When you're working with a heavy equipment appraiser, it's common to wonder what makes them stand apart from regular appraisers. Are they really that different from one of the other? You might be surprised at the answer. The level of education, experience and expertise that is used during the appraisal process by a heavy equipment valuation specialist can be truly astounding. Here's a quick look at some of the differences between a standard appraiser and a heavy equipment appraiser as well as some of the additional training that goes into the process of developing the specialty.

How is a heavy equipment appraiser different than a regular appraiser?

• How specialized is your machinery? Though a lot of heavy equipment is similar to other models on the market, there are often any number of features and kits that set your equipment off from the rest of the pack. A regular appraiser will deal with a wide range of items, from cars to copy machines to computers. A heavy equipment appraisal specialist, on the other hand, focuses only on heavy machinery. Because they don't deal with all the rest of the equipment on the market, they're familiar with the many ways that your machinery is unique. This allows them to focus on the fact that you've got the hydraulics upgrade kit and optional backhoe for your loader and value them appropriately.
• What condition is your machinery in? A regular appraiser have a grasp of the fact that it's pretty common for construction equipment to have a few scratches and dents in the course of its daily use, but are they able to recognize the difference between everyday wear and real abuse in the field? Because a heavy equipment valuator is constantly working with machinery that is active in the field, they have a strong grasp of what that equipment should look like and how it should act and react on the job site. This allows them to make an appropriate valuation because they know that your equipment is used, not abused, and they calculate the value of that machinery accordingly.
• Are there any potential failures that can be prevented to save money and improve value? A regular appraiser doesn't know your heavy equipment as intimately as a heavy equipment specialist does. Because they work with only heavy equipment on a daily basis, they get to know that equipment, including its potential points of failure. They're familiar with many of the signs that key components that are common issues with a particular model are starting to fail, such as a pulley going slightly out of alignment, a hydraulic leak that doesn't seem like much now and similar areas of concern. This allows you to make inexpensive repairs on smaller systems before they crash the entire machine.

When you need to have heavy machinery valued and have the choice between a regular appraiser and a heavy equipment appraiser, understanding the differences between the two can mean hiring the right person for the job or ending up with a poor appraisal that doesn't take the intricacies of your equipment into account. Make sure that when you're having your equipment appraised that you insist on a certified equipment appraiser that has experience in your industry to ensure that you're getting your money's worth and an exceptional appraisal report for your investment.

When you work in agriculture, your equipment represents a large portion of your investment in your farm. with combines costing hundreds of thousands of dollars, many farmers are ready to invest in used equipment. But before you sell your older machinery, have you had a farm equipment appraiser take a solid look at it and provide you with a written valuation report? If you haven't, you may be missing out on potential profits that you can then roll into your farm to improve your operation and situation. Here's a quick look at several reasons why you should always have a farm equipment valuation specialist provide you with an appraisal report before you sell it.

3 reasons why you should have a farm equipment appraiser check your equipment before selling

1. Can you get more than you're asking for machinery before you scare off potential buyers with prices that are too high? Not knowing your equipment's value in the first place may lead you to make assumptions about what it's actually worth based on the local advertisements, online ads or what your neighbor may have gotten for similar machinery not that long ago. A qualified equipment valuation specialist can determine exactly what your equipment is worth, giving you a solid starting point and a great tool for negotiation.
2. Are there any ways you can make simple repairs that quickly improve the value of your machinery? When an equipment appraiser looks at your machinery to determine its value, it's important to remember that they work with machinery like yours all the time. This means that they're familiar with all of its quirks, including common points of failure for specific manufacturers and models. If they see something that may appear just a touch off, they may be able to advise you about repairs that will prevent more expensive repairs and improve value for your buyers.
3. Is your equipment in demand in other parts of the country? If your equipment is not in high demand because of shifting market prices or changing environments, it may still be in demand in other areas. When you work with qualified equipment appraisers, you're seeing professionals who stay on top of all of the latest developments in agriculture. They can tell you whether you're in a good place to sell your equipment or if you may want to look elsewhere, such as an online auction site or similar option, to sell your equipment at the best possible profit in another part of the country or even world.

