Fair Market Value: $2,000 - $3,000
Insurance Value: $5,000

What's the Difference?

Fair Market Value (FMV)

An item's fair market value, also called the auction value, is what you could reasonably expect it to sell for if you were to take it to auction tomorrow. Mearto specialists estimate this value, which is expressed as a range, based on recently achieved auction results for similar items.

The online Fair Market Valuation is Mearto's cornerstone product.

Insurance Value

The insurance value is an estimate of the entire cost to replace your item if it were to be damaged, lost or stolen. This value, also called the retail replacement value, is higher to reflect retail prices and other replacement expenses, like shipping. At Mearto, this value is expressed as a single number and calculated automatically.

What are the Fair Market and
Insurance Values of Your Item?

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Why does Mearto provide two different values for my item?

Because more than 90% of our customers are interested in selling their items, Mearto’s cornerstone product is the online fair market valuation. As a courtesy, we also offer an insurance valuation to customers that may want to take out an insurance policy or file a claim on their item.

Why is the fair market value lower than what I expected?

The fair market value is estimated by our specialists and based on recently achieved auction results for similar items. We review data published by thousands of auction houses around the world. Upon request, we are happy to provide our comparables, and further clarification on the current economic and market fluctuations that determine value.

Could I sell my item for more than the fair market value?

Of course! The fair market value is only an estimate and Mearto specialists are typically quite conservative in their valuations. In addition, retail and asking prices may vary and be more in line with the insurance value provided.

Why is the insurance value higher than the fair market value?

If your item were to be damaged, lost or stolen and you wanted to replace it in a short period of time, i.e. not wait until a similar item is offered at auction, you would have to pay retail prices, which tend to be much higher than auction prices. You would also incur additional expenses, like shipping. The insurance value is higher to account for these additional costs and to be sure that your insurance policy would cover the full cost of replacement.

Will my insurance company accept this online appraisal?

Some insurance companies accept Mearto’s online appraisal. Others may require a physical examination of your item and more detailed documentation from a certified appraiser. Check with your insurance company and if the latter is required, feel free to use this directory of certified appraisers to find one in your area.

Can I use Mearto’s appraisal for IRS Form 8283 Noncash Charitable Contributions?

No. The IRS requires that appraisals for IRS Form 8283 Noncash Charitable contributions be performed by a certified appraiser that follows the Uniform Standards of Professional Appraisal Practice (USPAP). We maintain a directory of certified appraisers on our website.