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Based on this, the same exact object can have multiple values on the same day, depending on what level of the market one is evaluating. You may also see this level of the market described as “replacement cost,” which is a term used by the International Society of Appraisers.
Each type of value serves a specific need, and understanding these distinctions is essential for making informed decisions. Here, I’ll explain the four main types of value in jewelry appraisal— RetailReplacementValue , Fair Market Value , Marketable Cash Value , and Liquidation Value —and when each is used.
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