CFR > Title 15 - Commerce and Foreign Trade > SUBTITLE B—Regulations Relating to Commerce and Foreign Trade > CHAPTER IX—NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION, DEPARTMENT OF COMMERCE (parts 902 to 996) > SUBCHAPTER A—GENERAL REGULATIONS (parts 902 to 918) > PART 904—CIVIL PROCEDURES > SUBPART F—Seizure and Forfeiture Procedures (§904.500 to §904.510) > 904.503—Appraisement.

904.503—Appraisement.

NOAA will appraise seized property to determine its domestic value. Domestic value means the price at which such or similar property is offered for sale at the time and place of appraisement in the ordinary course of trade. If there is no market for the seized property at the place of appraisement, the value in the principal market nearest the place of appraisement will be used. If the seized property may not lawfully be sold in the United States, its domestic value will be determined by other reasonable means.