I can appraise the same excavator three times in the same week and hand back three different opinions of value, and every one of the numbers can be credible and properly supported. That statement makes people uncomfortable, and I understand why. An owner wants an appraisal number that behaves like a fact. But equipment value isn’t a property of the machine the way…Read More
Valuation Terms: Clarifying Purpose and Intended Use
Ever felt confused about the appraisal / valuation terms “purpose” and the “intended use”? Join the club! The difficulty is historical. The Uniform Standards of Professional Appraisal Practice (USPAP) officially re-purposed the turn “purpose” in the 2005 edition, explaining that Edits were made throughout the document [USPAP] regarding the term purpose, due to its varied…Read More