This one is pretty obvious–it’s an appraisal performed for the purpose of determining the value of an item before it is insured. An appraisal is done when you insure a car, for instance, based on its age and condition and local market details. The same sort of an appraisal can be done on almost anything in order to have the most accurate insurance written for your possessions or investments.
Many people now collect as an investment and need to be insured in case of fire or disaster. They need to be more aware of value in an ever changing market.
Some investors need information on the value of an item before they will provide the financing.