How to Value an Estate: A Room by Room Guide
How to value an estate is the first thing families need to figure out after someone passes. Whether you’re the executor, a surviving spouse, or one of several heirs, knowing what everything is worth changes every decision you make. I’m Chad Busby, owner of Busby Antiques in Oviedo, Florida. I’ve walked through hundreds of homes and put values on everything from gold class rings to 18th century sideboards. Here’s how I do it — and how you can start before I even show up.
Why You Need to Value an Estate
Estate valuation isn’t just about satisfying curiosity. There are real legal and financial reasons to know what things are worth:
- Probate — the court may require an inventory of estate assets and their fair market values. See our guide on probate estate buying for how this works in Florida.
- Estate taxes — estates over the federal exemption ($13.61 million in 2026 per the IRS) owe taxes on the overage. Florida has no state estate tax.
- Fair division among heirs — you can’t split things fairly if you don’t know their values
- Insurance claims — if items were insured, the insurance company needs documentation
- Selling decisions — knowing values helps you decide what to keep, sell, donate, or discard
The Three Types of Value
Before you start putting numbers on things, understand that there are three different ways to measure value. The number changes based on the context:
| Value Type | What It Means | When You Use It |
|---|---|---|
| Fair Market Value | What a willing buyer would pay a willing seller, neither under pressure | Probate, estate taxes, dividing assets among heirs |
| Replacement Value | What it would cost to buy the same item from a retail dealer today | Insurance purposes — always the highest number |
| Liquidation Value | What the item would bring in a quick sale | Estate sales, urgent liquidation — always the lowest number |
Source: American Society of Appraisers
Room by Room: Where the Value Hides
Here’s how I approach a home when evaluating an estate buyout. Follow this same path and you’ll have a solid rough picture before calling in a professional.
Master Bedroom
This is usually where the money is. Check:
- Jewelry boxes and dresser drawers — gold, diamonds, watches, signed pieces. I’ve found single jewelry boxes worth $5,000 to $20,000.
- Nightstand drawers — cash, coins, small gold items tucked away
- Closets — shoe boxes and purses are favorite hiding spots. Old wallets often have bills and coins inside.
- Under the bed and mattress — yes, people still hide valuables there
Dining Room
- China cabinet — fine china sets, crystal glassware, serving pieces. Check the back stamps for brands like Meissen, Herend, or Royal Copenhagen. Read our guide on what fine china is worth.
- Silver chest or butler’s pantry — sterling silver flatware and serving pieces. Check for “925” or “Sterling” stamps. A complete set can be worth $800 to $5,000+ in today’s silver market.
- Dining furniture — solid wood tables, chairs, and sideboards from before 1950 can be quite valuable. Antique furniture with original finish in good condition brings top dollar.
Living Room and Den
- Art on the walls — original paintings, signed prints, and lithographs. Flip them over and check for gallery labels, artist signatures, or auction stickers.
- Bookcases — first editions, signed books, leather bound sets. Also check for coins, jewelry, or cash tucked behind books.
- Furniture — quality sofas don’t hold much resale value, but tables, desks, secretaries, and display cabinets can be very collectible
- Clocks — grandfather clocks, mantel clocks, and cuckoo clocks from quality makers (Howard Miller, Ridgeway, Seth Thomas)
Garage, Attic, and Basement
This is the treasure zone. Families store things here and forget about them for decades.
- Boxes of old toys — vintage toys in original packaging from the 1960s through 1980s can be worth hundreds to thousands each
- Comic books — Golden and Silver Age comics (pre-1970) are the most valuable. A single key issue can fund a year of mortgage payments.
- Tools and equipment — vintage hand tools, machinist tools, and quality power tools hold value
- Coins and currency — old coins in jars, coffee cans, and cigar boxes. Check for pre-1965 silver coins and any gold coins.
- Military items — uniforms, medals, swords, helmets, and field gear from WWI and WWII are very collectible
Kitchen and Utility Rooms
- Cast iron cookware — Griswold and Wagner pieces from the early 1900s bring premium prices
- Pyrex and vintage kitchenware — certain patterns are very collectible
- Junk drawers — check every drawer. I’ve found gold chains, old coins, and small valuables mixed in with rubber bands and twist ties
DIY Valuation vs Professional Appraisal
You can get a rough idea of values on your own using these free resources:
- eBay sold listings — search for similar items and filter by “Sold Items” to see actual sale prices, not asking prices
- LiveAuctioneers — auction results database for antiques and fine art
- Replacements.com — the go to site for china, crystal, and silver pattern identification and values
- JM Bullion — live gold and silver spot prices for calculating melt value of precious metals
For probate, insurance, or high value collections, you’ll need a certified professional appraiser. The American Society of Appraisers (ASA) and International Society of Appraisers (ISA) both have directories to find credentialed appraisers. Expect to pay $150 to $250 per hour for a certified appraisal.
Or, for a free informal evaluation with no obligation, call me. I’ll walk through the home and give you an honest assessment of what’s there and what it’s worth. That’s what we do at Busby Antiques.
Common Valuation Mistakes
- Using insurance values as sale prices — replacement value is typically 2x to 3x what an item will sell for. Don’t expect to get insurance appraisal prices in a sale.
- Trusting online price guides blindly — asking prices on eBay mean nothing. Only sold prices count.
- Ignoring condition — a chip, crack, stain, or missing piece can cut value by 50% or more
- Cleaning or refinishing before appraisal — original finish and patina add value to antiques. Refinishing a 200 year old desk can destroy half its worth.
- Valuing sentimentally instead of objectively — “Dad paid $5,000 for this in 1985” doesn’t mean it’s worth $5,000 today. Markets change. Some things go up. Many go down.
FAQ: How to Value an Estate
How much does it cost to get an estate valued?
A certified professional appraisal costs $150 to $250 per hour and may take 2 to 8 hours depending on the estate size. A free estimate from an estate buyer like Busby Antiques costs nothing and gives you a solid ballpark for the items we specialize in.
Do I need an appraisal for probate in Florida?
Florida probate law requires the personal representative to file an inventory of estate assets within 60 days of appointment. For personal property like antiques, jewelry, and collectibles, a professional appraisal establishes fair market value for the court record.
What estate items are worth the most?
The highest value items I find in estates are gold jewelry (especially with today’s record gold prices), sterling silver collections, coin collections, quality antique furniture, and comic books. A single estate can contain $5,000 to $50,000+ in items people don’t realize are valuable.
Who can help me value an estate in Central Florida?
Busby Antiques offers free in home estate evaluations across Orlando, Oviedo, Winter Park, Winter Springs, Casselberry, and surrounding areas. Call (407) 529-6952 or contact us here.
Understanding how to value an estate starts with knowing where to look, what to look for, and who to call. Take it one room at a time, don’t throw anything away until it’s been evaluated, and get expert help on the items that matter most.
