A more thorough explanation:

Apprize, verb. To determine the value or worth of something.

Before selling his car, John had it apprized by a professional to ensure he was getting a fair price.

The example illustrates the definition of apprize by showing how John had a professional determine the value of his car before selling it. This ensured that he was not selling it for too little or asking for too much. Apprizing is a common practice when selling or buying items to ensure that both parties are getting a fair deal.