"setting of a price, valuation," by 1784, American English, from appraise + -al (2). The figurative sense of "act of appraising" (originally a term of literary criticism) is from 1817. Appraisement is earlier (1640s).
c. 1400, appreisen, "to set a value on," from stem of Old French aprisier "appraise, set a price on" (14c., Modern French apprécier), from Late Latin appretiare "value, estimate," from ad "to" (see ad-) + pretium "price" (see price (n.)). The original English spelling, also apprize, was altered by influence of praise. Related: Appraised; appraising.
suffix forming nouns of action from verbs, mostly from Latin and French, meaning "act of ______ing" (such as survival, referral), Middle English -aille, from French feminine singular -aille, from Latin -alia, neuter plural of adjective suffix -alis, also used in English as a noun suffix. Nativized in English and used with Germanic verbs (as in bestowal, betrothal).