Definition of appraise
1 : to set a value on : to estimate the amount of appraise the damage
2 : to evaluate the worth, significance, or status of; especially : to give an expert judgment of the value or merit of appraise an actor's career
appraiseeplay \ə-ˌprā-ˈzē\ noun
appraisementplay \-ˈprāz-mənt\ noun
appraisinglyplay \-ˈprā-ziŋ-lē\ adverb
appraisiveplay \-ˈprā-ziv\ adjective
Examples of appraise in a Sentence
The ring must be appraised by a jeweler before it can be insured.
appraise the house and property
What is the property's appraised value?
In the book, he appraises Hollywood's recent films and contrasts them with several independent films.
Recent Examples of appraise from the Web
Both President Dwight D. Eisenhower and Premier Khrushchev positively appraised their first meeting in 1959.
The 9,3666 square foot building was appraised in 2016 at $582,900, less than half its selling price.
Outside the country estate sits a detatched apartment unit appraised separately from the main home by the Harris County Appraisal District at $342,913.
A Sun City, Arizona, man was clearing out his house and preparing to move into a retirement home when a neighbor suggested he get his signed 1992 Lakers poster appraised.
The property has been appraised at about $1.5 million, Strong said, and recently received a $400,000 investment on a new heating system.
A certified appraiser will be available to appraise visitors' quilts during the show Friday and Saturday.
The startling realization of the ring's true value came decades later, when the wearer chose to have the ring appraised by a local jeweler.
Nationally known antiques and art appraiser Todd Peenstra will be available to appraise and consult on items (except books or stamps) at a cost of $5 per item for LHS members and $10 per item for non-LHS members.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'appraise.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Origin and Etymology of appraise
Middle English appraysen, probably from Anglo-French *appreiser, from a- (from Latin ad-) + preiser to prize, praise
First Known Use: 15th centurySee Words from the same year
Synonym Discussion of appraise
Financial Definition of APPRAISE
What It Is
An appraiser is a person capable of providing an appraisal.
How It Works
An appraisal is a document that formally describes the value of a piece of property, usually exceeding $5,000. For example, let’s imagine that John Doe wants to donate a painting to his favorite charity. He believes the painting is worth $20,000. Instead of simply putting a $20,000 deduction on his tax return for the year, John Doe hires an appraiser to determine how much the painting is worth. A qualified appraiser provides an independent estimate, putting the value of the painting at $22,000. John Doe files IRS Form 8283 with his tax return and deducts $22,000.
Although almost anybody can estimate the value of goods or services, the IRS has very strict guidelines about who can be a "qualified appraiser." Among other things, the appraiser must have a professional appraiser designation from a national appraiser organization, perform appraisals regularly, meet certain education requirements and meet other guidelines as the IRS deems necessary. In many cases, a qualified appraiser can’t be the donor, the donee, anyone party to the acquisition of the property, or an employee or relative of anyone involved.
Appraisers charge a fee for appraisals, though for qualified appraisers, the fee cannot be based on or a percentage of the value of the property appraised. The cost of the appraisal itself is also not deductable as a charitable contribution, though it might be deductible elsewhere depending on the donor’s tax situation. Sometimes charities pay the appraisal fee, but some types of charities are restricted from doing so.
Why It Matters
For many securities, the market is a natural appraiser—it dictates the value of securities on an almost instantaneous basis throughout the day. But for less liquid things, such as houses, old cars, pieces of art, or ownership positions in private companies, it’s harder to decide what those things are worth. And in many cases, the value of an asset determines the price of a transaction or the size of a tax bill.
Accordingly, misleading asset pricing can also be a way to engage in tax fraud or lopsided deals. That’s why the IRS requires people who want to deduct certain large charitable donations to obtain qualified appraisals for those items. The IRS can impose penalties of 40% for a gross misstatement of a donation (and even a 20% penalty for just a “substantial” misstatement), and it can also penalize the appraisers involved in the misstatement.
APPRAISE Defined for English Language Learners
Definition of appraise for English Language Learners
: to say how much something is worth after you have carefully examined it : to give an official opinion about the value of (something)
: to give your opinion about the condition, quality, or importance of (something or someone that you have studied or examined)
APPRAISE Defined for Kids
Definition of appraise for Students
: to set a value on appraise a diamond
Legal Definition of appraise
: to estimate the value of : make an appraisal of
Seen and Heard
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