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

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Perhaps the most commonly asked request I hear is; "So, what's it worth?" The request may pertain to a four language ship's paper signed by James Madison and James Monroe, a signed photo of movie star and sex emblem Marilyn Monroe, or a hand-written letter by Union normal (posthumously promoted) Samuel K. Zook. frequently it is an innocent invite for a "ball park figure" on a definite 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 familiar with the term "market." A shop is any place or principles for exchanging asset in the middle of buyers and sellers. A shop 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 shop Value" is a legal definition used in a variety of instances. Charitable contribution, dissolution of marriage, or estate tax liability, may be circumstances when fair shop 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 man is concerned in insuring an item, a sell change 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 accepted shop can be researched.

Markets range from high-end, high-quality, sell autograph galleries to flea markets and stable sales. assorted potential and all types of material can be found within any market. An example is the multi-million dollar Dunlap copy of the declaration 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 shop researched is based on the use and value required.

If the report's function is to obtain guarnatee coverage, the estimation will identify the estimated change cost. The shop to investigate is the gallery where the item was purchased.

If the report's function is to liquidate a bankrupt business, the estimation will identify the liquidation value. The shop is the courthouse steps.

If the report's function is to produce a possible tax deduction for a charitable contribution, the estimation will identify the Fair shop Value. The shop 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 guarnatee firm need to know what it will cost to replace the item with a similar piece, an appraiser might investigate its original source, the gallery where it was purchased. The Estimated change cost in a mid-to-high-end shop 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 estimation "use."

Finally, if the gallery owner was robbed his guarnatee firm would compensate him at his or her cost. This value could be ,750.00. perhaps an correct value for this
situation.

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

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