Antiques Valuations
Approved Antiques Valuers for Probate, Inheritance Tax, Insurance, Fire and Flood Replacement Purposes
Malcolm Green, founder of Green and Cockburn Antique Restoration, has now retired from restoration business leaving future projects to his son, Myles Green. Malcolm now runs his own valuation business with his extensive knowledge behind him, at his new address and his new website at www.antiques-valuations.co.uk
Malcolm is an extremely competent and experienced antiques expert. He can now be contacted on the above IP address, he has worked as a valuer, and fine art restoration expert for 50 years and has been a consultant for the BBC on the antiques restoration roadshow and other antique orientated programmes. He has also been valuing and working with auction houses throughout the country as an independent valuer.
Malcolm has also restored and valued many antique items for museums, embassies and stately homes. He can be contacted on the above website.
Valuation for Insurance Replacement Purposes
We conduct valuation for insurance replacement purposes in a highly professional and informed manner. Items of real value and merit are backed up with photographs and hyperlinks to a dealer, retailer or auction house to prove the authenticity and value of the item.
A William De Morgan Ruby Lustre Dish
Below, you can see an example of a William De Morgan dish and a William De Morgan charger, which had been valued at £3,000 each. Malcolm was contacted by a client who said they had two plates that they wished to sell, and wanted a secondary valuation, which we estimated 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' charger
Lot 59
This bowl or charger sold for £14,000
A client had requested that a painting be included in a probate valuation we undertook on their behalf. After the probate had been settled, they were considering its sale through a particular auction which had offered a lowly price for the painting. It was on our advice that this painting be submitted to a more appropriate auction with the new valuation of £20,000 to £30,000. The painting actually made £39,000. Below, you can see the painting in question.
The End of The Day by Frederick Hall (1860-1948)
Probate Valuations
We can help inform you on how to proceed with your probate valuation. It is important not to sell any of the items prior to the probate declaration having been valued and settled with the HMRC first please click here to access our valuations website
Apply for probate yourself with a PA1P application form
By applying for a probate and filling in the application for PA1P yourself you can save high solicitors fees. However, this needs to be undertaken with careful guidance.
In section 4.2 of the form it asks of you to list the assets of the deceased party. This section does not invite you to put down the values to what you think the items are worth, but the items that have been valued by an expert witness, and included in a documented declaration.
Some clients may be unaware that the deceased's contents need to be declared, and that this declaration needs to be made in relation to chattels, items of merit and white goods. The declaration also must be made from a room to room basis. If the items are of great value or considerable merit, then the executors of the estate should not act as an expert witness to value these items.
If certain items are sold off prior to the probate being settled, HMRC might conclude that these items have been sold simply to avoid adding them into the declaration. We are often undertaking retrospective valuations for certain parties that have failed to declare contents according to HMRC specifications.
Our aim as valuers is to simply lower the price of the items within the estate to the best possible amount, and to instruct the executor of the estate on the best way to proceed. We always provide photographic auction or retail database proof of the low figures acquired in the declaration.
Probate valuations or valuations undertaken for inheritance tax purposes, are our speciality. We have been valuing antiques and contents, as well as advising our clients, for over 45 years. We 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 on the best way to dispose of the items via auction house or dealer.
Our probate valuations are backed up with hyperlinks which point to the auction databases proving the low prices given on items of merit.
Probate, and retrospective valuations.
We are undertaking at the moment rather too many retrospective valuations. When somebody dies and you are left to undertake the valuation process it is very often hard to know how to proceed.
We are willing to help you with this process as most people tend to for some reason to follow it completely wrongly therefore leaving himself open to a retrospective valuation from HMRC.
This is quite often because they are told by the solicitor who they assume to know the rights and wrongs of this process to simply value the contents without telling them that the executor of the estate needs to acquire a valuations expert to undertake this process and that the executor cannot undertake the valuation themselves, otherwise a retrospective valuation could be asked for at a later date.
When you are undertaking a probate or a valuation in relation to inheritance tax items need to be declared from room to room even if there is nothing in that room of any value as that is in itself a declaration.
The value of items should be declared so that these items can be included on the declaration and the cost of the items made clear and plain.
These items should be declared at the very lowest possible price that a valuations expert such as ourselves can find, these prices are declared at provincial auction prices as these are the lowest available on the market.
It is also sometimes important to include a hyperlink to these valuations and just in case an investigation is asked for.
If this probate valuation is undertaken properly and incorrectly it can lower the threshold of money paid. Also, if this process is not undertaken as a HMRC expects it can quite often leave you open to a retrospective valuation.
HMRC have made billions of pounds from retrospective valuations as people have decided not to declare these items and to have the valuation undertaken properly therefore HMRC might very well conclude that the items that have now disappeared from the property were a much greater value than they actually were, but as these items have now been sold or given away this cannot be proved other than undertaking a retrospective valuation.
A retrospective valuation can be really rather quite expensive as this is done after the event of selling the items, photographs receipts and invoices and records sometimes cannot be found therefore undertaking a valuation of this sort can be somewhat troublesome and expensive. That is why a probate valuation to declare them at the lowest price in the first place is very important.
Bereavement or House clearance - What should you do?
When there has been death in the family, or a family member has been placed into care, there is often uncertainty as to the value of the contents in the home, and whether they are of merit. It is advisable to avoid contacting house clearing companies, as they will invariably charge to take it away, and will often contact businesses such as ours to have your items valued to sell. Our advise over the phone is free, please contact Malcolm at www.antiques-valuations.co.uk
If you have been left as the executor of an estate it can be difficult knowing how to proceed. Malcolm can offer advice and guidance on how to make a declaration for inheritance tax purposes.
