International Society of Appraisers
MARCH 14, 2025
When determining fair market value, we use the sales comparison approach to analyze comparable sales data (i.e., On the other hand, when determining replacement value, we use the cost approach to analyze comparable cost data (i.e., Replacement value also takes into consideration relevant costs associated with replacement.
Antiques Dealer
MARCH 10, 2023
Cost Approach This method determines the cost of replacing the antique item with a similar one. Items with a well-documented history or owned by famous people are generally more valuable than those without provenance. This method is often used for items common in the market and with a known value.
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Concept Appraisals
MAY 31, 2023
Understanding an Appraisal Report A USPAP-compliant Appraisal Report is a comprehensive document detailing an appraiser’s professional opinion of a property’s value. Approaches to Value : The appraiser uses one or more established methodologies to arrive at a property’s value.
Fine Art Estates
JANUARY 7, 2022
An insurance appraisal seeks to provide an estimated cost of what a collector would require to make the collector whole again if their art is ever damaged or stolen. In my organization (ISA), in order to become certified, one has to document 200 hours of appraisal-related experience in the last five years after becoming an accredited member.
Prime Appraisals
NOVEMBER 15, 2023
Valuation Methods: Appraisal professionals use various valuation methods, such as the sales comparison approach, income approach, or cost approach, depending on the property type and circumstances. Documentation: The appraisal report is a vital document for all parties involved in a real estate transaction.
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