Here at Capital Machinery and Equipment Appraisals, we specialize in desktop appraisals, sometimes called online equipment appraisals. While we’re perfectly happy to be called to fly all of the world for on-site and extremely detailed appraisals, we realize that that’s not what all of our clients need.
What’s the difference between a desktop appraisal and an in-person appraisal? While the equipment in question is physically inspected during a summary equipment appraisal, online desktop appraisals are only based on the information provided by the client. Information generally includes make, model, year, serial number, condition, and estimated remaining life of the vehicle or equipment. Photos can also be included.
What are the primary reasons that a company might decide to choose an online equipment appraisal instead of a summary appraisal to determine their used machinery values? Let’s take a look at some of the primary reasons that desktop appraisals are used in equipment valuation.
Your Equipment Is At Multiple Sites
This is perhaps the most common reason that companies contact CMEA to do online equipment appraisals. While a smaller company might have everything under one roof, a business that has multiple locations — sometimes all over the country — may find that a summary appraisal is simply not practical. A railroad’s assets are often all across the nation, and a state’s department of transportation will have vehicles in every corner of the state. A restaurant chain that’s being sold could have dozens or hundreds of locations that need to be evaluated.
Luckily, online appraisals don’t require a certified machinery and equipment appraiser to see every item in person, saving time and money. Speaking of which…
It’s Less Expensive
Not having to fly a certified appraiser to each and every location is certainly a money saver when it comes to used machinery values and vehicle appraisals. Flight time is reduced, as are hotel expenses and travel time by car. Desktop appraisals also save money because the client is gathering the information on each piece of equipment/vehicle on their own, instead of having the appraiser taking the time to hunt for all of it.
If you are interested in getting accurate values for your business, an online equipment appraisal might be exactly what you’re looking for. Especially if…
You Might Not Require a Full Appraisal
Businesses require valuation of their equipment for many different reasons. Sometimes it’s because a single piece is being sold; other times the entire business is changing hands. The formation of trusts, one partner dying, or a business changing from a C corp to an S corp can all require the help of a certified equipment appraiser.
But not all of these will necessarily require on-site summary appraisals. If you’re unsure whether or not you will need an appraisal to come to you, be sure to give us a call and we can help you find out. Otherwise, a desktop evaluation might suffice for your particular needs.
Contact CMEA Today
Our certified machinery and equipment appraisers are experts in desktop appraisals and are ready to help your company get accurate valuation. Contact us today to get the process started.