The appraisal of Equipment can cover the gamut of many thousands of different types and sizes. Equipment can generally be divided into one of two different types, real property or personal property. While it may come as a surprise to some, much of the property existing today in factories and plants are real property. Given that the definition of real property includes the requirement that the property be permanently affixed to the ground, much processing Equipment found in factories falls into this category. In some cases, Equipment is part of the structure of a building and cannot be sold without demolition. In such a case the Equipment typically has more value in place.

Equipment is typically valued using different value definitions. Market Value may be used for an item of portable Equipment such as a vehicle which is personal property and may be sold whole. In Place Market Value would typically be used to appraise the Equipment as part of an entire real property appraisal. Salvage Value is typically used when a portion of an item of fully depreciated Equipment can be sold, such as the motor out of a larger item of Equipment. Scrap Value may be employed to address the value of materials extracted from fully depreciated Equipment, such the extraction of copper from disused Equipment. Both Salvage Value and Scrap Value may be used in connection with evaluation of existing real or personal property. Once the salvaged materials or scrap materials are removed from the larger item of Equipment, they become personal property if they were not already.

ELLIOTT® is able to assist the client in determining the type value it should seek and that of a scope of work necessary to solve the problem at hand. Assignment to appraisers without the proper terminology may result in a flawed project. We appraise Equipment anywhere in the United States.