International Society of Appraisers

MARCH 14, 2025

Replacement cost comparable is the cost necessary to replace an item of personal property with an equivalent item having similar appearance, quality, condition, age, authorship, and utility within a reasonable amount of time in the relevant marketplace. Note that the definition of replacement cost comparable mentions age.

Appraiser/appraisal 52

Appraiser/appraisal Market Value Appraisal Reports Hypothetical Condition 52

Artifactual History Appraisal

SEPTEMBER 17, 2019

While it might be possible to scour the auction market for years searching for an offering similar to the lost item and then obtain that item at a much lower price, this is not the function of insurance coverage. Actual Cash Value is Retail Replacement Value minus depreciation, which can be a deduction made for age, damage, or another factor.

Retail Replacement Value 130

Retail Replacement Value Appraiser/appraisal Appraisal Reports Market Value 130

Fine Art Estates

JANUARY 7, 2022

For instance: Replacement Cost Value is used when a collector needs an appraisal for insurance coverage. Condition is the very first thing I look for when inspecting a work! The condition of a work plays a large part in the final value assignment.

Appraiser/appraisal 130

Appraiser/appraisal Insurance Antiques and Decorative Arts Market Value 130