Appraisals may be needed for the following purposes.
Insurance appraisals.
It is extremely important that you have a book appraisal for insurance purposes.
In the event of fire, smoke, or water related incidents, books are easily damaged. In most cases your insurance company will cover only a fraction of the actual replacement cost of your book collection. It may be necessary to have a rider attached to your insurance policy along with an appraisal of the books in order to fully cover your library. Insurance appraisals are usually based upon "replacement value" of the books, which is the estimated actual retail cost to purchase the titles to be replaced. If in doubt, contact your insurance company to find out what they will and will not cover in the event of a claim, and what is the dollar figure cutoff point where they require an appraisal.
Once your books are damaged it may be too late to insure them. Protect your valuable investment. Have your collection appraised before they are damaged.
(Note: If you have already sustained damage to your books your insurance company may still reimburse you if you have an appraisal performed based on a list of the books lost. Check with your agent about this).
Please call or email for further information. 520-203-3019
Probate
Book appraisals are often done to satisfy estate taxes. These appraisals are based upon "fair market value", which is generally less than replacement value.
Income tax reduction
If you have a number of books around your home or office that you no longer want, you can have them appraised, and donate them to an institution or library and reduce your income tax. (see next page on this site). In the case of books of lesser value you may donate them to a thrift shop run by a charitable organization and still take a tax credit. Thrift stores will usually accept donations, whereas some university and public libraries may not. For further information see "donations/tax credit" page.
Divorce
In the case of a divorce settlement, is the spouse representing the true value of his/her book collection? Possibly not. You need an appraisal to be certain.
Purchase or sale
Are you thinking about purchasing or selling a book or collection of books. A mortgage company wouldn't lend money on a house without an appraisal. If you are contemplating a purchase doesn't it make sense to know what the book(s) are worth. If you are selling a collection or a single book wouldn't it help to have a professional appraisal to back up your asking price? If you ask too much for your books you may not find an interested buyer. If you sell your books for too little it will cost you money. An appraisal could be useful in either situation. Feel free to contact me by email or phone.
Send email to: [email protected]
520-203-3019