Appraisal for establishing
Did you know that the typical homeowner’s insurance policy will cover firearms lost in a fire or stolen… but only up to about $2500, without a special rider. A single family heirloom such as a colt pistol could blow
that allowance right out of the water.
Just like watching Antique Road Show, it can be fun (and profitable)
to learn more about the history and value of your firearm heirlooms.
At the very least you will be able to establish a proper valuation for insurance purposes.
Appraisal fees will be quoted in advance, based upon the number items and degree of difficulty. Formal insurance appraisals will be documented and delivered to requested specs and priced according to the number of items and degree of difficulty.
Valuations for personal use can be made informally to homeowners based on the needs of their decision making process.
Establishing Market Value
If you are thinking about selling or trading you can make your best
deal when you understand the market value of your specific firearms. Many factors will impact the value such as natural wear, damage, and even whether or not you have the original box and paperwork.
Sometimes even a great specimen may lack local market appeal, but we can get a client a decent price from someone in a different geographic area. IE: Couldn’t generate any interest in a Winchester Model 12 Shotgun in Tucson, but our dealer network in Indiana was glad to get it.
In divorce cases, where there are firearms owned, a professional appraisal is often requested as part of the property settlement.
Estate Settlements & Consignment Sales
If you or someone you know is settling an estate or organizing an estate sale it is very worthwhile to invest in the professional assistance to clarify the market value of the firearms. Many estate sale professionals are highly knowledgeable in the areas of furniture or glassware, but not so much in firearms. Like all major categories, you can benefit a great deal by seeking the insights of an impartial subject matter expert. For example, a collection itself may be worth more than the individual items and sometimes it’s the reverse. It is also fairly common for there to be conflicts of interest regarding the valuation of key items in a sale.
When a gun collection is a large part of an estate, the IRS may require a professional valuation for tax purposes. Same may apply if a collection is being donated to a museum or charity and a tax deduction is taken.
The team at JS Arms has years of experience in valuing, buying and selling all types of firearms and a vast network of resources to leverage in the process.