To determine the value of personal property, the first step is for you to let an appraiser know the purpose for the appraisal.  A professional appraiser will give you different data depending upon your purpose.  For example, an item (whether a rare book or your home) will be expected to bring a different amount depending upon whether you want to sell that item THAT DAY or wait for the right buyer and the right time to get a higher price.  Also, value for purposes of insurance is almost always higher than liquidation.  Fair Market Value is in the middle and considered to be what is the most reasonable, true value of any personal property. 

Appraisals done by Book Grading Service are based on the combined analysis of four separate criteria:

1. Authentication
When dealing with collectibles, the first step is verifying that the item is authentic. This is especially true for books and autographs. Is the book a true first edition, or a book club edition? Is the dustjacket original, or a replica? Authentication is the first, and probably the most important step in determining a books worth.

2. Condition/Grade
The next step our appraiser take is to closely examine the actual physical condition of the book. Pages torn or missing? Is the dustjacket torn, stained, or even there at all? Have the pages been written on? Dog-eared? Highlighted? All affect a books value, and are taken into account in this step.

3. Purpose of Appraisal
Why you want the appraisal also has an effect on the final outcome:

Liquidation Value is what the book would be expected to bring in immediate sale. This is the amount we feel the book would bring at a bare minimum, if it had to be sold right this minute. This is the lowest valuation, and is not recommended unless absolutely necessary.

Fair Market Value is the price agreed on between a willing buyer and a willing seller, neither being required to act, and both having reasonable knowledge of the facts.

Insurance Value  is the most often requested valuation, and the one BGS recommends. This is the valuation that reflects the truest value of the item in terms of replacement expense. 

4. Comparables

The final step in the appraisal process is to research what comparable items are selling for currently. This includes completed transactions, auctions, and  current asking prices.