“I just want to know what it’s worth.” This is a common response when people call for an appraisal of an item. What is worth? The dictionary defines “worth as material value, esp. as expressed in terms of money or some other medium of exchange.” Appraisers estimate value. Therefore when a client says they want to know “what it’s worth”, what they really are saying is “what’s it’s value”. The next question is, “Why do you want to determine this value?” There are a number of reasons for an appraisal including selling the item, insuring the item, donating the item, etc. The purpose of the appraisal determines the type of value used. It may be fair market value for an estate. Insurance replacement value for insurance. It may be market value for what something is selling for in the current market. Be prepared when you call to state specifically why you want an appraisal. It’s the first step to “determining worth”.