What the property would actually bring at a liquidation sale.

In Short

What this appraisal is for

A Chapter 7 filing turns on what the property is actually worth, because that figure decides two separate things: what the trustee can sell, and what the exemptions protect. We appraise personal property at liquidation value for the schedules a filing requires, documented well enough that the debtor, counsel, and the trustee all work from the same number.

When You Need One

Who this is for

A bankruptcy schedule states values under penalty of perjury, and a trustee reads it looking for the items worth selling. Clients reach us at these points.

• The property schedules are being prepared, and the personal property has to be listed at a current value.
• An exemption is being claimed, and whether it covers the item depends on what the item is worth.
• The trustee has questioned a value on the schedules, or has asked for a written appraisal.
• The filing includes jewelry, art, antiques, firearms, or a collection that nobody has valued.
• A bankruptcy attorney wants an independent, USPAP-compliant report in the file before the case goes in.

The Report

What the report is used for

The figure a Chapter 7 trustee weighs is liquidation value: what the property brings in a forced sale, from a seller who cannot wait for the right buyer. It sits well below what the item cost at retail, and below the fair market value an estate or a donation would use. A schedule that states the wrong standard is what draws a trustee's attention, in either direction.

Which standard applies to a given item is counsel's call, and a secured claim can be measured differently from the property the trustee is weighing. Tell us at the consultation what your attorney wants applied, and the report states that standard, the effective date, and the research behind every figure.

We appraise for an accurate value and nothing else. An appraiser paid to reach a convenient number is not an independent appraiser, USPAP does not permit it, and a trustee will not accept the result.

• An itemised schedule of the personal property, with a description of each item or lot
• The value of each item, and the total
• The standard of value applied, and the effective date it was applied on
• The comparable sales and market data behind each figure
• The appraiser's certification, qualifications, and signature

How It Works

Four steps, start to signed report

Most assignments are prepared remotely, from photographs and documents. Where an item genuinely has to be seen in person, we say so before you pay rather than issue an opinion we cannot stand behind.

1. You send photographs and an inventory of the items, with any provenance, receipts, or certificates you have
2. We reply with a fixed quote, before any work starts
3. We research comparable sales and market data for each item or asset
4. You receive a signed, USPAP-compliant report you can file

Your Part

What we need from you

• The filing date, which is normally the date the schedules state values as of
• The standard of value counsel wants applied, if they have specified one
• Photographs of each item, with close photographs of every hallmark, stamp, and serial number
• For any vehicle or machine: the VIN or serial number, the mileage or hours, the title, and any lien
• Any value already filed on a schedule, and the date it was stated as of

Send the filing date with your photographs. A schedule states a value as of a date, and a report written to the wrong one does not help you. Photograph every hallmark, signature, stamp, and serial number close up, because those identify a piece and the value follows the identification. If counsel has told you which standard of value to apply, or the trustee has asked for something in particular, send that too and we will write the report to it.

Price

What this costs

Contents are quoted on the per-item schedule, with a $150 minimum. A vehicle, a vessel, or a machine is quoted on the asset schedule, and court use carries the higher floor: from $350 for a vehicle or vessel, from $450 for equipment.

You get a fixed quote before any work starts, and the fee follows the research the assignment takes, not the value we find. If photographs cannot support the value, we say so before you pay — and if the fee would exceed what the property is likely worth, we say that too.

See the full pricing →