1. What is an appraisal?
An appraisal is the act of estimating cost, determining value, forecasting earnings, or providing a non-monetary opinion such as whether or not an item is genuine or fake using education and research, as well as adjustments. An Appraisal is not a precise measurement, nor a guess. It is a relative estimate (opinion) based on supporting facts.
2. What kind of appraisal do I need?
The most popular appraisal by demand is the Full Summary Appraisal report. These are the kind used for sales, insurance, IRS donations, etc. This appraisal is a summary of facts and supportive information of how much your equine is worth. These can be used in a court of law.
Another type of appraisal is the Restricted Use Appraisal. These can only be used by the client, and cannot be used in a court of law. The same research is conducted as in the Summary Appraisal, yet it is more limited and less detail. Restricted Use only requires information to be stated, not explained or summarized.
The most detailed oriented, and most rare appraisal is the Self-Contained Appraisal. This method requires the appraiser to explain in detail about how opinions and conclusions were formed.
3. Why would someone need a horse appraisal?
Prove your horse’s value!
More and more people today are needing to prove their horses value, whether it is for sales, litigation, insurance, and more. People need a professional horse appraiser who is compassionate and can advise in the proper process and procedures. Equine Appraisals of Texas is here to serve you!
4. How do you determine value of my horse?
Equine Appraisals of Texas evaluates the unique circumstances of each project and then applies the most appropriate method, as defined by the American Society of Equine Appraisers. The Sales Comparison method is most often used, and determines the “fair market value” of the horse.
5. What kind of horses do you appraise?
Equine Appraisals of Texas is a new business, starting in July of 2011. Cara Olson is certified, and is working on her Sr. Appraisal status. As of right now, Equine Appraisals of Texas is focusing on Performance Show horses, Including Quarter Horses, Paints, and Appaloosas in all show disciplines including Western and English All-Around, Reining, Cutting, and more!
