Appraise/əˈpreɪz/ Definition 1 of 2Pro Tip 1/3Financial Context Often used when talking about the value of items, like jewelry or art. The painting was appraised before the auction. Pro Tip 2/3Expert Opinion An appraisal usually requires a specialist's knowledge to determine value. We called in a gemologist to appraise the diamonds. Pro Tip 3/3Formal Process Appraisals are formal assessments, often with legal or financial implications. Insurance claims may require an official appraisal of damage.