Whether you are a collector of pianos, comic books, stamps, or coins, it is of the utmost importance for you to take the time and have your collection appraised by a professional. Appraisals are not only used for insurance purposes, they are also essential in estate planning. At some point, these coveted collectibles will be passed on, and you need to have a finite plan outlining how the items will be distributed—and to whom.
How do you find a reputable appraisal attorney? There are several ways this can be accomplished. Here’s a list of the 5 best strategies to get your collection appraised:
- Perform a simple search using the keywords “antiques,” “collectibles,” “appraisers,” or “auction houses” on the web or in the yellow pages.
- Use one of the many appraisal directories as a reference, and contact some of the groups listed for suggestions about appraisers in your area. Some of these include:
- Go to any local businesses that carry your collectible, historical societies, museums, et cetera and ask a professional for their recommendations.
- After narrowing your search by type of collectible, look for reviews about the appraisers you are considering and check with the Better Business Bureau (BBB) to see if there have been any complaints about the appraisers methods, business practices, or ethics.
- To start, have only a couple of your most valued collectibles appraised by a few different appraisers to see if their determined valuation of the items is somewhat the same. If you have an appraiser that provides a valuation of your collectible that is drastically lower than the other appraisers who have evaluated the item, then chances are the appraiser is not reputable.
Once you have your collection valued by a professional appraiser you need to contact an attorney. The Erskine Company, has significant experience drawing up estate plans that include notable collections and as a result has ensured the legacy of innumerable families. Contact The Erskine Company to begin securing your legacy today.