You use the word appraise when you want to describe evaluating the value or condition of an item or property. This act of assessment usually requires some expertise and often results in a written appraisal report. It's a key term in businesses dealing with goods of substantial value, such as art, real estate, and antiques.

The word apprise is used when referring to the act of informing or updating someone about a situation or set of facts. It implies a formal or official communication, often between colleagues or departments within an organization, but can also happen in personal contexts where informing someone is crucial.

While appraise and apprise may be mistaken due to their phonetic similarities, their meanings are quite distinct. Appraise is the process of estimating the value of an object or idea, often requiring expertise. Apprise, however, is about informing someone, keeping them updated about events or changes. Remembering these nuanced differences is key to using the words appropriately in both professional and personal contexts.