appraisal terms
Super Truck Appraisals: Equipment Appraisal on the Road
I got my first Super Truck limited edition CAT scale collector card October 2010. These Super Truck Limited Edition cards–for those of you, like me, who didn’t already know–are slick full-color trading cards that feature working trucks. Really amazingly customized big rigs that stand out from the transportation most of us see cruising down the highway, hauling chickens or lumber, produce, automobiles, or production goods. These trucks really are, well, super.
Proposed Update of Valuation Terms
In April, the American Society of Appraisers released a proposal to update the current Definitions of Value approved by the Machinery & Equipment Committee and the American Society of Appraisers Board of Governors.
Over the next few blogs, I’ll share the entire definition list, but today I’d like to concentrate on 2 areas that caught my attention right away:
The first thing I noticed was the insertion of the term “opinion” in most of the definitions.This makes a lot of sense as valuation is not an absolute measurement of value but one arrived at through research and, in the words of former PCAOB Chief Auditor Thomas Rays, “the appropriate application of seasoned professional judgment.”