By having a farm equipment appraiser check your machinery before you sell it, you can improve the profit on your sale and have more money to invest in your operation. But don't settle for your local ag equipment dealership, whose sales reps and appraisers may think they have a vested interest in skewing the results of their appraisal to their own benefit by offering you more or less than your machinery is worth in hope of a quick sale. Don't settle for anything less than a certified equipment appraiser, who has solid experience and expertise in determining the value of your machinery equipment and can provide you with solid advice as to your equipment's real-world value.

Hospitals are merging at an unprecedented pace, with mergers and acquisitions consolidating the healthcare industry. Integrating two businesses can be difficult, especially for the smaller player in the transaction, who may have less power in negotiating the merger. A medical equipment appraisal can help ease the transition during a hospital merger by determining an objective value of important business assets. Here's what you need to know about a medical equipment appraisal before a hospital merger. 

What a Medical Equipment Appraisal Tells You 

In a medical equipment appraisal, an appraiser with demonstrated knowledge of the industry will determine the true value of all medical equipment. An appraisal will help you estimate the replacement cost or remaining useful life of the equipment. These figures helps with tax purposes, by helping you determine the appropriate amount of depreciation to take or by determining the true worth of all business assets. Lastly, appraising medical equipment also shows you the fair market value of all equipment, which comes in use when negotiating the terms of the merger or acquisition. 

It is fairly easy to identify the value of common medical equipment, such as MRI machines. For rare equipment, the appraiser may need to do extensive research. By reaching out to the manufacturer, identifying potential buyers, or searching out comparable equipment, the appraiser can value the machinery. 

By taking the value of their medical equipment and their personnel, hospitals can determine their relative worth when being acquired or merging with a competitor.

The IRS will generally require an appraisal during hospital mergers. To satisfy the IRS, the appraiser will need to follow a specific set of criteria. 

How an Appraisal Helps in Hospital Mergers

Without an appraisal, both parties would be relying on best guesses of equipment value, or book values that show what an item might be worth in a theoretical situation. When something as important as a merger taking place, all equipment must be accurately valued so the terms of the deal can proceed. 

Medical equipment appraisals can help equalize diverse companies. If one player in the merger is a specialist, for instance a prosthetics lab with pricey and rare equipment, determining objective value without an appraisal can be impossible. 

Medical equipment appraisals show the true value of business assets, painting a complete picture of each company's worth. Since appraisals are completed by a neutral third party with sufficient knowledge of the medical industry, they do not favor either side in a merger. 

With this data, hospital attorneys can then iron out a deal that ensures that both parties' worths are respected. Starting the merger or acquisition process with respect is essential to the success. If one side feels disrespected during the deal, it can lead to mistrust and suspicion after the merger is complete. 

Given the importance of an appraisal in determining value, it makes sense to get one as early as possible, before both parties begin discussing the merger or acquisition. So you get an accurate valuation of your equipment, find a qualified appraiser with experience valuing medical equipment. 

More mergers and acquisitions are expected among hospitals and medical equipment providers, which means the need for an objective appraisal will only grow. It's smart to seek a medical equipment appraisal before a merger is necessary, so you know your company's worth and can explore all your options without pressure from a third party. Seeking an appraisal at the last minute may bring higher price tags, due to the urgency. 

When you schedule an equipment appraisal for your construction equipment, whether it's a crane, cement mixer, or saw, the appraiser will visit your business to examine the equipment. Planning ahead for the appraiser's site visit will help the appraisal go smoothly for the benefit of all. Here's what you need to know about planning for a construction equipment appraisal site visit. 

Find Equipment Records 

The appraiser will want to know where and when you bought the equipment, how you've maintained it, and how the equipment is used. By gathering records related to your equipment ahead of time, you can provide the equipment appraiser with accurate information, rather than guessing. This could affect the valuation of your construction equipment. 

