The Influence of Rarity and Demand on the Value of Personal Property
July 3, 2023
Personal property is an asset that has been acquired and owned by an individual. Its value can be determined by the factors of rarity and demand, which are influenced by the market. This article will explore what personal property is, how rarity and demand can affect its value, and how appraisal professionals can accurately evaluate the rarity and demand of personal property. Additionally, the article will discuss key indicators and special traits of highly valuable personal property, and differences between appraising personal property versus real estate.