Opinion ID: 1814261
Heading Depth: 1
Heading Rank: 3

Heading: household furnishings and ranch equipment

Text: On remand, the estate presented evidence that the property had been sold at auction in November 1995 for a much larger amount than as appraised by the appellees. The appellees' appraisal of the property showed the value of household furnishings as $4,342.50 and the value of ranch equipment as $15,890. However, the auction brought in gross proceeds of $101,589, which accounted for $95,456.17 in proceeds to the appellees after costs. One of the reasons for the disparity in value was that certain items of property had been mischaracterized and undervalued by the appraiser. For example, a table described as veneered and appraised at $375 turned out to be oak and sold at auction for $2,700. However, the appellees presented evidence that they had included some of their own property in the auction, some of which sold for upward of $6,000. In addition, there were many small items sold at the auction that were not listed in the appraisal.