An appraisal is a comprehensive professional evaluation of an artwork's monetary worth, conducted by certified art appraisers with extensive market knowledge and expertise.

The appraisal process involves meticulous examination of multiple factors, including the artwork's condition, artist reputation, historical significance, provenance, current market trends, and comparable sales.

Different types of appraisals exist for various purposes, such as insurance, estate valuation, donation documentation, or potential sale, each requiring nuanced understanding of art market dynamics and valuation methodologies.