How Do I Determine the Fair Market Value of a Cast Iron Bathtub?
According to investorwords.com, fair market value is determined by the price a seller and buyer agree on, assuming that neither of them is desperate for the sale or pressured to make a decision. That price can be, and often is, significantly higher or lower than the intrinsic value of the item. Determining the fair market value for an individual item, such as a cast iron bathtub, is possible with adequate research and consideration.Factoring Fair Market ValueThe article “Determining the Value of Donated Property,” published by the Department of the Treasury, states that there are four main considerations when determining fair market value. The original cost of the item, comparable sales, the cost to replace the item and the opinions of experts should all be taken taken into consideration when trying to determine fair market value. However, when dealing with antiques or vintage items, many other conditions factor into the equation. If your cast iron bathtub once belonged to Abraham Linc
