Appraisal Services



Waddington’s has been providing professional appraisal services for over 160 years. Our specialists are internationally recognized as experts in their fields. We create comprehensive written appraisals with objective, justified values that can be prepared to ISA and USPAP standards. There are many reasons for which you may require an appraisal including: - Estate Planning and Tax Reporting - Insurance Coverage - Equitable Distribution - Charitable Donation - Donation of Certified Cultural Property - Bankruptcy, Divorce or Partnership Dissolution Whether a simple valuation for sale or a complex inventory, we can provide you with the information you need to make informed decisions. We can also provide verbal appraisals when circumstances warrant a more informal, lower cost approach. Please contact Ellie Muir, member of ISA and USPAP compliant, to discuss your appraisal needs: Appraisals@waddingtons.ca

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Estate Planning and Tax Reporting
In the case of an estate, a fair market value appraisal is used for the function of determining estate administration taxes and to assist in the division of property. According to the Canada Revenue Agency the generally accepted meaning for Fair Market Value is “the highest price, expressed in terms of money, that the property would bring in an open and unrestricted market between a willing buyer and a willing seller who are both knowledgeable, informed and prudent, and who are acting independently of each other”.

Insurance Coverage
If you require an appraisal for insurance coverage, our insurance appraisals will minimize any risk of you not receiving the full value for your property, yet ensure you aren’t overpaying for coverage.

Charitable Donation
When you donate property to a registered charity, you qualify for a tax credit based on 75% of the fair market value of the property. If the deduction is $1000 or greater, you are required by Revenue Canada to have a fair market value appraisal. Capital gains taxes must be paid on the difference between the fair market value and the price at the time of purchase.

Donation of Certified Cultural Property
Certified cultural property donations bring the greatest tax benefits, as they are not subject to capital gains tax. You can claim the full 100% of the appraised fair market value. If the donation is $50,000 or less you will require one fair market value appraisal. If the value is greater than $50,000 you are required to submit two appraisals, prepared independently of each other. The appraisals must meet the format guidelines established by the Canadian Cultural Property Export Review Board.

Certified Cultural Property is described by Revenue Canada as a property of outstanding significance and national importance to Canada, for which the Canadian Cultural Property Export Review Board has issued a certificate. if the cultural property is not certified, the donation is considered a regular gift in kind and you will receive an official donation receipt based on the fair market value however you will not receive the same tax advantages as a certified cultural property. Regardless of whether the cultural property is certified or not, you will require a fair market value appraisal for gifts $1000 or greater in value.

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UPCOMING AUCTIONS & EVENTS



Select Online Auction of Canadian Art and Decorative Arts
June 16 - 21, 2018


On View:
Sunday, June 17
from 12:00 pm to 4:00 pm
Monday, June 18
from 1:00 pm to 7:00 pm


View the Auction Gallery


Fine Rugs & Carpets Online Auction
June 23 - 28, 2018


On View:
Sunday, June 24
from 12:00 pm to 4:00 pm
Monday, June 25
from 1:00 pm to 7:00 pm

Proceeds to benefit the McMaster Museum of Art and the Ontario Art Foundation.

View the Auction Gallery


British & Continental Art Online Auction
June 23 - 28, 2018


On View:
Sunday, June 24
from 12:00 pm to 4:00 pm
Monday, June 25
from 1:00 pm to 7:00 pm


"Off the Wall" Art Online Auction
July 7 - 12, 2018


Sunday, July 8
from 12:00 pm to 4:00 pm
Monday, July 9
from 1:00 pm to 7:00 pm


Canadian Art Select Online Auction
August 25 - 30, 2018


On View:
Sunday, August 26
from 12:00 pm to 4:00 pm
Monday, August 27
from 1:00 pm to 7:00 pm


Inuit Art Online Auction
August 25 - 30, 2018


On View:
Sunday, August 26
from 12:00 pm to 4:00 pm
Monday, August 27
from 1:00 pm to 7:00 pm


Fine Wine Online Auction
September 10 - 18, 2018


Consignment Deadline: July 20, 2018


Fine Spirits Online Auction
September 10 - 18, 2018


Consignment Deadline: July 20, 2018


Fine Wine Online Auction
November 19 - 27, 2018


Consignment Deadline: September 21, 2018


Fine Spirits Online Auction
November 19 - 27, 2018


Consignment Deadline: September 21, 2018