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Types of Appraisals


Insurance Appraisal

(Replacement Value Appraisals) Most appraisals done today are for “replacement value”. The appraisal will be written with insurance replacement (retail cost replacement) as the guiding factor for insuring an item and the cost of replacing that item if it is lost or stolen, with a similar item, from a jewelry store that regularly sells that type of item being appraised and insured.



Fair Market

An opinion, expressed in terms of money, at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts, considering removal of the property to another location, as of a specific date.



Liquidation Value

These appraisals reflect low values due to their situations, such as an immediate need to sell due to divorce, probate or loan collateral appraisals, etc.   Values can be estimated at wholesale or below wholesale levels.


Hypothetical Appraisals

An extraordinary assumption is an assumption which if found to be false could alter the resulting opinion or conclusion. A hypothetical condition is an assumption made contrary to fact, but which is assumed for the purpose of discussion, analysis, or formulation of opinions. Most often used post loss.



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