There are several
types of equine appraisals.
The type a client needs is determined by the purpose for the
appraisal.
The proprietary Sterling
Equine Appraisals format is widely regarded as one of the most comprehensive, well
documented appraisal report in the industry. We set the standard for other firms to follow
with innovative layouts, well written sections, audience appropriate language, and
documented references.
Please
be advised: Your own research may not be a substitute for the type of formal
analysis and appraisal that can come from a qualified professional appraisal service. In
addition, you should know that appraisal results will vary according to the intended
purpose of the appraisal.
The two most
common purposes for appraisal are “Fair Market Value” (the value typically
applied to the donation of a horse to a qualifying non-profit institution), and
“Replacement Value” (which is typically required for insurance purposes - though
not widely accepted under most circumstances).
But there
are various other types of appraisal purposes, each with their own appropriate
corresponding methodologies. Only a written report prepared by a qualified professional
appraiser may serve as a legal document.
Summary
Appraisal |
| Summary appraisals are most
common and are considered the most acceptable for general valuation of horses. Frequently used in buying, selling or court, a summary appraisal is prepared for and restricted to a specific
user and purpose. It cannot be used for another client or to value the horse under
different circumstances or at a different time. Most commonly done on a Sales Comparison Basis,
similar to real estate, it requires analyizing data in various formats for determination
of Fair Market Value (FMV). (sample)
In the case of a deceased or lost horse,
this appraisal assumes facts that would ordinarily be obtained through the physical
inspection of the equine. These
assumptions are documented as hypothetical conditions. Usually for federal agencies, police reports, or insurance claims. (sample)
|
| Preliminary
Appraisal |
| Usually for insurance purposes. Often includes current and prospective value of the subject. |
| Retrospective
Appraisal |
| Involves researching past
markets to determine the value of a horse at some specific time in the past. Usually for
the IRS or to justify other previously reported values. (sample) |
| Self-Contained Appraisal
|
| Includes all relevant data
plus a study of the general economic conditions and the horse world as a whole. This
report type is very extensive but infrequently required. |
ACTUAL
REPORTS ARE PROVIDED AS EXAMPLES ONLY. THEY MAY NOT BE MODIFIED OR REMOVED FROM THIS SITE
IN ANY WAY. BY SELECTING TO VIEW THESE REPORTS, YOUR IP ADDRESS WILL BE CAPTURED AND
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Thank
you! |
