Appraisers normally make distinctions among the terms value , price , and cost .
Value , for appraisal purposes, is commonly defined as the monetary worth of a property, good, or service to buyers and sellers at a given time. For common stocks, bonds, financial instruments, and commodities that are listed on free and open exchanges and have thousands of trades every day, cost, price, and value are essentially the same thing and can be readily determined almost instantaneously. The shares of private companies and individual mineral properties, mineral interests, and mineral production royalties, on the other hand, are very infrequently traded and the actual selling price may not be readily available or easily determined. Mineral Business Appraisal's Principal Appraiser is a qualified mining geologist, and by its very nature, the appraisal of mineral properties and the valuation of mining businesses requires a material and significant application of and reliance on geologic, mining, mineral processing, and mineral product markets research, knowledge, and experience, in addition to conventional real estate appraisal and business valuation knowledge and experience. All rights reserved.