4 Reasons for Fur Coat Appraisal

Your fur coat isn’t just a fashionable possession. It’s an investment and your estate. When you spend a fortune buying a fur coat, you must get its worth evaluated. Though it might seem unimportant, getting your fur coat appraised by an expert furrier is a necessity.

Similar to the car and home insurance a treasured piece of fur clothing demands protection too. And for that, you must appraise the most accurate value of your fur. Spend a nominal amount to evaluate your fur coat and you’ve to worry no more.

There are four most relevant reasons to get a fur coat appraisal done:

Insurance

This is the most crucial reason. Do you remember appraising the value of your home and car to determine the insurance coverage? Your fur coat deserves to get insured too. We understand that it’s terrifying to even contemplate an accident or theft of a dearly held fur coat. But, we suggest fur insurance as a must because you never know what life has in store tomorrow. Instead of under-insuring your precious fur possession, get a fur coat appraisal done for giving it the most accurate coverage. Remember, your insurance company may refuse to reimburse the value in the absence of an appraisal document.

Reselling

So, your fur coat looks old-fashioned now. Or maybe, you realize that the style doesn’t suit you anymore. The best thing to do under these circumstances is to sell off your old fur apparel. And a fur coat appraisal will save you the hassle of haggling for a good deal. Of course, you won’t get the price you’d spent on buying a fresh fur coat. But knowing the real value of your fur will get you a genuine price without buyers trying to negotiate on it.

Estate Planning

Inheriting fur coat is quite common. It’s as timeless as a large diamond ring, as exquisite as an ancient Egyptian jewelry, and as valuable as your house estate. The fur coat, when decently cared for, will retain its sheen and softness for many years. Hence, they are handed down for generations. Appraising the value of the fur coat will let the ones inheriting it know about the real worth of their inheritance.

Charitable Donations

A lot of people decide to donate their old fur after they have purchased a new one. Contact your nearest thrift shop to make sure that they accept such donations. It gets easier to donate a fur coat or jacket if you’re carrying a fur appraisal document with you. And the donation receipt from the thrift store will earn you a significant tax deduction as well.

Types of Appraisal

There are two types of appraisals:

Replacement Value: This appraisal is mostly done for insurance. The appraiser assesses the cost of replacing the old fur coat with the new. This replacement value is equivalent to the insurance coverage value.

Cash Value: This is based on the real cash value of the coat and replicates the amount one could expect from reselling.