posted on December 26, 2000 05:16:20 PM new
A doubtful use of time and money.
Why? From the site itself:
An Eppraisal is not the same as an appraisal. An appraisal is an extensive and binding in-person evaluation of an object. Such a document conforms to the Appraisal Standards Board's Uniform Standards of Professional Appraisal Practice (USPAP), and is valid for gift taxes, divorce claims, estates taxes and other legal purposes.
So an "eppraisal" is NOT valid for "gift taxes, divorce claims and other legal purposes".
Okay, so you just want to know what you're item's worth so you can sell it, right? Unfortunately....an "eppraisal" is
based entirely on the digital photographs and written description provided by the client.
IOW, if the pix don't show flaws or the client gives an inaccurate description, the valuation's worthless.
But wait!
If you are thinking of donating your item, the IRS will accept an Eppraisal for any item that is valued with a replacement value of less than $5000.
Although the last time I checked, the IRS will also accept a receipt from the organization (such as Goodwill) to which you donated that valuable widget, this is the only possible value I can see in this "service," and then only if you are truly and utterly clueless about what it is.
posted on December 26, 2000 05:25:19 PM new
I beg to differ...
eppraisals was recommended to me by someone who had used their service and was highly pleased with the result of the appraisal.
Obviously all results must be taken with a grain of salt because the appraiser hasn't physically handled the object, since the appraisal is over the Internet. That's the reason for all the disclaimers I would think.
however, if you have something you just don't know how to identify, or something out of your usual area of expertise, it could be useful tool or guide.
