Dictionary

Letter of Authenticity (LOA): A written document stating the originality of a property as established by an expert in the field.

liquidation value: The net cash received from an orderly or forced piecemeal sale of a property or business.

major auction liquidation market level: The resulting price level for an item, including premiums from the buyers and sellers at larger auctions.

market comparison approach: Method of valuation based on the prices of other properties sold in a given location.

minor auction liquidation market level: The resulting price level for an item, including buyer and seller premiums in regional or small market auctions.