We are in the midst of a remodel and replacing all of our appliances. We're looking to donate our existing appliances, but not sure how to determine fair mkt value for them Ideas of how to determine this?
Appliances are just like cars, only worse when it comes to resale value. As soon as they are out of the box and in your home, whether you've used them or not, they lose half of their value. If they are 5 years old or younger, and in "like new" condition, you might get 1/3 of the original value for them. Any older, and you start getting to the $50 territory. Or offering them for free. The only exception to that is some pro style name brands. Then 1/4 to 1/8 of the original value for older ones might be in effect if they are in good condition.
I found the best way to determine FMV for your appliances is to search Craigslist. Run searches on the serial # or make/model and see what people are asking. There is a market for EVERYTHING. I remodeled my kitchen and most of my white Whirlpool appliances dated back to 1999. I sold them all on CL. Someone gave me $60 for my dishwasher and used it for parts because ordering the two parts needed for his broken DW would've been much more than just buying mine and junking the rest.
I'm assuming the charity will haul your appliances, which saves you a lot of hassle . I was lucky to have my contractor move all of mine into my garage, which made it easy for folks to haul themselves.
I have them in a pod right now but if going to donate would be nicer to do before the end of the year. Have the cabinets, solid surface counter tops and sink / grohe lady lux faucet too.
If you google donation valuation of used appliances, you'll find some sites that give you a range of values.
I also used Craigslist prices to determine current market value for my range, fridge & OTR microwave. All three sold immediately. Those are the prices I would use to determine FMV when donating appliances.