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The Importance of Using a Qualified Equipment Appraiser for Your Business

If you find yourself in need of an equipment appraiser for your business, it is in your best interest to look for a certified equipment appraiser. Equipment that you use on a daily basis is vital to the efficient operation of your business, and if this equipment should have to be replaced or sold, you want to be sure that you are getting full value. A certified equipment appraiser is one who is unbiased, knowledgeable, professional and trained in the knowledge of adjustment compensation. They should also be familiar with the latest market research in this industry.

When you hire an independent certified appraiser, the report from this individual is an irrefutable document that will stand up in a court of law or elsewhere. Estimates from individuals such as auctioneers or equipment dealers may be knowledgeable however they will not provide you with a report that will stand up to the scrutiny of a court proceeding should this occur. Appraisals of equipment must be based on knowledge of that equipment’s standing in the industry and its overall value based on these facts. Many people who hire unqualified individuals to produce such reports about equipment often end up with values that are significantly less than what the fair market value actually is.

Should a situation arise where you no longer need the equipment or the business isn’t doing so well, you may need to sell the assets in your business. Having a fair and accurate value appraisal can significantly assist the business owners when it comes to making decisions regarding the recovery of costs. There are many scenarios where you may need an equipment appraisal which includes insurance assessments, collateral verification for loans or the splitting of assets due to divorce or other legal proceedings.

Any equipment appraiser that you decide to hire should have a title from one of the several associations in this industry such as the Accredited Senior Appraiser (ASA) or the AMEA. These organizations provide certifications and accreditations and can assure you that the individual that you are using has the proper education to be working in this industry. Do not undervalue your equipment by paying for an appraisal from an individual who is not knowledgeable enough of the industry or equipment and could possibly place you in a situation that will undermine the value of your hard-earned equipment. As with many professional services, if you are unsure, always seek a second opinion.

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