Personal property is defined, quite simply, as tangible, moveable property, be it collectible, utilitarian or decorative. My appraisal company specializes in fine arts, antiques, and decorative arts.

I have discovered that most people do not know the value of their possessions. In fact, most people are richer than they think. Let me give you an example.

I was recently called to do an appraisal of some antique American oak furniture. While I was doing the appraisal, my client told me about some paintings that had been sitting in her basement for years. Because the paintings appeared to be in poor condition and the theme was not to her liking, my client was about ready to throw them in the trash. She felt sure they had little or no value.

But when she showed me the paintings, I immediately recognized that their quality and age indicated a potentially valuable work of art. Upon further research, I discovered the paintings were 17th century Dutch seafaring scenes, which my client was able to sell for a considerable amount of money.