Fair Market Value: $2,000 - $3,000
Suggested Asking Price: $1800
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. It does not, however, factor in the commission and fees that auction houses typically take. Mearto specialists estimate this value, which is expressed as a range, based on recently achieved auction results for similar items.

Suggested Asking Price

If you’d like to sell your item, we offer an opportunity through the Mearto online marketplace. To help you receive the most offers, our specialists have recommended a reasonable asking price to start negotiations. This price is lower than the fair market value because the dealers and professional buyers who access our marketplace have to “flip” your item to make a profit. You are under no obligation to accept our suggested asking price or any offer you receive from the marketplace.

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.

How much is your item worth?

Why does Mearto provide two different values for my item?

Mearto’s cornerstone product is the online fair market valuation, which we provide to every customer. If you indicated an interest in selling your item when you submitted it for an online appraisal, we also include a suggested asking price. If you did not indicate an interest in selling, we offer an insurance valuation as a courtesy, in the event that you want to take out an insurance policy or file a claim on your 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.

Can I sell my item for more than the suggested asking price?

Of course! Mearto specialists are typically quite conservative in their valuations to increase your chances of selling your item on our online marketplace. However, before the item enters the marketplace, you’ll have an opportunity to accept or revise our suggested asking price.

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.