Equipment Appraisal Blog | Understanding Machinery Appraisals

Selling heavy equipment at auction? Get a crane appraisal first

Posted by Equipment Appraisal Services on Tue, Jul 05, 2016 @ 11:30 AM

If you have heavy construction equipment that you no longer need, selling that equipment at auction makes a lot of sense. Because auctions attract a lot of buyers, they are quick places to sell your equipment, compared to trying to sell something like a crane on your own. Finally since the auctioneer mediates the process, selling your equipment at auction can be less stressful for you. To prepare your heavy equipment for auction, it can be essential to have equipment appraisals done. Learn more. 

Why Have a Crane Appraisal Before Auction 

To understand the benefits of heavy equipment appraisals before auction, think about it from the buyer's perspective. A buyer is visiting an auction in hopes of getting needed equipment at a great price. They may be shopping on a budget, but still want to get a good piece of equipment. 

Appraisals can also help shoppers compare like items. If your crane is more powerful than others on auction, the appraisal can indicate this. If you really want to move your construction equipment, an appraisal is one additional piece that can make your piece stand out. 

Some buyers may be new to the auction scene. These buyers in particular may be hesitant about purchasing used equipment at auction due to not knowing what the market brings for the typoe of equipment. When they can view an appraisal, and see an independent valuation of that crane by an expert, it can provide them with useful knowledge. This can help them bid with confidence. 

While a crane appraisal benefits the buyer, it also benefits you. If you are ready to sell a crane at auction, you probably need the money for other purposes. In this case, it's better to sell the item quickly, even if you get a little less than you hope, than to hang onto that crane for months. Time you spend trying to sell the crane yourself takes time away from needed tasks. 

An auction allows you to sell your crane quickly so you can move on to other things. Getting that appraisal done can increase the likelihood that you sell the crane at auction because you will have an idea of what it may sell for.

How to Find Heavy Equipment Appraisers

When you are preparing to have a piece of machinery appraised, it is critical that you find a certified appraiser. If the appraiser you hire is not certified, the report may not meet the Uniform Standards of Professional Appraisal Practice (USPAP). Appraisers that follow USPAP provide unbiased opinions of value.

Look for an appraiser who is certified and has performed construction appraisals in the past. This person will be familiar with the best ways to take the value of heavy equipment like cranes.

Tags: Equipment Auction, crane appraisal

EquipmentAuction.com and Honda celebrate National Robotics Week with start of Industrial Robot Online Auction

Posted by Equipment Appraisal Services on Mon, Apr 06, 2015 @ 12:46 PM

PRESS RELEASE

Youngstown, Ohio --- EquipmentAuction.com, LLC today announced the start of the sale of 19 industrial robots currently utilized at the Honda of Canada automotive assembly plant in Ontario, Canada.

This week celebrates the sixth annual National Robotics Week, a special week designed to educate the public about how robotics technology provides an important impact on society. Leading universities and companies have come together to promote the benefits of robotics. In conjunction with this week, these robots are being made available to the general public for purchase. Currently utilized by Honda, the robots are fully equipped and can be relocated for use in educational or other industrial facilities.

Equipment_Auction

The available robots include Yaskawa Motoman models UP60, UP120, UP130, UP165, UP200, K300, and SK16. In addition to the robots, there is miscellaneous material handling equipment available.

The online auction is currently underway and runs through April 30, 2015. It is in the form of an “absolute auction” with no buyer premium.

Companies looking for used equipment from a world-class manufacturing facility are encouraged to sign up as registered bidders, view, and bid on the available lots at www.EquipmentAuction.com.

About EquipmentAuction.com, LLC: 

EquipmentAuction.com is an online equipment auction mediation company that provides a marketplace for machinery & equipment buyers and sellers. Through its sister company, Equipment Appraisal Services, the company also provides machinery and equipment appraisals for accounting, banking, and legal purposes for both public and private companies. For more information about EquipmentAuction.com, please visit www.EquipmentAuction.com. For more information about Equipment Appraisal Services, please visit www.EquipmentAppraisal.com.

Tags: Equipment Appraisal, Equipment Auction, Robotics, National Robotics Week

Quoting an equipment appraisal? Here's what you need

Posted by Equipment Appraisal Services on Fri, Nov 14, 2014 @ 03:11 PM

equipment appraisal

We frequently get asked to quote equipment appraisal projects. Often times the potential client has never purchased an equipment appraisal before. We are often asked what information is needed to prepare a quote.

The first question to answer is related to the reason (or need) for the report. The report structure for financing collateral purposes, for example, is different than litigation. Second, we need to know what type of equipment is being appraised. Some equipment is easier to research than others. At times machinery values can be found on equipment auction websites or databases while other times it requires contacting manufacturers and dealers. Third, we need to understand the quantity of items that are to be appraised. It is usually easiest to prepare a quote for a project when a basic list is sent showing a general description of the equipment. This way we can understand the type of machinery and quantity of items. Fourth, we need to understand what type of value (or values) that is needed for the situation. For example, some lenders require fair market value, orderly liquidation value, and forced liquidation value. Other lenders, on the other hand, may just need one or two of these values. Fifth, we need to know if the client wants an on-site or a desktop appraisal. If it is an on-site appraisal, we need to know where the equipment is located. We also need to know if the equipment is located in multiple locations or a single location since this will help us schedule our appraiser’s data collection. Realize that though more cost effective since travel is eliminated, desktop appraisals are not recommended for all situations. Finally, we need to know what the client’s timeframe is to receive a completed report.

As you can see, there are a number of variables that come into play when quoting an appraisal project. Because of this, there is not a pricing matrix that is used. We must quote each project uniquely based on the above factors.

Tags: Equipment Appraisal, Equipment Auction