Salvage and Scrap Values - Machinery and Equipment
Salvage Value
Salvage Value is an opinion of the amount, expressed in terms of money that may be expected for the whole property or a component of the whole property that is retired from service for possible use elsewhere, as of a specific date.
Scrap Value
Scrap Value is an opinion of the amount, expressed in terms of money that could be realized for the property if it were sold for its material content, not for productive use, as of a specific date.
