In divorce property division, household items are valued at Fair Market Value (FMV)—what a willing buyer would pay a willing seller in current condition—not the original purchase price or replacement cost.
A common misconception in divorce proceedings is that personal property should be listed at the price originally paid or the cost to buy a new replacement. Courts strictly evaluate personal property based on Fair Market Value (FMV) in its current used state.
Fair Market Value is defined as the price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell, and both having reasonable knowledge of relevant facts.
What you paid 5 years ago at Macy's ($3,000). Rejected by courts due to immediate depreciation upon use.
Cost to buy a brand new equivalent item today ($3,500). Used for insurance claims, NOT divorce division.
What the used sofa would sell for on eBay, Facebook Marketplace, or OfferUp today ($400). Court standard.
While general furniture and kitchenware can be valued using online sold comps, certified professional appraisals are recommended for high-value specialty assets:
Create draft inventory schedules, attach photo evidence, and calculate net equalization scenarios in minutes.
⚡ Create Free PE Proper Account