Appraisal 101

Whether this is your first appraisal or part of your ongoing annual business processes and controls, you have come to the right place. We have over 25 years of experience in equipment, finance and appraisal services and we can be a valuable partner for you.

Most common reasons to get an appraisal – corporate valuation, pre-sale, pre-purchase, pre-auction, financing/banking/lending, insurance/bonding, estate planning, 3 Ds (Death Divorce, Debt), 1031 exchange.

Appraisal Terms/Definitions

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, as of a specific date.

Orderly Liquidation

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.

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.

Salvage Value

Salvage value is an opinion of the amount, expressed in terms of money that may be expected for the whole property or a component of the whole property that is retired from service for possible use elsewhere, as of a specific date.

Scrap Value

Scrap value is an opinion of the amount, expressed in terms of money that could be realized for the property if it were sold for its material content, not for a productive use, as of a specific date.

FAQs

Why should you be my first call?

Simply put, we are: certified, specialized, experienced, timely and totally independent and we create value for you by ensuring that the benefit you receive far exceeds your cost.

What level of service is most appropriate for me?

It depends, what are you trying to accomplish? Let us know what you are looking to do and we will steer you to the most appropriate level of service.

I have an equipment list, what do you need to get started?

Generally, an equipment list must include: make, model, serial number and location. From there, we will assist in determined the service required and prepare an engagement agreement that must be completed prior to starting any appraisal on your behalf.

How long will it take you to complete my appraisal?

It depends on the scope of the job and the location of the equipment. Generally we can complete your desktop appraisal report within 10 business days of receiving your equipment list, signed engagement letter and the initial deposit. For a field appraisal, we can generally complete your report within 10 business days of our last site visit.

What are the limits of what you appraise?

The appraisal industry is broad. We can best serve our clients by focusing in an area where we can truly add-value. Therefore, we do not appraise: restaurants, real estate, marine, aircraft or food manufacturing equipment. Our scope is primarily focused on the following industries: construction, mining, forestry, aggregate, farming, material handling, trucking and transportation.

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"In late 2010, we conducted a full fleet appraisal for a mid-size regional contractor as part of their annual heavy equipment business valuation exercise. They were so pleased with the result that they have asked for us to conduct an annual appraisal. Several months later, they were able to use the appraisal with their financial institution (GE Capital) to renew their line of credit."