Approved Antiques Valuers for Probate, Inheritance Tax, Insurance, Fire and Flood Replacement Purposes
Malcolm Green who started Green and Cockburn antique restoration has now retired from the restoration side of the business, and now runs his valuation business and has a new website which is......
www.antiques-valuations.co.uk Malcolm a very competent antiques expert has been a valuer and restorer and consultant for the BBC on the antiques restoration roadshow and other antique orientated programmes and has been valuing and restoring antiques and fine art for over 45 years.
Malcolm also has restored and valued many antique items for museums embassies and stately homes and can be contacted on the above website.
This client acquired this painting from a probate that we undertook on their behalf and after the probate had been settled, they were seriously thinking of selling it a particular auction which had offered a fairly lowly price for the painting, on our advice this painting was submitted to a more appropriate auction with the new valuation of £20,000 to £30,000 and the painting actually made £39,000. Below you can see the painting in question.
The End of The Day by frederick Hall (1860-1948)
We can help you by informing you how to proceed with your probate valuation the first most important thing to remember is not to sell any of the items prior to the probate declaration having been valued and settled with the HMRC.
Apply for probate (Form PA1) yourself with a PA1 application form
By applying for a probate yourself and filling in the application for PA1 you can save yourself solicitors fees but this needs to be undertaken with some guidance.
In section 4.2 of the form it asks you to list the assets of the deceased party, this section does not mean you are to put the values that you think the items are worth, but the items that have been valued by an expert witness and included in a documented declaration.
A lot of the clients that phone us do not seem to be aware that the deceased's contents need to be declared and this declaration needs to be made fully in relation to chattels and items of merit and white goods, this declaration needs to made from a room to room basis,also if the items are of great value or considerable merit the executors of the estate should not also act as an expert witness to value the items.
If certain items are sold off prior to the probate been settled HMRC might conclude that these items have been sold simply to avoid adding them into the declaration as we are undertaking retrospective valuations for certain parties that have failed to declare the contents according to HMRC specifications.
Our aim as valuers is simply to lower the price of the items within the estate to the best possible amount and to instruct the executor of the estate the best way to proceed, when we are undertaking this valuation process we provide in the declaration, photographic auction or retail database proof of the low figures acquired.
Probate valuations or valuations undertaken for inheritance tax purposes are our speciality, we have been valuing antiques and contents and advising clients for over 45 years and are fully aware of all the pitfalls and can advise willingly on the best way to proceed.
We can also advise the client after the probate is settled how to the best way to dispose of the items via auction house or dealer.
Our probate valuations are backed up with hyperlinks pointing to auction databases to prove the low prices given on items of merit.
Valuation for insurance replacement purposes.
Valuation for insurance replacement purposes is undertaken in a highly professional and informed manner, items of real value and merit are backed up with a photograph and hyperlink to a dealer or retailer or auction house to prove to the insurance investigator if necessary in the case of a claim the authenticity and value of the item.
A William De Morgan ruby lustre dish
Below you can see one William De Morgan dish and one William De Morgan charger which had been valued at £3,000 each. Malcolm was called by the client who said they had some plates that they wished to sell and wanted a secondary valuation we estimated the value to be somewhere in the region of £15,000.
On his advice, these items were sold at auction and between them they achieved £21,200.00.Lot 58
This dish sold for £7,200
A William De Morgan 'Sunset and Moonlight Suite' chargerLot 59
This bowl or charger sold for £14,000
Fire damage advice.
After a fire it sometimes seems impossible that the items can possibly be restored we can advise accordingly on how they can be restored, advice given freely on how much the item is worth and advise the client how to proceed.
If the item is to be written off we can advise the client on the value of the item and prove this valuation by pointing it via hyperlink to a reputable antiques retailer.
On restoration or valuations after the event (retrospective valuations)
Sometimes after a flood or fire or burglary certain items are no longer around for the client to claim on but we have had excellent success in talking to insurance companies on the client's behalf in relation to the value of the item after discussing with the client via photographs etc.
Valuation on flood damage.
After a flood everything seems to be lost and not recoverable but that is not so, some things can be restored particularly if they are of an antique nature as many antique items were made using recoverable glues made from who from hoove and horn, these clues will separate in water but can certainly be re- glued again after drying out, traditional shellac polishes also are recoverable.
On the other hand if the item is beyond repair we can advise and conduct on your behalf a settlement with the insurance company.
Valuation after a burglary.
After a burglary which is an extraordinary stressful time there are many things to do that are more important than claiming on your missing or damaged items.
We can advise at this time early on how to proceed and how to contact organisations that can help fine your items other than the police, there are many organisations that can work on your behalf, to find your items such as the fine Art loss register the British antique furniture restorers Association, LAPDA etc.
If your items are not able to be recovered we can value your items retrospectively..
We can also help by undertaking valuations of your antique and valuable items with regards to passing them on within the family or maybe you just simply need to know how much they're worth.
We have been working with and advising claimants and insurance companies for the last 45 years on the best way to proceed.
We can help you with all these aspects in relation to our business and advise you accordingly on the best way to conduct your valuation.
Family death, valuation or house clearance - what do you do?
