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system
for net worth, should i value physical property at my cost to replace it, or the amount i could get for selling it?
user
you are not asking for insurance purposes. so i'll go with this - i have two asset numbers i track. all investments, retirement accounts, etc, the kind that are valued at day's end by the market, etc. from that number i subtract the mortgage. this produces the number that i can say is my net worth with a paid in full house. the second number simply adds back the house's value, give or take.  unless i owned art that was valued in the six figures, it seems pointless to me to add it up, except for insurance. if my wife and i died tomorrow, the kid can certainly auction our stuff off, but knowing that number holds no interest for us. when most people talk 'net worth', i don't see them adding these things up. cars, maybe, but not even that.
assistant