Have you ever wondered how much Harry Potter’s famed Hogwarts School of Witchcraft and Wizardry would be worth in the real world?
What would a real property appraisal reveal about its value?
And how would a real property appraiser go about appraising it?
(Especially given that our muggle-born appraiser couldn’t even see it in all its glory.)
Well, we asked an appraiser to do just that. And the result is fascinating.
Here's a peek at the highlights in our appraiser's own words.
Notable Features Affecting Hogwarts’ Value
Unique Living Quarters
Four dormitories collectively accommodate all Hogwarts students, each representing its own "House" — Gryffindor, Ravenclaw, Hufflepuff, and Slytherin, all established thousands of years ago.
Each dormitory includes several in-house living amenities unique to a magical school, such as:
- Separate girls’ and boys’ dorms furnished with four-poster beds, dressers, and desks
- Sizable common lounge areas furnished with couches, tables, and fireplaces
- Upgraded stone walls, wood flooring, and quality decorative touches consistent with each “House” theme
- Secure secret entrances accessible only to members of each dormitory “House”
It should be noted that each dormitory has intangible value to the founders of each House. This means there is value of non-physical assets tied to physical assets. Intangible assets might include brand recognition, trademarks, trade names, copyrights, patents, and particularly, goodwill (the value of name and reputation).
Each House incorporates goodwill through a series of identifying intangible characteristics that member students embody. These include:
- Gryffindor House – Founded by Godric Gryffindor to value the intangible characteristics of courage and commitment to cause.
- Ravenclaw House – Founded by Rowena Ravenclaw to value the intangible characteristics of thought-scholarship and intellectual brilliance.
- Hufflepuff House – Founded by Helga Hufflepuff to value the intangible characteristics of hard work, tolerance, and loyalty.
- Slytherin House – Founded by Salazar Slytherin to value the intangible characteristics of self-sufficiency, cunning, resourcefulness, and ambition.
Both business and personal property appraisers were consulted on the value of these intangible assets.
We estimate that the living quarters make up 25% of the total value of Hogwarts.
Sophisticated Security System
An extensive security system protects the Hogwarts facility, grounds, staff, and students from threats.
In addition to its “charmed” feature designed to ward off muggle visits, there is an elite group of protective spirits – aka ghosts – guarding each dormitory and the school grounds. These beings include:
- Nearly Headless Nick (Gryffindor House)
- The Grey Lady (Ravenclaw House)
- The Fat Friar (Hufflepuff House)
- The Bloody Baron (Slytherin House)
- Peeves (Castle Grounds)
The protective spirits roam each dormitory and the castle around the clock, thwarting threats and ensuring the safety and integrity of the school, similar to a private security staff.
Additional security features contributing to value include:
- Numerous magical spells prevent unlawful access to dorms, secret rooms, staff quarters, etc.
- Dormitories are accessible only by password, riddle, or series of tapping (in the case of Hufflepuff House) - all functioning like a hardwired security system
- A rigidly protective "Whomping Willow" – designed to attack anything or anyone that disturbs it – situated on the school grounds. This willow tree was strategically planted to conceal the entrance to the Shrieking Shack and the link to the nearby supply route of Hogsmeade village. The tree functions much like a 24-hour guard house with private security detail in a high-end gated community.
We estimate that the extensive security system makes up 10% of the value of Hogwarts.
External Obsolescence Noted
Azkaban Prison, which sits within proximity to Hogwarts School, is considered external obsolescence. This indicates depreciation due to external factors such as environmental, social, or economic developments. USPAP Standards 1-3 require that appraisers support this conclusion with evidence in appraisal reports.
Factual evidence supporting our conclusion include:
- Former prisoner Sirius Black escaped Azkaban using a direct route to Hogwarts to find student Harry Potter.
- Azkaban "Death Eaters” – "pure-bloods" who practice the Dark Arts – freely travel to and from Hogwarts in minutes using secret passageways.
- Since most of Azkaban’s prisoners are Death Eaters, they present a threat to the large population of "half-blood" Hogwarts students.
These factors may affect enrollment and income.
We estimate that external obsolescence reduces the value of Hogwarts by as much as 20%.
Professional Opinion of Hogwarts' Value
Hogwarts is, essentially, a marvel of space and time. It defies known rules of logic, physics, mathematics, and reasoning. It was difficult, but we were able to find some comparable properties in the nearby countryside. These comps helped us form a valuation using the sales comparison approach to value to the best of our muggle abilities.
Based on structural value as well as inherent personal and intangible property value, the appraised value* of Hogwarts School of Witchcraft and Wizardry is:
- Real Property: € 2.2 million or $2,348,918
- Personal Property: € 4.5 million or $4,804,605
- Intangible Property: € 5.5 million or $5,872,295
For summary purposes and market considerations, our total estimated opinion of value of Hogwarts School of Witchcraft and Wizardry is € 12.2 million or $13,025,818.
*Value in Euros/Dollars as of 9/20/23
Fully detailed reports from each appraiser consulted will be referred, as is required by the Uniform Standards of Professional Appraisal Practice, or the USPAP.
We also recommend that a suitable “magical property appraiser” from the Ministry of Magic (if this role exists) be consulted.
How Did We Get an Appraisal of Hogwarts?!
Three appraisers worked together to appraise this subject property. Our evaluation complies with the USPAP regulations across the major appraisal disciplines of:
- Real property valuation
- Personal property valuation
- Business and intangible valuation
When performing property research, we relied on property records, the enchanted Marauder's Map, videos, and a personal interview with Headmaster Albus Dumbledore. It’s important to note that this appraisal is subject to the very “extraordinary assumption” that the Marauder’s Map is reflective of the current physical characteristics of the subject property.
As a reminder, the Marauder’s Map is the detailed, real-time view into the Hogwarts property. It shows the dorms, classrooms, staff areas, and secret passages. We will not disclose how we “found” this resource. But...“we solemnly swear we are up to no good.”
Desktop (Virtual) Appraisal Method Used
The scope of this appraisal was originally meant to be a hybrid appraisal. This means part of the appraisal would have taken place in person and another part virtually. Our in-person inspection of Hogwarts was meant to be performed by our contracted property data collector.
It was later discovered, however, that the property is “unplottable” and its location “charmed” with otherworldly security measures, rendering it to appear as ruins to muggles like us. Our property data collector (also a muggle) was also unable to view the property as it could only be viewed by what they call half-bloods and pure-bloods.
Therefore, we used the alternative method of desktop appraisal from the comfort of our offices in the non-magical world.
What Do You Think?
Do you agree with our appraisers? Or would you have assessed things differently? Leave us a comment with your thoughts!
And stay tuned – in an upcoming blog, our appraiser will tackle a non-magical house (as far as we know) back in muggle world, sometimes referred to as "the People's House." Any guesses?
Learn More About Appraisal With The CE Shop
Do you have a passion and appreciation for real estate of all types (even magical castles)? A career in real property appraisal might be up your (Diagon) alley. Learn more about appraisal in our Appraisal Essentials blog. Or check out our appraisal qualifying education and CE courses in your state.
Comments