Records to look for include purchasing records, original receipts, maintenance logs, and replacement part orders. Appraisers may ask for other documentation, so this is not a complete list. Some appraisers let you know ahead of time what they need to see, so you can gather relevant materials. 

If you're having all of your construction equipment appraised, rather than one new asset, it's helpful to print out a list of all the assets you have. This way, you can ensure you don't miss anything. 

Schedule the Appraisal 

Appraisers know that situations requiring appraisals at times can be confidential.  Good appraisers know what to (and what not to) say when approached by curious employees.  Depending on the situation, appraisals sometimes need to be completed at off times rather than during the day.

 Prepare Yourself 

The appraisal will be a more enjoyable experience when you prepare yourself ahead of time.

This might mean reviewing equipment specifications or looking over maintenance logs so you can speak to how equipment is used at your construction company. It could mean writing up a list of questions you want answered. For instance, if you're considering whether to repair or replace a table saw, you might want to ask the appraiser for the estimated remaining useful life of the equipment or what it might fetch at auction, so you can make the right decision. 

Your reason for seeking a construction equipment appraisal may dictate the questions you have for the appraiser. For example, if you are selling equipment as part of business liquidation, then you might want to know more about the resale potential for equipment. If you are appraising construction equipment for tax purposes, then you might ask about maintaining that value over time, to protect your business. 

Speaking of preparation, it's important that you only hire an accredited appraiser who has demonstrated experience with construction equipment. Otherwise, there is no guarantee that the appraiser you hire will be able to accurately value the equipment. 

When most people call an appraisal firm, it's to get information about having an appraisal performed. But because of the number of calculations involved and the knowledge behind those calculations, another question that is frequently asked is what does a machinery appraiser actually do every day? Here's a quick look at the regular tasks that take place in an equipment appraisal firm.

What does a machinery appraiser actually do on the job?

They talk to you on the phone, show up at your location, hem and haw over your equipment, go away, then present you with a report of their findings. Machinery appraisers have a somewhat mysterious job, because much of it is hidden behind the scenes. Here's what happens during the equipment appraisal process:

• When you first call in, the appraiser may be overseeing any number of projects, studying for continuing education for their certification, studying the newest figures on the longevity of a particular model of equipment or catching up on how the market is impacting values for specialty equipment within a specific industry.
• As they gather the initial information on your equipment, they're already going into calculation mode. "Does that have the optional backhoe?" they ask, knowing this will kick the value up further. "How many hours does it have on it?" knowing that particular model tends to either fade out at 4,000 hours or go strong up into the 10,000-hour range.
• Once they've gathered the initial information, they verify their own impressions of what the machinery is valued at. Though they may remember the estimated value as a starting point for a range of machinery, equipment that they're not familiar with will require them to find a baseline value from which your machinery's condition factors will be taken into account.
• When they arrive to inspect your equipment, it seems like they're spending a lot of time just looking at it. However, in that time, they're looking at whether the pulleys or gears are aligned, if the machine is making any unusual sounds, whether that stain is just an old issue or a sign or a serious hydraulic problem and similar aspects of the equipment that will impact its value.
• Back in the office, they take a solid look at the market. If you have oilfield equipment and the industry is in a bust cycle, that will have to be reflected in a lower value on your equipment. If, however, they see that there's a hot new discovery that's being leveraged, they can provide you with that information so that you can sell at a better price outside of your region.
• Finally, they take all this information to develop a solid valuation report. This report takes into account the market conditions, type and model of equipment, the condition the equipment is in, its expected useful lifespan and any number of other factors to calculate a final value for your equipment. It's written up neatly and can be appealed for a revision if the value doesn't seem correct.

By gaining a better understanding of what happens behind the scenes at an appraisal firm, you gain a better grasp of the knowledge and experience that a machinery appraiser must have to complete their job on a daily basis. When you understand this, it gives you a better appreciation for the information these certified professionals are able to provide about your company's equipment assets.