Where do appraisers find comparable sales for antique silver?
In realized auction and marketplace records from venues like Sotheby's, Christie's, Bonhams, and eBay completed listings. Realized prices, not asking prices, form the backbone of a credible sales comparison analysis, layered on top of a melt-value floor computed from weight, purity, and the current silver spot price.
Can an executor estimate values on a New Mexico probate inventory?
Yes. New Mexico's inventory statute allows values based on the personal representative's good-faith estimate or other reasonable information, and the state has no probate referee system or mandatory appraisement form. For silver, antiques, and collections of real consequence, though, a documented appraisal with recorded hallmarks and weights protects the estate far better than an estimate.
Is inherited silver taxed by New Mexico?
No. New Mexico imposes no state estate or inheritance tax, so there is no state-level death tax on a silver collection passing to heirs. Valuation still matters for the probate inventory and, in large estates, for federal filings that use fair market value as of the date of death.
Does a sheriff's sale of silver in New Mexico require an appraisal?
Yes, once the property is worth more than $300. Chapter 39, Article 5 of the New Mexico Statutes directs the sheriff to ascertain value and select appraisers for personal property sold under execution, requires those appraisers to be sworn, and requires a schedule of the property. For flatware services and hollowware, that schedule is only as good as the hallmark, weight, and pattern detail behind it.
Will a court order an appraisal of inherited silver in a partition case?
Usually, but not always. Under Section 42-5A-6 NMSA, part of New Mexico's Uniform Partition of Heirs Property Act, the court ordinarily determines fair market value by ordering an appraisal, yet it may forego one and decide value after an evidentiary hearing when the cost would outweigh its evidentiary value. Co-owners who want the silver valued properly are better off bringing a documented appraisal of their own.