One of the more difficult challenges to the personal property appraiser is deciding upon the significance of associative value on the price he or she will ultimately place on an art work, antique, decorative object or just mundane household item otherwise destined for a New Jersey landfill. First of all, what is associative value? For the purpose of this article at least, we are discussing the additional increment(s) assigned to any personal property whose value could be enhanced by having been owned by or associated with a renowned collector, celebrity or other individual or institutional entity.
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The above is an excerpt from an article by Elin Lake-Ewald, Ph.D, ASA, RICS, published in the ASA Personal Property Journal, Winter 2000.
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