appraisal services
We appraise personal property (antiques, porcelain, silver, fine art and collectibles) for private collectors, attorneys, administrators, fiduciaries, accountants, and insurance professionals. The appraisal assignments we handle include those needed for insurance coverage, estate planning, equitable distribution, estate tax filing, and charitable donations.
Services include onsite examination, in-depth market research, objective and unbiased market analysis, and detailed, substantiated reports explaining and supporting the valuation conclusion. Our appraisals comply with the Uniform Standard of Professional Appraisal Practice (USPAP) and adhere to IRS guidelines.
Our appraisal fees are based on an hourly basis - they are never contingent on the value of the subject property. There is a three-hour minimum for insurance appraisals and a four-hour minimum for tax-related appraisals. A written estimate and work agreement are provided in advance.
insurance coverage
Document and appraise your personal property to ensure that you are protected with adequate insurance coverage before a damage/loss claim. As an independent opinion of value an insurance coverage appraisal helps establish coverage levels and premiums. It is advised to updated appraisals every three to five years to maintain adequate coverage.
ART AS COLLATERAL
For clients using their personal property to facilitate a loan Black Oak will prepare a Fair Market Value or Marketable Cash Value appraisal.
ESTATE PLANNING/EQUITABLE DISTRIBUTION
Knowing the value of your personal property is vital to the estate planning process. Using the Fair Market Valuation, the appraisal document aids in decision making as it pertains to equitable division of estate property among heirs and beneficiaries.
DIVISION OF PROPERTY
Like Equitable Distribution Appraisals, the Division of Property appraisal is based on Fair Market Value. These appraisals are often used for distributing property in divorce settlements.
ESTATE TAX FILINGS
Both the IRS and New York state require a USPAP compliant appraisal if the total value of an estate crosses a certain value threshold. These appraisals use a Fair Market Value to provide a comprehensive valuation of the decedent’s personal property. All of our appraisals adhere to the IRS guidelines and are USPAP compliant.
CHARITABLE DONATION
A donor wishing to claim a charitable deduction of $5,000 or more for donating an item or group of similar items to a non-profit must obtain a qualified appraisal of the items’ value. All of our appraisals adhere to the IRS guidelines and are USPAP compliant.
Estate Sale Services
Black Oak liquidates the contents of a home on behalf of clients who are handling the estate of a loved one or a preparing to move themselves. We have relationships with a range of buyers looking for everything from fine art to collectibles such as coins and comic books.
Services include an in-home consultation to discuss your goals, the items you are interested in selling, and your timeline. We research and appropriately price items; organize and stage the home for the sale; and get motivated buyers through the door with the goal of finding new homes for everything in the home. Following an estate sale we can manage donation services, removal services, and cleaning services to make sure the home is ready for a walk through if a real estate closing is scheduled for the near future. We connect clients with trusted attorneys, real estate professionals, moving companies, and cleaners upon request.
