Why are asset descriptions important in Covet?
Whether you use Covet's AI to capture descriptions of your assets or you manually enter them, getting the most accurate valuations and market insights for your assets and items depends on having the most accurate description of your asset.
Covet uses the description information in each asset in multiple ways:
- It finds initial description and value information using a photo of an asset which can be either taken by the user's phone camera or uploaded from their computer or other device.
- Once the initial description has been chosen by the user, that description is used again each day to re-evaluate market information and values.
The more accurate the description, the better the market information Covet returns initially and each day.
For this reason, Covet's AI photo capture feature can be thought of as a shortcut for initial population of asset information, but best practice is to evaluate those initial descriptions and change them based on particular information a user may have regarding it's condition, make, model, pedigree, etc. Note: if you are entering all of your asset information manually, the same holds true - describe as accurately as you can and you will receive better AI insights and valuations in the future.