There could be so many reasons why you need an equipment appraisal. For one, it can be because you simply wanted to know the real value of your machines for the purpose of selling them. The worst scenario would be that your business is facing some financial issues that you need to have your assets appraised. Whatever is your reason, a reputable appraiser has the right expertise and knowledge to give your machinery or equipment an appraisal that reflects its true value.
You might be wondering how long it will take for an equipment appraisal to complete. It actually depends on many things, particularly how much equipment you have that needs appraisal. If you’ve got hundreds of items to be appraised, then it will be much longer than dealing with only a few dozens of equipment. It will also depends on the type of equipment you have, the levels of value you are requesting, and when do you exactly need the appraisal result. All of these factors will affect when you can expect the final output from the appraiser.
When it comes to what happens during the entire equipment appraisal process, the appraiser will inspect the equipment and all the documents containing relevant information about the item. These include the make, model, serial number, condition of the machine, any upgrades made with it, modified features, as well as any maintenance records available for the equipment. The appraiser will inform you in advance of what are the specific information needed so that you can prepare them for the actual day of the inspection. Once everything has been documented by the appraiser, he or she can then determine a value for that certain equipment, specify it in a report and certify it.
In the event that the appraiser won’t be able to view the equipment personally, the appraisal can still be made by just relying on you to provide the necessary documentation. This is referred to as a desktop equipment appraisal, which does not require the appraiser to personally inspect the machine. He just needs to disclose it in the report and certification, then you’re good to go. What you only have to ensure is that you choose a qualified appraiser that you can fully trust.