What is a personal appraisal?
A personal appraisal is a professional valuation of personal property prepared for a specific purpose. It covers assets such as artwork, jewelry, collectibles, household contents, vehicles, or equipment.
The appraiser identifies the item, evaluates its condition, researches relevant market activity, and develops a value as of a defined date. The result is documented in a written report that explains the methodology and supporting evidence.
Personal appraisals are commonly used for:
- Insurance scheduling
- Estate and trust matters
- Divorce or equitable distribution
- Charitable contributions
- Internal planning
Unlike informal price opinions, a personal appraisal is meant to be relied upon. When the appraisal is used for legal, tax, or financial decisions, it should follow recognized professional standards and clearly disclose all assumptions and limitations.
Learn more about our personal property appraisals.