On another uselessly interesting note–I made an observation this week.
Real estate appraised values are lower on average than the market value. In contrast, my dad (the 30-year veteran of jewelry sales) says the purchase price in his business is always lower than the appraised value.
My theory is that there’s an incentive for homeowners to to have a home that appraises lower. Because that also means lower taxes. But in jewelry, you want it to appraise higher because if it gets stolen or lost, you get insurance on the appraised value. What are your theories for this phenomenon? Share in the comments below.
This post will not make you smarter or put more money in your pocket (sorta like dogs in toupees). I just think it’s interesting. Do you?
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