What value standards show up in firearm appraisals?
Three main ones: fair market value for estate, IRS, and donation work; replacement value for insurance, defined as the cost to replace the gun with one of similar quality in the retail market; and liquidation value for rapid-sale contexts, typically the lowest figure once commissions are netted out. The report should state which applies and why.
Do New Hampshire estates need appraisals for firearms?
The Inventory of Fiduciary (form NHJB-2125-Pe) is due within 90 days of appointment with all personal property valued as of the date of death, and while an independent appraiser is only mandatory if the court orders one, probate guidance points to qualified appraisals for high-value items. A documented firearm appraisal heads off disputes among heirs.
Why do appraisers ignore asking prices when valuing guns?
Because unsold listings prove nothing about value. Fair market value rests on completed transactions for the same make, model, caliber, and condition, drawn from closed auction results and dealer archives. Owners who anchor on optimistic asks routinely over-insure their collections or misprice individual guns for sale.
Can a New Hampshire executor pass a pistol to a minor heir?
Yes. RSA 159:12 generally makes selling, lending, or giving a pistol or revolver to a minor a misdemeanor, but the statute carves out an express exception that covers executors and administrators, alongside parents and grandparents. An estate distributing handguns to young heirs should still document each gun's value so the division stays even.
Why are firearm comparables unusually strong in New Hampshire?
Because the market is deep for the state's size. Amoskeag Auction Company in Manchester runs national-caliber specialty auctions for antique and modern arms, producing realized prices close to home, and manufacturers like SIG SAUER in Newington and Ruger's castings operation in Newport anchor an active local firearms economy. That density gives appraisers better regional sales evidence than most states offer.