How do you arrive at value conclusions?

Appraisers interpret market data based on the intended use of the appraisal report. Very often, values are determined by using the “sales comparison approach,” one of three approaches to value. This involves comparing an object with similar items that are sold within a specific market that is considered to be the most common for that item.  Various markets are considered and recent sale prices are reviewed.  Quality, condition and desirability are also considered as these elements affect value conclusions. A number of resources are used that may include sales at local, regional or national auction houses, used furniture and consignment shops, antique stores, galleries, retail stores, specialty dealers and subscription internet databases.