FAQ

Most frequent questions and answers

Kings Auctions Inc. has over 30 years experience in auctions, consignments, and public and private sales.  References available upon request.

Kings Auctions Inc. manages the sale, auction, an consignments of all types of fine art, fine jewelry, classic cars, coins, designer items, memorabilia, and large and small collections/collectibles.

Fair market value is the price that a willing buyer will pay to a willing seller. Specific circumstances must exist for fair market value to be determined.

Neither the buyer nor seller can be forced to make the deal. Both must enter into the transaction willingly and the buyer must understand the relevant facts regarding the purchase.

Furthermore, anything that can be traded, bartered or sold has a fair market value. If you are selling a used sofa, the amount a buyer is willing to pay for that piece of furniture quickly determines its fair market value. Fair market value can be determined in other ways, including the following:

Comparative analysis — When real estate is being sold, agents conduct a “comparative market analysis,” meaning they compare the property in question to other properties with similar features. The same can be done for other assets, including coins, classic cars and jewelry. It is a matter of finding another item like yours and learning the price at which it has recently sold.

An appraisal is a formal written report that requires adherence to USPAP guidelines, IRS dictated regulations, and liability agreements. Appraisals have a specific value for a specific purpose at a specific time — such as a fair market value appraisal for estate tax purposes as of the date of death or a retail replacement value appraisal for insurance purposes as of today’s market. Appraisals are a fee-based service due to the amount of research involved to pinpoint a specific value that will often be used by a third party to establish a basis for insurance, tax, or a loan.

Auction estimates are quick and free opinions of the current market value of items. They are the range of value that one would expect to see the item sell for in today’s auction market. This valuation is not intended for any purposes of establishing a value for insurance, tax, estate planning, collateral, or third party transactions. Request a free auction estimate here.

ou need an appraisal from a qualified appraiser because they provide an unbiased analysis of the value of your property so that you can protect your financial well-being and investments. An appraisal is necessary and responsible for purposes of:

  • Gaining insurance coverage
  • Maintaining accurate insurance coverage value for your property
  • Equitably dividing assets in an estate
  • Equitably dividing assets in a divorce proceeding
  • Evaluating federal estate tax liability in cases of death
  • Evaluating federal gift tax liability
  • Reporting charitable gift donations to the IRS for tax purposes
  • Accounting purposes

If you are near one of our many offices we will pick up your item free of charge.

If you are not located close to one of our items you may send your item to us via the shipper of your choice. We prefer Fed Ex and UPS. Of course always insure your item for the full value when shipping.

The length of time can vary depending on the urgency to sell.

The economy of 2020 is an excellent time to sell just about anything. Values are up across every industry. 2020 is poised to be a strong economy and an excellent selling opportunity. It is a sellers market for now. 

Absolutely. Over the past 30 years Kings Auctions Inc. has developed an impressive network of collectors, investors, and buyers of all types around the world who are always seeking opportunities to buy regardless of the condition of the economy. 

Clients of Kings Auctions Inc. can choose both or either option. For the buyer, Private Sales are suited to specific requests where a client is absolutely certain of what they are looking for. Should that object be offered at auction in the meantime, then Kings Auctions Inc. would be able to assist in this matter too.

Yes, Kings Auctions Inc. gladly will provide a free auction estimate and provide you with a free consultation. Simply provide some basic information and a few photos if possible via their online portal here and they will get back to you typically within 24 hours.  Or for immediate services you can contact your local Kings Auction Inc. office which can be found here.

Private Sales are a discreet and highly bespoke service which connects a specific work of art or object with a buyer. Acting as broker, Kings Auctions Inc. makes these connections through its global.

Seasoned collectors, investors, and individuals regularly approach Kings Auctions Inc. seeking a specific item so often a buyer is just a phone call away.

Kings Auctions Inc. works one-on-one with consignors and buyers. The firm offers a bespoke service — helping clients to find specific works of art or object through our network of specialists around the world and then negotiating the exchange. Given our many years of experience in this business, we are fortunate to have privileged access to rare and unique works of art and have the relationships with the current owners to broker a sale.