The Appraisal Foundation in the Uniform Standards of Professional Appraisal Practice (USPAP) defines an appraisal as:

APPRAISAL:(noun) the act or process of developing an opinion of value; an opinion of value, (adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services.

Comment:  An appraisal must be numerically expressed as a specific amount as a range of numbers, or as a relationship(e.g., not more htan, not less than) to a previous value opinion or numerical benchmark (e.g., assessed value, collateral value). (USPAP)

I prepare my appraisal reports to USPAP standards.  In addition to the statement and definition of value, the type-written appraisal reports include photographs and a description of the appraised items, a summary of the materials used, name(s) of maker(s), design sources and pattern, date of fabrication, and any noteworthy details such as its exhibition history and awards, etc.  In the case of antique quilts date of fabrication will be determined using known provenance in conjunction with an assessment of the physical characteristics of the quilt. 

• To estimate your insurance replacement needs 
• To be compensated in case of loss, theft or damage
• To establish value when shipping quilts to shows or individuals
• To satisfy entry requirements for shows or competitions that require an estimate of value for their insurance purposes
• To establish appropriate asking prices for your quilts 
• To determine value for charitable donation, gift or estate purposes
• To include as a thoughtful addition for a quilt given as a gift
• To provide a record of your passion for quilts and quilting  for your family history
• To satisfy your curiosity