This category is the least utilized and most beneficial valuation of all. Couples often use bills of sale or original costs for furnishings, art, carpets, antiques, etc. as an inexpensive and quick means to an end. However, Dissolution of Marriage appraisals are based on marketable cash which is the net value anticipated, in hand, after selling the objects. This is a very different value than the original purchase price which is usually retail--the highest price. Likely the difference can be as much as 75-95% less in value, so spouses may end up with a fraction of the value of the assets if an appraisal is not performed.
Sometimes this type of appraisal is performed merely to establish which assets were inherited, or acquired prior to marriage, precluding the object from dispute.
True Story: Clients are divorcing and one spouse had been gifted many Modern artworks from a parent and had to identify which pieces for dissolution. The client produced a previous gift appraisal documenting provenance. The disputing spouse had demanded half of the collection. Had there not been clear title transfer via a gift appraisal and subsequent dissolution appraisal, establishing provenance, the client could have had to split the collection.