# Appraisal

> A professional opinion of an object's value, given by a specialist for a specific purpose: sale at auction, insurance, division of an estate or tax. Auction estimates are one kind of appraisal.

- URL: https://www.selloff.auction/glossary/appraisal
- Language: English
- Also known as: Valuation, Expert valuation
- Last updated: 2026-10-07
- Français: https://www.selloff.auction/fr/glossaire/expertise.md

## Definition

A professional opinion of an object's value, given by a specialist for a specific purpose: sale at auction, insurance, division of an estate or tax. Auction estimates are one kind of appraisal.

The purpose matters: an insurance valuation usually reflects replacement cost, while an auction appraisal reflects the likely hammer price. Appraisals are often the first contact with a future consignor, which is why houses track and follow them up.

In Selloff, an appraisal is recorded against the client together with the lots concerned, can name a representative such as an heir or a notary, and can be invoiced at a fixed fee or by the hour.

## Related features

- [Appraisals](https://www.selloff.auction/features/appraisals.md): Record appraisals at the counter or on site, describe and photograph lots, bill a fixed or hourly fee and move accepted lots into inventory.

## Related terms

- [Estimate (low and high)](https://www.selloff.auction/glossary/estimate.md): The auction house's opinion of the likely hammer price of a lot, usually published as a range from a low to a high estimate. It is a guide for bidders, not a guaranteed price.
- [Estate sale](https://www.selloff.auction/glossary/estate-sale.md): The sale of objects from a deceased person's estate, often an entire household or collection, on behalf of the heirs or an executor. The auction house handles valuation, sale and settlement.
- [Consignment](https://www.selloff.auction/glossary/consignment.md): The act of entrusting objects to an auction house to be sold on the owner's behalf and, by extension, the group of lots entrusted by one consignor under the same terms. The consignor remains the owner until the sale.