The actual market value of your item is the value of what you would expect to get if you were to sell your item. It does have some variability, depending upon how and where you want to sell your item. In general market value is taken to be the upper end of the estimated auction value for your item. However, it can be higher in certain circumstances. For example: The market value one might ask for in a classified add could be moderately higher than what they would get at a local auction. Similarly, if you put your item in a high end well advertised auction (i.e. catalogued auction) you would get considerably more than you would from a local farm auction.
Ultimately, when considering antiques and other collectibles, the market value depends upon
the rarity, the desirability, the quality, as well as the condition and originality of your item. Which is to say that just because
an item is old, does not mean that it is particularly valuable. In order for an item to be have a high market value, it
must be desirable, generally in good condition and well made.
When dealing with contemporary items, the market value generally drops to half its regular retail value, as soon as it exits the store. With age, and diminishing condition, this value is further reduced. It must be acknowledged that in general the higher the item's quality, the better it retains its value, hence the higher its market value will be.
The above sometimes does led to the delima that some items may have a higher replacement value and at the same time have a lower market value.
The market value does not include any applicable taxes, and is based upon Canadian values in Canadian dollars.
If you are donating to non-prifit organization, museum or some similar institution, then you can claim the market value of your
donation against your taxable income. We can provide you or the intitute in question with an appropiate appraisal.
The market value does not include any applicable taxes, and is based upon Canadian values in Canadian dollars.
