We are preparing to list assets we wish to protect in a Chapter 13. Most items are very easy to value but we have one that is very hard to value, a musical instrument that is both an antique collectable and a tool. How should I value it? A) Given enough time ( 1-2 years on average) it might sell for as much as 35K. B) If I were to sell it immediately I could perhaps get 10-15K from a dealer in the field (but not in our city) C) At local "general estate" auction I would guess 1-2K at most E) At an estate sale it probably would bring all of $500-1000 - no one in even our mid-sized city would be likely to have any idea of its worth. F) Yard sale - $200 bucks.
I do not want to sell it - it has immense professional as well as emotional value. Any thoughts?
I do not want to sell it - it has immense professional as well as emotional value. Any thoughts?