I was recently watching Antiques Road Show and saw a woman's ugly, beat-up swan turn out to be worth $40,000! It blew my mind (and hers) yet that is exactly what can happen when personal property is not properly cared for, valued, and insured. As a financial planner and tenured corporate trustee myself, I completely understand how important the act of personal property appraising is. People are highly attached to their stuff, but unfortunately in the eyes of an insurance company, valuable stuff is worthless unless it is identified and named on an insurance policy. People are surprised to know that a vast majority of homeowners' policies are written with a small cap on how much can be paid to the insured if heirlooms or collectibles are lost or damaged.
I never want to move away from the concept that less is more when it comes to minimalist living, however, when valuable personal property comes into play oftentimes a person was given a family heirloom or diversified his or her investment portfolio with collectibles and antiques. There is a lot of value to inheriting valuable items and using real property to diversify a portfolio is most certainly an accepted industry standard. This type of stuff is a far cry from chasing the latest clothing trends at Macy's.
I recently spoke with Morgan at Bryson Estates who discussed with me the importance of informing consumers of the value of the objects they live with everyday.
At the intersection of art and economics, Bryson is a personal property appraisal and fine art collection management firm. Empowering clients with the tools and expertise necessary to guide critical decisions and create innovative asset management strategies, Bryson seamlessly navigates complex transactions involving artwork, artifacts, collectibles and other one-of-a-kind objects in legal, tax, and insurance matters.
Bryson Estates works with clients with all types of net worth and their advisors. Often the highly skilled Bryson appraisers will collaborate with the following service providers:
- Certified Public Accountants (CPA)
- Financial Planners (CFP) and Financial Advisors
- Trust Officers
- Fine Art Dealers
Whether you find yourself dealing with an estate or simply desire to know if your own personal property is highly valued, working with a skilled personal property appraiser is one of the smartest moves you can make. A qualified appraiser like those at Bryson Estates will provide valuations that are legal documents and essential for accurate financial planning. Protecting one's real assets is a part of the financial puzzle that should not be ignored.