Midwest Auction Inc. offers a full range of appraisal services focused on your specific needs:
- Estate and Probate – Working with attorneys, trustees or accountants we will meet your needs and timelines following USPAP guidelines. General household appraisals are efficiently prepared to meet legal and IRS deadlines.
- Family Estate Planning, Gifting or Division of Property – Reports to assist you in setting up trusts and personal wishes.
- Insurance Purposes – Loss or Damage Reports provided.
- Charitable Contributions/Donations – IRS requirements are followed.
- Personal Information Purposes for Collectors – Receipts and inventory lists do not often reflect current market value. We can assign appropriate and updated values to your objects of art and antiques.
Our team has expertise in Fine Art, Antiques, Decorative Arts, Jewelry, Asian Art and Modern & Contemporary Art and Furniture. Midwest Auction is well positioned to offer accurate appraisals on a wide variety of personal property. When appropriate, we also deliver comparables that are required in the case of Charitable Contributions, Gifts and large Estates.
We follow the Uniform Standards of Professional Appraisal Practices when preparing your appraisal based on thorough research and client requirements. Completed reports are delivered bound with photos. We charge strictly for time and incurred expenses for our appraisals, not based upon the value of the property appraised.
Types of Appraisals
Estate Appraisals/Fair Market Valuations – We provide efficient and timely reporting based on mutually agreed requirements. We work with attorneys, estate administrators, accountants, bank trust officers and other fiduciaries in the process of providing the reports needed as part of final estate filings meeting Federal and State requirements.
Trusts, Estate Planning, Gifting or Divorce – Appraisals are a vital part of the planning that goes into the development of effective trusts and other estate planning tools. In many cases, making bequests or donations of valuable personal property such as fine art or furniture can be easily facilitated if there is a recently conducted appraisal of the items under consideration.
Insurance – We offer replacement cost valuations suitable for insurance requirements. Our specialist has experience working with several large insurance companies. We also offer updates to appraisals previously done by Midwest Auction.
Collections – Receipts and inventory lists often do not reflect current market value. Working with your inventory, we can assign appropriate and updated value to your objects of art at market prices. You then are able to update insurance values, if you so choose.
Fees – Our fees are competitive and based on an hourly or daily rate for the appraiser and any additional expenses incurred. We will be pleased to quote costs and fees after discussing the scope, purpose and requirements of the proposed appraisal with you.
If property is subsequently consigned to Midwest Auction within one year of an appraisal, a portion of the seller’s fee may be rebated upon sale at auction or be reflected in commission scale.
Please contact us at 248-236-8100.