Sale and Diminished Value.

Appraisals of Personal Property, Art, Boats, Classic & Custom Autos, Collectibles and Memorabilia, Electronics, Machinery, Motorcycles & Choppers, Furnishings, RVs, Trucks & Heavy Equipment. Business Valuations specializing in all types of small businesses.


 
 
 
The St. Lucie Appraisal Company
P.O. Box 2700
Fort Pierce, FL 34954
Phone: (772) 359-4300
Fax: (772) 466-8400
Email: contact@stlucieappraisal.net


 


Keywords for this article: APPRAISER, bankruptcy, collection, comic book, DC, divorce, donations, estates, FLORIDA, guardianship, insurance, Marvel, Miami, original art, purchase, sale, stolen, theft
Revised 08/29/2012, Revised 01/05/2013, Revised 06-20-2013, Revised 09-11-2013