Like its verbal counterpart, it also takes account of the instrument's physical condition as of the date of appraisal. Appraisers Appraisals favorably received by the Internal Revenue Service and the courts are written by appraisers held in good standing by various appraisers' associations. Insurance companies, in particular, tend to accept appraisals written by almost any seller of violins or bows. Fees for appraisal are often based on the established value or price of the appraised violin or bow. The higher the evaluation, the bigger the appraiser's charge.
Insurance companies profit because high appraisals translate into high premiums .
A written appraisal done for an insurance company specifies a dollar value. This is never the amount a private buyer would or should pay. Fair Market or Cash value appraisals come closer to the wholesale price of an instrument or bow.