Malcolm can also advise on any necessary procedures that can be expected of you by the inheritance tax office, and how to take appropriate action and save as much money as possible. Please see the HMRC guidelines.
On occasion, we may find that the contents within a property have little to no value. This is still considered as a declaration of worth which is necessary by law.
The current threshold on paying inheritance tax is £325,000. Once the contents within the property have been valued, you will be aware of where you stand financially.
If there is anything of value within the contents of the property, Malcolm can direct you on how to maintain the highest value of your items, and provide advice on how to sell, if you so wish.
Retrospective Valuations
We also take on retrospective valuations. This is a slightly complicated process, as photographs or other forms of proof are required regardless of whether the items are missing, stolen or damaged.
Fortunately, we continue to have a successful record of clients pleased with the outcome. After restoring and valuing antiques for over 45 years, it is possible to tell from a photograph the age and value of an item. Again, this service is provided through our secondary business website at www.antiques-valuations.co.uk
After valuing your items with the provided evidence, additional proof of its value is provided by us, and will be returned with a hyperlink to the acquired antique premises or retailer. This is so that you will be able to prove the most recent value of the item to hopefully gain recompense.
Fire Damage Advice
After a fire, it may seem impossible that the items could possibly be restored. We can advise accordingly on how they can be restored, as well as advice given freely on how much the item is worth. If the item is to be written off, we can confirm the value of the item and prove this valuation via hyperlink to a reputable antiques retailer.
Restoration or Valuations After the Event (Retrospective Valuations)
Sometimes after a flood, fire or burglary, certain items are no longer around for the client to claim on. We have had excellent success with talking to insurance companies on behalf of our clients in relation to the value of certain items. This occurs after a discussion with the client, via photographs etc, has taken place.
Valuation on Flood Damage
After a flood, we understand that items may appear to be unrestorable, but this is not always the case. Many items can be restored, particularly if they are of an antique nature. Many antique pieces were made using recoverable glues from hoof and horn, and whilst these glues will separate in water, they can certainly be re-applied after drying out. Traditional shellac polishes are also recoverable.
In the unfortunate event that an item is beyond repair, we can advise and conduct on your behalf, a settlement with the insurance company.
Valuation After a Burglary
We understand that experiencing a burglary can be extremely devastating, and that there are many issues to attend to besides claiming on your missing or damaged items.
We can advise you on how to proceed, and direct you to the right organisations that will support you in finding your items besides the police. There are many organisations that can work on your behalf to locate stolen items through the Art Loss Register, and 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 valuing antique items when passing them on within the family, or perhaps if you 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 in such circumstances.
We can assist you in the most complicated and difficult times, as well as advise you on the best way to conduct your valuation.
Insurance Valuations are Advised Before Not After a Disasterous Event
A thorough valuation of your antiques prior to an event occuring will ensure the claim is processed accurately and fairly. Malcolm advises to have comprehensive photographs of valued antiques, geo-tagged to their location, and each individual item of merit recorded. The items must be accurately described, and linked to a similar item in an online database so a realistic value can be proven.
All antique items are indexed and linked with your insurance company. Malcolm will also be able to judge what the item will be worth in later years, taking inflation into account. Items are valued at provincial auction prices as of IHIA 1984s 160.
Below you can see a typical request regarding damaged antique items after a fire (apparently caused by squirrels chewing through electrical cables).
Malcolm has also been used by insurance companies and loss adjusters as a detailed valuer to assist the company and the claimant in assessing the damage correctly.
Valuation of Severely Damaged Items
Antiques that have been damaged by fire or water are difficult for the average valuer to comprehend. With Malcolm's 45 years of experience, he has restored and valued countless items in a distressed state.
Below you can see two damaged chairs affected by a house fire. After our advice and instruction, the clients received the insurance money for the chairs, and they were restored by us 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 many businesses employed by insurance companies. Such businesses are experienced in cutting costs, but are unable to value or restore antiques with care or knowledge. Malcolm can liaise with the insurance company on your behalf to maintain the value and integrity of your antiques.
Investment in Antiques
In troubled times of recession and now, Brexit fears, people are investing in antiques more than ever. We have found that pre-Victorian items are on the increase. Particularly 18th and 17th-century longcase clocks, which many people are considering to be a safer long term investment than simply storing money in the bank.
Malcolm is able to provide advice on any purchase, with experience on investment.
Malcolm is an approved Antique Valuer to tax office standards, and is often requested by auction houses, the public and insurance companies, to value single items or entire estates. Advice is frequently given on probate or valuation matters.
For further advice on the valuation of antiques and fine art please visit our other website at www.antiques-valuations.co.uk.
Malcolm has a strictly unbiased approach to his valuation work. He is not affiliated to any one auction or dealer, and his primary concern is that his advice helps clients find the best price their items.
When 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. If the valuation is for an insurance replacement, he will prove the highest price in terms of replacement.
Why use www.antiques-valuations.co.uk ?
Making sure your items are valued correctly is crucial. By using Malcolm, you can be sure that you have an experienced and highly knowledgeable valuer who wants the best for you and your family.
Malcolm has spoken to many clients that have previously used major auction houses. Whilst they will likely have resident experts with an equal amount of experience, they require an individual charge for their skill, which may increase the overall costs.
Malcolm is competent in all areas of antiques. This would mean that you would be able to avoid multiple bills.
Malcolm is often used by clients to view at auction on their behalf to evaluate an item, and then report back on its authenticity and value.
Looking for an insurance valuation for your antiques - contact
Antiques-valuations.co.uk
Tel : 01462 790646 www.antiques-valuations.co.uk
