Use identifiers that make items findable
A useful collection record should distinguish similar items with a catalog number, serial/reference field, year, edition, or your own internal ID.
Separate purchase cost from estimated value
Estimated market value changes and may be subjective. Keep original cost and current estimate in different fields so gains are not confused with actual sale proceeds.
Track storage location and condition
For physical collections, location and condition can be more operationally useful than valuation. Consistent condition labels also improve later sorting.
No live appraisal is implied
OpenFileTools does not fetch auction, card, coin, comic, art or resale-market databases. Values are entered by you and should not be treated as certified appraisals.