This SPEC (Systems and Procedures Exchange Center) Kit presents the results of a survey of Association of Research Libraries (ARL) member libraries designed to investigate what methods are used to value or appraise research library collections, in order to provide librarians with information useful to them in discussing these issues with their administrative officers and risk management staff. A total of 52 of 124 ARL member libraries responded to the survey. A copy of the questionnaire with tabulated results is presented. Representative documents include: risk management and insurance documents from the University of California-Berkeley, University of Virginia, University of Wisconsin-Madison, and York University (Ontario); replacement cost calculation guidelines from the University of Alberta, University of California-Berkeley, University of Illinois at Urbana-Champaign, University of Manitoba, Michigan State University, University of Virginia, and York University; and gift valuation guidelines from the University of Illinois at Urbana-Champaign, University of Manitoba, University of Wisconsin-Madison, and York University. Contains a list of selected resources, including 19 books and articles and 4 Web sites. (MES)