12. What Is Comparable Or “Comp Value”?

Simply stated, “Comparable Value” is a measurement of worth based on the selling price of a similar item. Oftentimes comparable or “Comp” values are sought to aid in determining the value of a vehicle. Comp values are attainable through various resources including, but not limited to local, regional and national print, Internet and by consulting sales professionals.

Category: Appraisals FAQ

← Faqs