Leonard Joel recently established a dedicated Valuations Department, providing specialist and tailored solutions for all written valuations. Our dedicated and centralised service for expert written opinion in the matters of Market, Probate, Insurance, Matrimonial, Superannuation and Cultural Gifts will further enhance our status as auction leaders and valuation professionals.
Valuing is the core of our business and with the broadest range of category specialist areas in any auction house in Australia, we are equipped to be experts in all classes of valuations. Speak to the professionals who know how to value and handle more items than any other auction house. On site, in situ or at our premises we have the flexibility to value your items and provide expert service and advice.
From 4 October 2017, we will host monthly Valuation Evenings at our Melbourne premises. Join us, from 5pm-8pm, for a complimentary valuation and advice on buying and selling at auction.
Estates are an integral part of this department ensuring multi-category items are managed collectively, making the valuation and auction process a seamless experience. Offering a central point of contact for fiduciaries, executors and benefactors to have a professional team oversee the sale of your estate. We can assist with the entire process from start to finish including probate or family division valuation, broom clean service, white glove service to complete dispersal of contents.
Leonard Joel works with accountants, lawyers, trust companies, insurance companies and financial planners. We have on-going relationships with many firms to ensure the valuation and auction experience is a professional one. The Valuations Department will oversee these associations and offer direct expert service.
TYPES OF VALUATIONS
The most important part of the valuation process is establishing what type of valuation is required. Whether it is advice on estate planning or appraising a large corporate collection for insurance, Leonard Joel can assist you with understanding your requirements. The following types of valuations can be performed.
MARKET – The value of an item when selling on an open secondary market. It is based on our professional opinion of what the item may reasonably expect to realise at public auction.
INSURANCE – The full cost, including GST, to either replace an item in the condition as sighted with a similar item or the cost to have that item manufactured or remade in the current retail market.
PROBATE – The value of an item which can be realistically achieved on a second hand market. It is used and required for deceased estates so that probate may be granted.
FAMILY DIVISION – To value an item for the purpose of establishing a fair market price on an open secondary market. This type of valuation is used in estate planning.
MATRIMONIAL – The value required by the courts for the purpose of matrimonial settlement. This is a market value allowing for appropriate marketing and without time restraints of what is fair and reasonable in a second hand market if a price needed to be realised.
LOSS ASSESSMENT– The value of an item after it has been lost. The item is appraised from either photograph or a previous valuation and is the retail replacement value.
SUPERANNUATION – This valuation is for the purpose of giving value of what the item may reasonably expect to realise at auction.
CULTURAL GIFTS – This valuation is for the purpose of gifting an item to an institution. We are currently able to assist with art work for the Cultural Gifts Program for the Australian Government.
Why do I need a written valuation?
Written valuations are an accurate inventory of your possessions. Supplied with photographs they are legal documents that provide you with an expert opinion of what your item is worth in the particular context it has been valued.
How do I know what type of valuation do I need?
Establishing what type of valuation you need and for the purpose required is fundamental to the valuing process. Leonard Joel can assist you with understanding your requirements. Please contact us to discuss your requirements.
What is involved in having my items valued?
Items can be valued in situ, in a location convenient to you or at our premises. We appraise items with technical equipment and current market research pertaining to the particular type of valuation required. Items can be left at our premises and are securely stored whilst being valued. The written report is issued within ten working days.
Do I need an insurance valuation?
In the unfortunate event of loss and needing to make a claim, a valuation acts as a safeguard providing you with accurate information about the specific details of all the components making up each item. It is accompanied by a photograph to ensure all aspects are covered. Values do change and can do so quite considerably over a relatively short period of time. Being under insured is a common problem we hear of continually because clients believed their pieces were covered under their general contents insurance. Many insurance companies require a written valuation for items over $1,000. Just because you bought it at auction for a bargain does not mean it is not worth insuring. Ask yourself the question: You bought it at auction, do you need to insure it?