What to know about appraising antiques during a divorce

On Behalf of | Dec 12, 2023 | Divorce

One of the most challenging aspects of divorce is the issue of fairly dividing assets. Antiques, for example, can hold significant monetary value that is difficult to ascertain.

Understanding how to appraise such items is necessary for equitable distribution.

Research and documentation

The process begins with thoroughly studying each piece. Of relevance are provenance, age and historical significance. Naturally, it is worth having all this data written down for reference. Collecting such information contributes to a more comprehensive appraisal.

Consider market trends

The values of collectibles can fluctuate depending on the demand. Industry insiders expect the global antiques marketplace to continue expanding at a compound annual growth rate of around 4%. Thus, holding onto a particular item could yield additional profit. Staying informed about the variables surrounding certain antiques may also pay dividends. Such information can aid in determining whether the worth of a piece is going to rise or fall.

Consult the experts

Guidance from certified appraisers or specialists is usually helpful. Their in-depth knowledge and unbiased estimates are bound to shed light on the unique qualities of a particular possession.

Condition assessment

Antiques are worth more or less depending on their current status. Refurbishments, for instance, tend to harm their value. Only when evaluations are accurate is it feasible to assure fairness when splitting wealth.

Appraising antiques requires a systematic approach. This is especially true when the items receiving analysis are part of a divorce situation, as the wrong conclusions can lead to further conflict and animosities between former partners.