An appraisal is a professional assessment of property to determine fair market value. Assessments are most often used for tax and insurance purposes or in estate planning or wills.

Being an appraiser is not an exact science, so it is essential for personal property appraisers to stay up-to-date in their profession by maintaining valid credentials with a professional appraiser association and engaging in regular continuing education. Additionally, it is important for appraisers to follow the strict codes of conduct and standards of report writing that are established for the profession.