Understanding the Different Levels of Value: It’s Worth What Where and When?
Artifactual History Appraisal
SEPTEMBER 17, 2019
All appraisal reports written in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) have to include identification of the level of the market the appraised values are set in and the effective date of the valuation. That $400 is called the hammer price, referencing the tradition of the wooden gavel.
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