Equipment Appraisal Blog | Understanding Machinery Appraisals

How an Industrial Equipment Appraisal can Help You Sell Your Assets

Posted by Equipment Appraisal Services on Thu, Oct 15, 2015 @ 02:00 PM

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There are many reasons that you might want to consider an industrial equipment appraisal or machinery valuation before selling or auctioning a piece of equipment. When you're preparing to auction old equipment, an appraisal can help you get an idea of how much it may be worth to another party - and set your expectations for the auction process. Learn more about how machine appraisal can help you auction your equipment.

If you own a piece of heavy machinery, such as a printing press or a bottling line, you know how much you paid for it and how much you have spent to repair or refurbish the equipment. Would you know how much that piece of equipment would fetch if you were to sell it or auction it off? Equipment appraisers can give you a solid, updated idea of your equipment's current market worth before you sell, so that you do not undervalue or overvalue your equipment, derailing a potential sale.

An equipment appraiser will evaluate your industrial equipment by type, age, history, uniqueness, useful life, and market value to give you an estimate of how much that equipment would be worth to a neutral party. When you have this information, you can then make decision about auction reserve values or determine whether to make repairs to the equipment before putting it up for a heavy equipment auction

When you have an updated understanding of your equipment's value, you can then put it on the market in a forum where it will be appreciated and have the best chance of selling. Better yet, you will also be able to display the appraisal with the item's auction listing. 

This can give buyers the confidence that the item is a good value and encourage bidding. As a result, you may be more likely to sell your item for a higher price. If a simple appraisal could generate multiple bids and a higher selling price to a satisfied customer, and no appraisal could mean a lowball sale to a lucky risk-taker, wouldn't that be money well spent?

Additionally, if you've taken the time to get your item appraised, it may attract more interest at auction than similar items that weren't appraised. If it's a buyers' market for industrial equipment like yours, and you want to increase your chances of selling something quickly and at the right price, an appraisal can make all the difference. 

Having the equipment appraisal also gives you quick, decisive insight into the value of your machinery. Face it: Appraisers are experts on industrial equipment value and you are not. To try to value your equipment on your own, you would need to spend a lot of time researching its worth. Even then, you would be making an educated guess at best. When you want to generate the highest possible return on investment from the sale or auction of your unwanted machinery, you need an appraisal.

Whenever you are seeking the services of an appraiser, you must make sure that person is certified to appraise items and knowledgeable about your niche. This way, you will have the confidence that the item you have appraised will receive a fair and honest appraisal that reflects its value on the market. 

Equipment Appraisal Services provides machinery and equipment appraisals. If you need a piece of industrial equipment or machinery appraised, or if you would like to learn more about what you can expect from an appraisal, please contact us.