79.15.055 - Appraisal -- Defined.

Appraisal — Defined.

For the purposes of this chapter, "appraisal" means an estimate of the market value of valuable materials. The estimate must reflect the value based on market conditions at the time of the sale or transfer offering. The appraisal must reflect the department's best effort to establish a reasonable market value for the purpose of setting a minimum bid at auction or transfer. A purchaser of valuable materials may not rely upon the appraisal prepared by the department for purposes of deciding whether to make a purchase from the department. All purchasers are required to make their own independent appraisals.

[2004 c 199 § 214; 2003 c 334 § 309; 2001 c 250 § 10. Formerly RCW 79.01.082.]

Notes: Part headings not law -- 2004 c 199: See note following RCW 79.02.010.

Intent -- 2003 c 334: See note following RCW 79.02.010.