What formula is used to determine value on furniture, & other items? If actual cost of items can be produced then what? If say a motorcycle has been customized chrome & paint job how does that get added to actual value of motorcycle? At what point in negotiations can you say sell it & split the money?
Personal property items, such as furniture, are valued using their fair market value as of the date of separation - the price you could receive if you sold it on the date of separation. The actual cost of personal property items are not considered.
The motorcycle, even with the customizations, is valued at the fair market value as of the date of separation.
At any point during the negotiations you can say that certain personal property items should be sold and the proceeds divided equally.
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