APPRAISAL 101 TOPICS
There are quite a few reasons to order an equipment appraisal: litigation and arbitration, financing and asset-based lending, estate planning, insurance and damage loss, business sales, property taxes, charitable donations, corporate planning, financial reporting and purchase price allocations, and many more. There are also different ways to approach any appraisal, including deciding the type of appraisal you need, and determining the appraisal “Definition of Value” that should be used.
On these pages, we hope to help you make an informed decision about your machinery and equipment appraisal. Some Frequently Asked Questions are listed below, with additional topics accessible from the links.
If you have any questions, please call us at 888-473-6237 or request a proposal.
Frequently Asked Questions
What types of machinery and equipment do you appraise?
We value equipment for a wide variety of equipment types and industries. Some examples of the industry groups we’ve worked in include agricultural and farm equipment, construction and heavy equipment; medical and hospital equipment; laboratory and scientific equipment; restaurant and catering equipment; cannabis industry equipment; food processing equipment; metalworking and CNC equipment; textile and dry cleaning equipment; retail store, bank and professional office equipment; auto dealerships and auto repair equipment; woodworking shop equipment, and much more, including entire manufacturing plants and production facilities. Even if we didn’t mention your industry’s equipment, we likely have experience appraising similar equipment.
Are your appraisals USPAP compliant?
All of our equipment appraisals comply with the requirements of USPAP, the Uniform Standards of Professional Appraisal Practice. These are the accepted standards for professional appraisal practice in North America. The 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), and business valuations.
Do you provide certified appraisals?
Our equipment appraisals include a signed certification of compliance with USPAP standards. For real estate, the appraiser must be licensed or certified in the state in which the property is located. No equivalent exists for machinery and equipment, so equipment appraisers hold professional designations instead. All our equipment appraisers are accredited by the American Society of Appraisers and meet the Internal Revenue Service (IRS) requirements for a qualified appraiser. See Do You Need a Certified Equipment Appraiser? for the full explanation.
What types of appraisal reports are there?
There are two types of equipment appraisal reports and many definitions of value that might apply. You can find out more about types of appraisal reports and definitions of value by visiting those respective pages on our website, or by calling us so we can review your situation to determine which type of report and which definition of value is applicable for you.