Appraisal Retail Replacement Value

Build caller replacement scenarios from comparable stone, setting and restoration quotes with explicit currency/policy cost additions; not a professional appraisal, wholesale resale or guaranteed insurer valuation.

Description

Replacement scenarios can combine stone, setting and restoration quotations.

Replacement scenarios can combine stone, setting and restoration quotations. Currency conversion and additional-cost policy must be explicit for the total to be interpretable.^[1]

When to use Appraisal Retail Replacement Value

Use this tool to build caller replacement scenarios from comparable stone, setting and restoration quotes with explicit currency/policy cost additions; not a professional appraisal, wholesale resale or guaranteed insurer valuation.

Prepare the gemstone measurements, spectra or comparison data and any supplied calibration parameters. Check units, reference conditions and record alignment.

How to use Appraisal Retail Replacement Value and understand its results

Prepare the gemstone measurements, spectra or comparison data and any supplied calibration parameters. Check units, reference conditions and record alignment.
Enter comparableReplacementStoneQuotes, replacementSettingQuotes, restorationLaborQuotes, quoteCurrencyMultipliers, policyAdditionalCostFraction using the field table and calculation rules, then run the tool.
Read itemModeledReplacementValues, totalModeledReplacementValue. The explanation below defines the units, signs, ordering and any flags or placeholder values.
If the tool reports an input issue, correct the values and run it again. Apply the stated assumptions when interpreting a successfully returned result.

Input field	Meaning	Value type; see rules below	Requirement
comparableReplacementStoneQuotes	Comparable replacement stone quotes	list of number	Required
replacementSettingQuotes	Replacement setting quotes	list of number	Required
restorationLaborQuotes	Restoration labor quotes	list of number	Required
quoteCurrencyMultipliers	Quote currency multipliers	list of number	Required
policyAdditionalCostFraction	Policy additional cost fraction	number	Required

Pair nonnegative quote components with positive currency multipliers and a nonnegative policy addition fraction. Convert each aligned item to one currency basis and return item values and their sum.

Paired lists must be nonempty and have equal lengths.

item value=(stone+setting+labor) × currency multiplier × (1+additional-cost fraction)

Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.

Output field	Meaning	Value type
itemModeledReplacementValues	Item modeled replacement values	list of number
totalModeledReplacementValue	Total modeled replacement value	number

json

{
  "input": {
    "comparableReplacementStoneQuotes": [
      100,
      200
    ],
    "replacementSettingQuotes": [
      50,
      60
    ],
    "restorationLaborQuotes": [
      20,
      30
    ],
    "quoteCurrencyMultipliers": [
      1,
      2
    ],
    "policyAdditionalCostFraction": 0.1
  },
  "output": {
    "itemModeledReplacementValues": [
      187.00000000000003,
      638
    ],
    "totalModeledReplacementValue": 825
  }
}

Limitations and assumptions

The supplied scenarios are not a professional appraisal, resale estimate or guaranteed insurer valuation.

Numeric inputs and returned numeric values must be finite; an unrepresentable returned value produces an error. Numeric lists are limited to 100,000 entries; the rules above may require smaller limits. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors.

Alternative or Complementary methods

Use Insurance Schedule Value: Audit declared item and aggregate schedule limits against caller replacement inventories; no policy exclusions, deductibles, binding coverage or insurance advice are inferred. For a complementary task, use Rap List Discount Application: Apply caller supplied dated list quotation, negotiated discount, currency conversion and transaction tax; no proprietary Rap list publication, current rates or tax/legal compliance assumption.

References

Appraisal Retail Replacement Value — tool.io

Similar or alternative tools

Insurance Schedule Value
Audit declared item and aggregate schedule limits against caller replacement inventories; no policy exclusions, deductibles, binding coverage or insurance advice are inferred.
Rap List Discount Application
Apply caller supplied dated list quotation, negotiated discount, currency conversion and transaction tax; no proprietary Rap list publication, current rates or tax/legal compliance assumption.