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Part III: Fair Market Value Guidance List

International Society of Appraisers

If you believe auction and galleries have an equal number of sales, you must substantiate this with market data. Justify your market selection in a market analysis or reasoned justification. Use market data, including the number of sold sales in each marketplace. Explain to your reader (e.g.,

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What Does An Appraiser Do, Anyway?

Penrose Appraisals

Market research. It is only after learning about and considering all of these things that an appraiser can then turn to the market to make a determination of value. Of course, the market chosen will vary depending on the purpose of the appraisal. Appraisers are not simply walking around with valuations in their head.