The Complete Guide To Equipment Appraisals Before Planning An Auction

More often than not, businesses want to receive the highest possible valuations on their assets when receiving equipment appraisals before deciding to sell everything through an auction. The secret to achieving optimal prices is to ensure your machinery & equipment are in the best shape possible, both functionally and cosmetically. While factors such as physical deterioration, and functional & economic obsolescence can affect values in an equipment appraisal, knowing what you can do to improve these values will better prepare you for what to expect if you plan to auction. 

Here are four easy steps to achieve higher equipment appraisal values

Keep Fully Accurate Equipment Records

Keeping an up-to-date record of your equipment is the most efficient way to track the performance data of your assets. Effective documentation of your purchase records, maintenance frequency, and mechanical performance intervals and ultimately showing your equipment is well taken care of can affect equipment appraisal values.

Highlight Attractive Options 

Sometimes machinery & equipment come with options that are not standard and come at an extra cost and equipment appraisers recognize these additional options can add value to the asset. For example, your machine may operate at a higher speed than the standard model or can produce parts at a higher rate. Understanding the additional options on your machinery & equipment may yield higher equipment appraisal values. 

Prepare For Results

An Equipment appraisal involves accurate data gathering of information such as the age of the equipment, manufacturer’s name, model number, serial number, capacity, specifications, etc., some of which will directly influence the value under current market conditions. An equipment appraisal will identify positives/negatives which will better prepare the client if they decide to sell their assets.

Rely On Reputable Appraisers

The best way to achieve a reliable, trustworthy equipment appraisal is to work with an accredited appraiser with expertise in your machinery & equipment.

If you are looking for a reliable appraisal firm, you can count on the team at Infinity Asset Solutions for all your equipment appraisal needs. With our knowledge & experience, we can provide you with the best possible service. Contact us today to learn more about everything we can do for you.