appraise

Appraise is a verb that means to determine the value, price, or worth of something after careful analysis or inspection. It can also refer more broadly to assessing the quality, condition, or significance of an item or asset. The related noun is appraisal, and the professional who performs the valuation is called an appraiser.

Common contexts for appraising goods include real estate, where a property’s market value is estimated for transactions, financing, or taxation; insurance, where replacement cost or insured value is established; and the fields of art, antiques, jewelry, and collectibles, where provenance, condition, and market data influence value. In business and finance, appraisal may be part of valuation processes for sales, mergers, financial reporting, or investment decisions. The appraisal process typically combines physical inspection, data collection, and comparison with similar items (comparables), along with applying valuation approaches such as cost, sales comparison, or income methods, depending on the asset.

Appraise differs from apprise, a commonly confused word meaning to inform or notify someone. Both share similar spellings, but they have separate meanings. In usage, appraise is transitive and takes a direct object (e.g., to appraise a house, a piece of art, or a business). The noun form appraiser refers to the professional who conducts the valuation, while appraisal denotes the result of the valuation or the act itself.