The Collaborative International Dictionary of English v.0.48:

Appraisal \Ap*prais"al\, n. [See Appraise. Cf. Apprizal.]
   A valuation by an authorized person; an appraisement.
   [1913 Webster]

WordNet (r) 3.0 (2006):

appraisal
    n 1: the classification of someone or something with respect to
         its worth [syn: appraisal, assessment]
    2: a document appraising the value of something (as for
       insurance or taxation) [syn: appraisal, estimate,
       estimation]
    3: an expert estimation of the quality, quantity, and other
       characteristics of someone or something