Working in the construction or trucking industry your equipment is your biggest investment, buthow do you determine the fair market value of your used heavy equipment machine?
As a business owner you might have the following challenges
- Not being updated on the latest equipment pricing
- Pricing might change from one industry to another
- Demand of the item in the current market.
The answer comes in the form of an appraisal, however how do you choose appraiser?
- Alway choose a reputable and certified appraiser
- Inquire on their training, expertise, knowledge and experience
The benefits are immense, but to name a few, they will know which questions to ask.
- serial numbers
- maintenance records
- special features or upgrades
Armed with a written and certified report, you’ll be protecting your assets from financial loss due to theft, accidents, disasters and especially, below market prices when selling heavy equipment.
Sources:
https://experthe.com/how-can-you-determine-the-fair-market-values-on-used-heavy-equipment
http://www.sbnonline.com/article/equipment-appraisal-when-you-may-need-one-and-what-to-expect-from-it/
http://www.equipmentappraisal.com/blog