Equipment and Machinery Appraisers, Appraisals

machinery and equipment appraisals and liquidation valuations

Machinery and Equipment Appraisals

What to look for in a Machinery and Equipment Evaluation:

machinery and equipment appraisals The description of the assets should be as precise as possible, listing the manufacturer, model number and serial number with accurate descriptions of size capacity, travels and most important accessories.

An appraiser's first responsibility is to his client. However, he also has a fiduciary responsibility to third parties. These third parties may or may not be known, but they have as much right to rely on the report as does the client.

Without precise accurate descriptions, it is difficult, if not impossible, for say a third party appraiser to review and confirm or dispute the accuracy of the report.

Appraisers are constantly asked by financial equipment appraisals groups to review other appraiser's work. Without clear accurate descriptions of the assets, it's difficult to provide them with accurate opinions of the work.

The cover letter should contain a clear definition of the value concepts used, fully explaining and describing what is meant by the particular value determined, and the method that was used in arriving at the values reported. A statement of the objective for which the report was performed, and if required, make recommendations for action that would be different from what was asked for.

All of the professional appraisal societies promulgate principles of appraisal practice and codes of ethics. A good appraisal report will comply with their guide lines.

The American Society of Appraisers, a leader among professional appraisal societies, publish a comprehensive set of specific codes of ethics developed to confirm with the Uniform Standards of Professional Appraisal Practice. Copies can be ordered from the:

Appraisal reports should comply with the societies guide lines.

M.E.I. Corporation's staff takes pride in providing accurate pertinent results in a timely fashion that conforms with the strict ethical standards of all nationally recognized appraisal associations.

All of M.E.I. Corporation's appraisal staff are active members of the ASA.