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Examples of Appraisal Report Types

The proprietary Sterling Equine Appraisals format is widely regarded as one of the most comprehensive, well documented appraisal reports in the industry. We set the standard for other firms to follow with innovative layouts, well written sections, audience appropriate language, and documented references.

There are several types of equine appraisals. The type a client needs is determined by the purpose for the appraisal.

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 litigation or the IRS, 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.

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.

 

If you still have questions, request a sample complete report by contacting us today.

 

Client Comments

Darla Bricker, Pennsylvania My attorney recommended Sterling. I needed to find out the market value of my 2 horses, miniature donkey, and miniature horse for a lawsuit. They were my pets and, in my eyes, a dollar amount cannot be attached to them. Sterling's appraisal of my animals was balanced - equally compassionate and technically excellent.   


Have a sense of humor?
Click to view our fun, Soprano's style video highlighting the value of a certified equine appraisal. It could be a "life or death" situation.

 

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