Appraisals are formal assessments or valuations of something's worth, quality, or performance. They involve a systematic examination, often against established criteria or standards, to determine a value, a level of proficiency, or the overall suitability for a purpose. These evaluations are conducted in various contexts, ranging from real estate to employee performance and art valuation, and are often critical for decision-making, setting prices, or recognizing achievements. The process usually involves gathering and analyzing relevant data and producing a documented conclusion. appraisals help in informed decision-making by giving insight into something's value or merit.
Appraisals meaning with examples
- The homeowner hired a professional to conduct real estate appraisals, determining the fair market value before putting the house up for sale. The detailed report considered recent property sales, location, and the house's condition. This assessment was crucial for accurately listing the property price and attracting potential buyers, thus maximizing the sale's profitability and facilitating a successful transaction.
- Employee performance appraisals are carried out annually to evaluate job performance and career progression. The manager reviewed the employee's work output, communication skills, and adherence to company policies during the evaluation. Results of the process can inform decisions on promotions, salary adjustments, and identify areas for improvement.
- During the art exhibition, art appraisals were conducted to assess the value and authenticity of the collection. Experts carefully examined each artwork's provenance, artistic technique, and historical significance to determine its market value. This process protected both the buyers, and the artist by assuring that all factors involved were assessed.
- Financial institutions require independent appraisals of assets like jewelry or antiques to verify their values before providing a loan. These appraisals safeguard the lender's investment by confirming the asset's market worth, particularly if the borrower defaults on the loan. Detailed evaluations serve as collateral ensuring that the asset's estimated worth is accurately recognized.
Appraisals Synonyms
assessments critiques estimations evaluations inspections judgments reviews valuationsAppraisals Antonyms
disregard disregards ignores neglects overlooksAppraisals Crossword Answers
11 Letters
EVALUATIONS ASSESSMENTS