Our services include appraisals for: Insurance Estate Taxation Non-Cash Charitable Contributions Capital Gains Taxation Inheritance Taxation Equitable Distribution Family Division Divorce Bankruptcy Liquidation and Sale Discretion and confidentiality are assured. All information provided is treated as highly confidential and all records of appraisal work are locked in a secure area under strict control. Carter Appraisal Associates, Inc., adheres to the highest ethical and professional standards of the industry, and operates in full accordance with the code of ethics and professional conduct of the Appraisers Association of America (AAA), and the Uniform Standards of Professional Appraisal Practice (USPAP).  IRS Regulations Governing Appraisals The Pension Protection Act of 2006 (PPA 2006), Sec. 170(f)(11) creates new guidelines and penalties for appraisals and appraisers. A qualified appraisal is defined as one that meets "generally accepted appraisal standards" and follows the principles of Uniform Standards of Professional Appraisal Practice (USPAP). The appraiser must have experience and competency in evaluating the type of property, verifiable education and experience; regularly perform appraisals professionally; not been prohibited from practicing before the Internal Revenue Service; and declare that he or she understands a substantial or gross valuation misstatement could lead to civil penalty.   Inventory Written Appraisals take the form of an inventory detailing the items appraised.  This document provides the information to assist in identifying and assessing the value of part or all of the household contents or collection. Descriptions can include dimensions, weight, date, and maker, together with the relevant value. Carter Appraisal Associates, Inc., will also photograph the items as necessary and the photographs will be stored both electronically and physically with the inventory. Value Assessment For the purposes of Estate, IRS/Charitable Donations, Fair Market Value is used to determine the price the item/s would achieve if sold at auction on the open market. For purposes of Insurance, and Damage/Loss, Retail Replacement Value is used, which presumes that an item would be replaced at a retail establishment such as a quality antiques shop, taking into account the dealer profit margin, or for contemporary items, the recommended retail price at a leading retailer. In cases such as Family Division, where tangible property may be exchanged for cash or other financial products, Marketable Cash Value is used, and reflects the value realized, net of expenses, when items are sold on the open market. Our specialists cover all sectors of the fine art, antiques, and collectibles markets, and keep fully up to date with market developments in their specialist areas.  Our database of past sales results gives us a unique and invaluable source of research data, ensuring that clients benefit from the most current price information available.