Service Information

Musical Instrument Appraisals

Dr. Rice prepares instrument appraisals to meet a variety of needs:

• Fair market value to sell an instrument
• Estate evaluations
• Expert authentication
• Legal proceedings
• Tax credits for donations to non-profit organizations
• Insurance replacement valuation
• Any other situation that requires a professional determination of value

An instrument appraisal safeguards your investment and provides essential information for various scenarios. Whether you’re a musician, collector, or seller, having an accurate appraisal is invaluable.

Tyoes of Appraisals

Two Basic Types

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  Fair Market Value

  Fair Market Value is "the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts." (IRS Guidelines)
  This value is researched for musical instruments that are to be sold, given to a non-profit institution, for estate evaluations, and for legal proceedings.

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  Insurance Replacement Value

  Insurance Replacement Value is "The highest price in terms of cash or other precisely revealed terms that would be required to replace a property with another of similar age, quality, origin, appearance, provenance and condition, within a reasonable length of time in an appropriate and relevant market. This definition includes various anticipated costs such as: purchase from an appropriate dealer; purchase at a well publicized public auction where comparable property is regularly sold; and engagement of a commissionaire or any other consultant." (American Society of Appraisers definition)
  This value is researched for musical instruments that require an insurance appraisal or have to be replaced.

Fees and Requirements

Instrument Appraisal Fees

Fees vary by the type of instrument(s), the number of instruments, the rarity of the instrument(s), and the kind of appraisal requested. Please contact Dr. Rice by email, phone, or fax for an estimate.

Information Needed for Appraisal

An appraisal can be done from photographs and detailed descriptions provided or, if necessary, by first-hand study. Appraisals are available for one instrument to an entire collection.