There are several types of appraisal reports available to clients.
The type a client needs is determined by the purpose for the appraisal.
Restricted Use Appraisal
Used when an owner needs to know a horses net value for insurance or resale.
Replacement Value Appraisal
Used for insurance purposes to accurately estimate the value of a horse. Can become a key component during an insurance claim. Often includes current and prospective value of the subject.
Full Summary Appraisal
A summary appraisal report includes extensive research on the horses background, bloodlines, riding discipline, show record, and foal records. A comparable analysis is used to determine the fair market value. These reports are bound and admissible in a court of law and include full color photos. Frequently used for loans, bankruptcies, divorces, tax donations and audits, estate planning and settlements and buying or selling. Most commonly done on a Sales Comparison Basis, similar to real estate.
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. Usually for federal agencies, police reports, or insurance claims.
Involves researching past markets to determine the value of a horse at some specific time in the past. Usually for the IRS or to justify other previously reported values.
Includes extensive research on the horses background, bloodlines, etc. plus a study of the general economic conditions and the horse world as a whole. These reports are bound and admissible in a court of law and include full color photos. This would normally be used in a case that could got to court where high stakes are involved and a very detailed, narrative explanation of how the value was arrived at is needed. This report type is very extensive but infrequently required.
Contact us to do your next Equine Appraisal job.