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or stolen. This assumes that you will pay a full retail price to replace
WHAT’S IT WORTH ANTIQUES MINUTE the lost item, quickly, to purchase something comparable, and with

the least amount of inconvenience to you. This represents a high retail
BY: Mike Ivankovich value and is what you would insure something for with your Insurance

Company.
What Type of Value Are You Seeking? • Fair Market Value: What is a “Reasonable Value” that an item

Have you ever seen the jewelry store commercial that states “We might change hands for, between a willing buyer and a willing seller,
neither being under any compulsion to buy or to sell, and both having
guarantee that the diamond ring we sell you will appraise at double the reasonable knowledge of relevant facts. This is typically used in Death &
price we charge you"? Inheritance Tax, Divorce, and Non-Cash Charitable Donation situations.
Well, appraisal numbers can be twisted to say pretty much anything you Note that value here is not the “highest price”, but a
want. In this case they’re usually offering “Insurance “reasonable price”
Replacement Cost Value” as the appraised value which, • Liquidation Value: What is a best estimate that
by definition, is higher than the “Retail” value they VALUE? something could be sold for … quickly.
charged you. And the “Retail” value they charged you Highest Price … Reasonable Price … Quick Sale Price
is almost always higher than the “Liquidation” resale Three different appraisal definitions, each representing
value that you might sell something for. a different appraisal purpose and situation.
And herein lies the #1 problem with appraisal WHAT’S IT WORTH: A major mistake people often make is their failure
numbers. There are many different types of "value", all mean something to understand what their appraised value actually means. I’ve seen it
different, and most people don’t understand the difference. happen numerous times, and quite often with jewelry. For example,
• Market Value vs Fair Market Value someone has a diamond ring appraised for Insurance Replacement Cost
• Retail Value vs. Wholesale Value purposes at $10,000. And then they consign it to Auction, expecting close
• Insurance Replacement Cost Value vs. Liquidation Value to $10,000. And when it sells for only $800 at Auction, there is a tendency
• eBay Value vs. Auction Value to blame either the Auctioneer, or the Appraiser, rather than accepting
• Book Value vs. vs. Theoretical Value responsibility for their failure to understand what their appraised value

The three most common appraisal values I’m requested to provide actually meant.
as an appraiser are “Insurance Replacement Cost”, “Fair Market Value”, Mike Ivankovich is an Auctioneer, Appraiser, Home Downsizing Expert, and host of the "What's It Worth?
and “Liquidation Value”. In the very simplest of terms, these could be Ask Mike the Appraiser" Radio Show. “What’s It Worth” airs live Friday mornings from 9:30-10:30 AM EST on
described as follows: WBCB 1490 AM, and on the Internet at: www.WBCB1490.com. You can also visit his Radio Show Web Site:
www.AskMikeTheAppraiser.com If your local station doesn’t carry “What’s It Worth” tell them they need to
• Insurance Replacement Cost Value: What is the “Highest Price” it add it to their programing mix. If you know anyone who needs any Personal Property Appraisal work, or if you
would cost to replace something that was lost, damaged, destroyed, need a Speaker for an upcoming meeting or event, call Mike at 215-264-4304, or visit
www.michaelivankovichMEETINGSPEAKER.com
WILDWOOD • EUSTIS • MOUNT DORA

3Rd geneRation antiques RenningeR’s
301 121 N Bay St. Eustis Hwy 441, Mt. Dora
75 UMATILLA
352-483-4367 19 352-383-8393
1 441
Lake EUSTIS
WILDWOOD Eustis 5 44
44 B S
441
LEESBURG TAVARES MOUNT
Lake Harris DORA
48 6 441
301 27 HOWEY
75 IN THE HILLS
19
33
Lake Apopka
301 19 27
50
Mascotte
50

www.villageantiquemall.com
FINE ANTIQUES & COLLECTIBLES

OPEN 7 Days a Week

Specializing in Antique Clocks 3107 SR 44, Wildwood, FL
SALES • SERVICE 352-748-6255 Mon-Sat 9:30-5:30, Sun 12-5
I-75 Exit 329, then go 3 mile east, Just across from Russell Stover
Grandfather Clock House Calls Mount Dora’s Largest Antique Mall Over 100
Fine Watch Repair 12,000 sq.ft. with over 40 dealers Vendors
Visit our Large Showroom
1107 S. Bay Street 405 N. Highland Street
Eustis, FL 32726 Mount Dora, FL 32757 30,000
Sq.Ft.
(352) 357-9150 352.385.0257
Collectibles and an eclectic variety of vintage decor for indoor & outdoors 1
Helen Cipollone-Carden Owner/Clockmaker 6 Victorian, Primitive & Vintage Furniture, Art, Glass, Pottery, China, Books, Toys,
Howard Miller Sales & Service Center 5