Every two years, USPAP (Uniform Standards of Professional Appraisal Practice) gets an update. That doesn’t mean, of course, that all appraisers are learning about the updates in the same year that the new version of USPAP hits the streets. In fact many appraisers only take a USPAP class every 5 years! Or, as we discussed in…Read More
Drought and its Impact on Valuing Agricultural Equipment
Several equipment appraisal report clients have recently asked me to include information on California’s on-going drought conditions and how current and continuing conditions might affect the value of the equipment appraised. It’s an interesting situation for an equipment appraiser to be in. As a rule, equipment appraisal reports state that the opinion of value provided…Read More
The Financial Risks of Flawed Appraisals
A previous post introduced the five qualities of a credible appraisal, and in a perfect world, the equipment appraisal report you’re basing financial decisions on would always adequately address those USPAP-specified qualities. The fact is though, that in this imperfect world many equipment appraisal reports don’t meet the basic requirements of completeness, accuracy, adequacy, relevance,…Read More
Appraising Hotel Equipment for the Holidays
Equipment appraising over the holidays? More fun than you’d think! Not only do we love our work, of course, but we got a great unexpected assignment that couldn’t wait. So instead of decking the halls, we celebrated by packing laptops, clipboards, measuring tape, and mechanical pencils into our intrepid travel office and driving through the…Read More
Avoiding Blindspots: Advice from the Road
Year-end is a busy time in the equipment appraisal business. Clients want to complete buy/sell agreements, process collateral loans, resolve estate and other family law issues, and generally tidy up equipment appraisal business that they’ve been too busy to deal with earlier in the year. That means that we’re heavily scheduled; and that means driving to…Read More
How to Get an Accurate Desktop Appraisal
Desktop appraisals, or limited scope appraisals, aren’t always cheaper or faster than the usual equipment appraisal, but — as discussed in a previous post about desktop appraisals — sometimes they’re a reasonable choice given the circumstances. And if you and your appraiser agree that a desktop appraisal meets your needs, you’ll be doing some of the…Read More
Musings During a Trip to San Jose
Back in the San Jose area late last month, this time inspecting construction equipment for a family law appraisal. We’ve done so much equipment appraisal work in the San Jose area that it’s almost like going home! The October weather, of course, was perfect, as is to be expected in Santa Clara County.
When to Worry About the Accuracy of Your Appraisal
An appraisal review or expert rebuttal report is a good choice whenever you feel confused about the methodology used in an equipment appraisal report or uneasy about the qualifications of the equipment appraiser. This could be a report you originally contracted for – or it could be an equipment appraisal report you’ve received from another…Read More
Must-Have Resource From the Appraisal Foundation
If you’ve ever had any questions about equipment appraisal, I’m happy to share with you a new, free downloadable brochure from the Appraisal Foundation, entitled Valuation of Machinery and Equipment. This full-color, 20-page booklet is packed full of must-have information; it lists reasons you might need an equipment appraisal, provides important definitions from the American Society…Read More
The Difference Between an Appraisal and an Appraisal Review
When clients call our office asking for an equipment appraisal review, I’ve found it’s important to ask them the purpose of the appraisal review. That quickly opens up the discussion about what an equipment appraisal review is and is not. And believe me, not everyone understands the difference between an appraisal (a quantitative analysis) and…Read More
Grocery Equipment Valuations
Next time you walk into a grocery store, take a moment to appreciate all the equipment on the sales floor –– from the cantilevered gondola shelves to the automated checkout stands, the food bar, water dispensing machine, and of course, all the refrigerated display cases: enclosed freezers, reach-in refrigerated cases, the open topped freezer boxes…Read More
The Use of Photos in Appraising Equipment
Taking useful photos is an important part of the equipment appraisal process. Taking interesting photos is a bonus. You’ve probably visited our flickr or Pinterest sites, where some of our photos are highlighted. We also use some photos to illustrate our blogs. A few weeks ago, we received a flattering email from a Canadian educational…Read More
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