When somebody dies or is in a home and you're not sure as to the value of the contents or whether they may be of an antique nature do not phone house clearance people as they will invariably charge to take it away and quite often ask antique valuers such as ourselves as to the value of the items acquired, if you contact Malcolm on www.antiques-valuations.co.uk he can advise you accordingly, there is no charge for advice over the phone.
If one is left as the executor of an estate it can be quite complicated knowing how to proceed, he can offer advice freely for those people requiring help in relation to whether they should make a declaration for inheritance tax purposes or not.
Malcolm can advise on any necessary procedures that can be expected of you by the inheritance tax office and how to follow the best procedure and to the right thing and save as much money as possible. Please see the HMRC guidelines.
Sometimes Malcolm may be asked to value the contents in a property where there is nothing of any value whatsoever, which is fine as this in itself is a declaration of worth in relation to the valuation required which is necessary by law.
The threshold at the moment in relation to whether you pay inheritance tax or not is £325,000 once the contents within the property are valued you will be aware of how close to the threshold you are.
It doesn't cost much to get the items valued professionally to see if there's anything there of value.
If there is anything of value within the contents of the property he can direct you as to correct procedure to maintain the highest value of the item and the best way of selling if you do so wish.
Retrospective valuations can also be undertaken but this is somewhat more complicated, you have to have a very understanding insurance company and photographs or some kind of proof of the items that are now missing stolen or damaged by fire.
We do though have a good record of undertaking this service after restoring and valuing antiques for over 40 years it is possible to tell from a photograph the age and value of an item, again this service is undertaken at our sister company. www.antiques-valuations.co.uk
Then by linking this item using a hyperlink, the photograph and hyperlink information may have to be acquired from the antique premises or retailer so that one can prove the most recent value of the item to hopefully gain recompense .
Insurance valuations required before not after the disasterous event
A proper valuation of your antiques prior to needing to make an insurance claim will ensure the claim is processed accurately and fairly. Malcolm has have found it necessary to have comprehensive photographs of valued antiques, geo-tagged to their location and each individual item of merit recorded, accurately described and linked to a similar item in an online database so a realistic value can be proven.
All antique items are indexed linked with your insurance company i.e. he is able to project what the item will be worth in later years, taking into account inflation. Items are valued at provincial auction prices as of IHIA 1984s 160.
Below you can see a typical call out regarding damaged antique items after a fire which apparently was caused by squirrels eating through electrical cables.
Malcolm is also used by insurance companies and loss adjusters as a detailed valuer to help the insurance company and the claimant to assess the damage correctly.
Malcolm has also undertaken quite a lot of valuation work for the restoration roadshow with Eric Knowles on behalf of the BBC and is a member of the restoration team.
Valuation of extremely damaged items
Antiques that have been damaged by fire or water are rather hard for the average valuer to comprehend, but as Malcolm has been restoring antiques for many years now retired from a profession but has been used to seeing things in an extremely damaged state, therefore valuing them in this condition is the norm.
Below you can see two very fire damaged chairs after our instruction the clients received the insurance money for these chairs they were restored by us back to their original value of £5000 each.
Fire and flood damage - Phone us before your insurance company
Phone us prior to contacting your insurance company, otherwise it is possible that your fine antique items may be passed on to one of the businesses employed by insurance companies who clean carpets etc as cheaply as possible. Malcolm can liaise with the insurance company on your behalf so as to maintain the value and integrity of your antique item.
After many years in the business we are used to dealing with relevant police forces in tracing lost items, he also have a vast database to compare your item. We are experienced in assisting our clients with insurance claims.
Investment in Antiques
In these troubled times of recession people are investing in antiques more and more. We have found that pre Victorian items are generally on the increase in particular 18th and 17th-century long case clocks, which people are finding have a much better investment than putting their money in the bank.
Malcolm is willing to provide advice on any antique item purchase, with a view to investment.
Malcolm is an approved Antique Valuer to tax office standards and is often asked by auction houses, the general public and insurance companies to value single antique pieces or whole estates. Advice is given on probate or valuation matters.
For further advice on the valuation of antiques and fine art across the spectrum please see our sister site www.antiques-valuations.co.uk where Malcolm Green is the prime valuations expert.
He is completely unbiased with hisvaluation processes as he is not affiliated to any one auction or dealer therefore he can advise you where to acquire the best price for your items.
When we are valuing for probate or inheritance tax he will prove the value of the item as low as possible with a photographic hyperlink to a database, to prove its value and when we are valuing for insurance replacement he will do the same to prove the highest price in terms of replacement.
Why use www.antiques-valuations.co.uk
Making sure your items are valued correctly is very important. By using Malcolm you can be sure that you have somebody who is knowledgeable across the valuation spectrum.
If you employ a major auction house they will have an art expert a furniture expert and a china or porcelain expert who will charge individually for their skill.
Malcolm is competent in all valuation aspects with one charge that is competitive enough for us to be used by major auction houses on a freelance basis.
Malcolm is often used by clients to view at auction on their behalf to evaluate an item and then report back to its authenticity and value.
Looking for an insurance valuation for your antiques - contact
Tel : 01462 790646 www.antiques-valuations.co.uk