- 1). Analyze the item you are trying to value. Consider factors such as when the item was bought, the price paid at purchase, and its current usefulness and condition.
- 2). Research sales of similar items. If you are trying to find the fair market value for a home, for instance, contact realtors in the area and describe the home you are trying to value. Ask for their opinion as to what it would go for and ask about the prices of similarly situated homes. Consider looking into other trusted valuation sources. If trying to price a car, you could consult the Kelley Blue Book.
- 3). Shop the item around for offers. Provide potential buyers with information about the item such as its age and condition. The offers you receive provide an indication as to what buyers are willing to pay. Average the offers out for an idea as to the object's "going rate."
- 4). Consider how much you would accept for the item. Based on the information you have gathered, with special attention to the offers you received, analyze what you would accept for the property. The price you are willing to take and the price a buyer is willing to offer generally indicates the item's fair market value.
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