Probate & Other Valuations
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Probate Valuations
P.F. Windibank are able to carry out valuations within Surrey, Greater London and the surrounding borders (We can travel further by arrangement). We provide a written valuation of individual items or on the entire contents of a property for probate or insurance purposes. This is subject to the items being available for the Auctioneer to inspect.
FEES
The fee for carrying out a Probate valuation is £260.00 (plus VAT) up to £13,000 and 2% thereafter.
Probate Valuation
Whenever Personal Representatives wish to make an application for a Grant of Representation, it is necessary to include on the Inheritance Tax forms a valuation of the Deceased’s personal chattels.
The valuation must be based on “the price that the property might reasonably be expected to fetch in the open market” (section 160 IHTA 1984).
To enable you to provide the Inland Revenue with the correct valuation please ensure that all property belonging to the Deceased is available for inspection. This should include:
- The entire contents of his/her home at the time of death
- Any items stored elsewhere e.g. with a bank
- Any items ‘on loan’ to friends or relations
- All jewellery, watches and precious items
Please ensure that no items are removed prior to the arranged appointment including any items that may have been specifically given to a beneficiary in the Will (if any).
If the Deceased gave away any personal chattels in the last 7 years, these may also require valuing. Please check with your legal advisor. We can also arrange to value these, if required.
At the appointment, we will itemise and value the contents of each room and also include a total value of the sundries in each room. The sundry items are the items that we would be unable to accept for sale (e.g. linen, clothing, kitchen utensils etc) by Auction and would need to be sold elsewhere (e.g clearance firm, car boot sale).
The valuation document will be sent to your solicitor, legal representative or Executor(s). Additional email copies can be sent by request.
Once probate has been granted we can assist with the disposal of the goods and chattels via our Auction and Timed Auction. Any items that we we would not normally sell, we can provide you with details of a house clearance company.
Please contact us if you would like any further information.
Other Valuations
Home visits for valuations can be arranged, please call or email us to book an appointment. In most cases this is a free valuation. Alternatively, you can always bring items in for valuation to our Showroom, please call or email us to book an appointment.
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THE 3 R'S - REASONS TO BUY AND SELL AT AUCTION
Reduce, Recycle, Reuse...................
Sale of Ivory
This Auction we have a few ivory pieces for sale and you will notice that we have included a Submission Reference number in the Lot description. Following on from the Ivory Act of 2018 new Government regulations dated 6 June 2022 mean that if you intend to sell ivory, it must fall below 10% of the total volume or within the approved exempt list and also be registered or certified as exempt. If the item is to be exported, you will need to check if an export permit is required. Currently the cost to apply for exemption is £20 and you will need to provide photos, a description and declare that your item meets the relevant exemption criteria, failure to do this may lead to a significant fine. Full information can be found on the gov.uk/guidance/declare-ivory-you-intend-to-sell-or-hire-out site. The new legislation has had an impact on ivory sales and in many cases, it is not worth paying for the exemption. It is not illegal to own ivory and our advice would be to keep it, give it away as a gift or leave it to someone in your will.
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We're Back!
We just had our third online only auction on 5 September. It went well.
Gold & Diamonds
Expect to see a lot of people walking around dripping with diamonds if recent sales are anything to go by..