What types of machinery and equipment do you appraise?

We have conducted appraisals for hundreds of individuals and companies. Some examples of the industries we appraise include: construction equipment, medical equipment, restaurant and food processing equipment, textile and dry cleaning equipment, retail stores, banks and professional offices, auto dealerships and auto repair, machine, metalworking and woodworking shops, and much more, including entire manufacturing plants and production facilities. Even if you don't see your equipment on this list, it is likely that we have experience appraising similar equipment.

Are your appraisals USPAP compliant?

All of our appraisals comply with the requirements of USPAP, the Uniform Standards of Professional Appraisal Practice. These are are the generally accepted standards for professional appraisal practice in North America. These standards are written by The Appraisal Foundation, an organization authorized by the U.S. Congress as the source for national appraisal standards and qualifications. USPAP contains standards for all types of appraisal services, including real estate, personal property (including machinery and equipment), business valuations.

Do you provide certified appraisals?

For real estate, the appraiser must be licensed or certified in the state in which the property is located. For machinery and equipment appraisers, there is no certification. All our appraisers must be accredited by the American Society of Appraisers. To be accredited, our staff must pass ASA's rigorous requirements, including completing series of valuation courses, an ethics exam, a USPAP course and have multiple years of experience in the appraisal field. In addition, all our our appraisers must meet the requirements by the Internal Revenue Service (IRS) for qualified appraisers.

What types of appraisals are there?

There are two types of appraisal reports, and many definitions of value that might apply. You can read more on our website about the types of reports and the definitions of value, or call us and we can review your situation and determine which type of report and which definition of value is applicable for you.

There are a number of definitions of value regularly used by a machinery and equipment appraiser. The types of value below are the ones used most frequently. Most frequently used definitions are based on the official definitions published by the American Society of Appraisers' Machinery and Technical Specialties committee in August 2010, except as otherwise noted.

Additional special purpose definitions are used for some accounting, insurance and condemnation appraisals, including Replacement Cost New, Reproduction Cost New, Salvage Value, Scrap Value, Actual Cash Value and a number of others. Which definitions should be used for each appriasal varies, depending on applicable laws and client needs.

Fair Market Value

Fair Market Value is an opinion expressed in terms of money, at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.

This is considered synonymous with "market value" and is based on the Internal Revenue Service definition in IRS Revenue Ruling 59-60 and the following U.S. Regulations: 26 CFR 1.170A-1 - Charitable Donations, 26 CFR 20.2031-1(b) - Estate Tax, and 26 CFR 25.2512-1 - Gift Tax.

Typical uses: Bank loans & financing, sales of assets, charitable donation, property (ad valorem) taxes, insurance, estate planning.

Orderly Liquidation Value

Orderly Liquidation Value is an opinion of the gross amount, expressed in terms of money, that typically could be realized from a liquidation sale, given a reasonable period of time to find a purchaser (or purchasers), with the seller being compelled to sell on an as-is, where-is basis, as of a specific date.

This premise of value reflects the sale of an asset by a motivated seller after an adequate marketing period to sell the property.

Typical uses: Bank loans & financing, property transfer, insurance.

Forced Liquidation Value

Forced Liquidation Value is an opinion of the gross amount, expressed in terms of money, that typically could be realized from a properly advertised and conducted public auction, with the seller being compelled to sell with a sense of immediacy on an as-is, where-is basis, as of a specific date.

Typical uses: Bank loans & financing, property transfer, insurance, business liquidation.

Fair Value

Fair Value is the price that would be received for an asset or paid to transfer a liability in an orderly transaction between marketplace participants at the measurement date. (Definition per FASB Statement No. 157 Fair Value Measurement, Paragraph 5 as referred to in FASB Statement No. 141r Business Combinations, Paragraph 3. b. and SFAS No. 142, paragraph 23).

Typical uses: Purchase price allocation, financial reporting.