Examining an object up close gives you a sense of the object's intrinsic value. Appraising an item takes at least one minute.
- Handling or physically inspecting an item lets you estimate its value to ±50Gp.
- Visually inspecting an item you can see clearly, but not touch, lets you estimate its value to ±100Gp.
Appraising an item lets you determine the value of an item's raw components (valuable ores, gems, etc.) and the quality of its craftsmanship. You don't know what merchants will pay or what the product is worth on an open market (due to rarity, etc.). Appraising only provides information about an object's physical properties, it cannot be used to estimate the value of magical enchantments.
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