Here are some commonly asked questions regarding our used machinery and equipment appraisal.
What does CMEA mean?
CMEA stands for who we are as a company, and as professionals.
As a company, Capital Machinery and Equipment Appraisals is committed to giving our clients the true values they need, no matter where their assets are located. We specialize in desktop appraisals that save our clients time, money, and frustration, so if you need an online equipment appraisal you’ve come to the right place.
Certified Machinery & Equipment Appraisers, or CMEAs, are specially trained and certified by the NEBB Institute to provide current values of machinery and equipment. The NEBB Institute is the leading organization for machinery and equipment values and provides CMEAs the resources and networks needed to determine current market values.
What are the qualifications of a CMEA?
CMEAs are trained and certified by the NEBB Institute, which is the leading organization for machinery and equipment appraisals. Further, CMEA reports are written in accordance with USPAP.
What types of reports do you deliver?
The team at Capital Machinery and Equipment Appraisals delivers reports that are consistent with the scope of the engagement and your business’ needs. We provide desktop appraisal and summary appraisal reports. We also travel in order to provide equipment appraisal services all over the world.
What is the difference between desktop appraisal and summary appraisal reports?
Desktop appraisal reports, aka online equipment appraisals, are certified reports based on information provided by the client for an online equipment appraisal. This information includes the make, model number, year, serial number, condition, estimated remaining useful life, and optional photo for each piece of machinery or equipment.
These reports are ideal when assets are not centrally located, saving both time and travel costs. Once the team at Capital Machinery and Equipment Appraisals receives the information, our Certified Machinery & Equipment Appraisers (CMEAs) will generate a report based on the appropriate value warranted for the situation and that value, whether it is a fair market value or a forced liquidation value, will hold up to the highest scrutiny.
In contrast, a summary appraisal report is based on that same information, except a CMEA gathers it through personal inspection of the assets. Traveling to your location, our appraisers will inspect each piece of machinery or equipment to obtain the information and take pictures, if warranted. The summary appraisal report will include the information gathered on the visit and it will provide the value of all the inspected assets.
What are Capital Machinery and Equipment Appraisals’ qualifications?
Kevin Scott, CPA, MBA, CMEA is the founder and owner of Capital Machinery and Equipment Appraisals. He has extensive experience in deriving machinery and equipment values, litigation support, pre-audit planning, reconstructive accounting, turnarounds, and management advisory services regarding acquisition and divestiture options.
Mr. Scott is affiliated with the NEBB Institute (NEBB), and American Institute of Certified Public Accountants (AICPA).
Does Capital Machinery and Equipment Appraisals provide other services?
Yes! Our brokerage service also assists businesses in buying and selling their assets, sometimes helping liquidate entire businesses, if necessary.
Are your appraisals USPAP complaint?
Yes. USPAP (Uniform Standards of Professional Appraisal Practice), promulgated by U.S. Congress, is the leading authoritative source for the collection and reporting of appraised values. It serves as a code of ethics and competency adherence that all professionals at Capital Machinery and Equipment Appraisals abide by while serving our clients.
Why is fair market value used instead of book value?
Fair market value is what your asset is worth now on the current market. Book value is the difference between the acquisition cost and depreciation, which does not reflect the true value that would be obtained on the open market. Our certified machinery and equipment appraisers can provide you with the actual selling price you might expect in today’s market.
How much does an appraisal cost?
Contact us today for a free estimate! Once we have a better understanding of what you need, we can provide a quote for your machinery or equipment appraisal.
What is the typical turnaround time for the preparation of a certified appraisal report?
The turnaround time depends on the number of assets and where those assets are located. A desktop appraisal (an online equipment appraisal where the data is collected and supplied by the client) may be used to save time and produce a quicker turnaround.
How far will you travel?
Our CMEA professionals travel worldwide to serve our machinery and equipment appraisal to clients.
Are there industries and equipment that you do not appraise?
Yes. Gems and jewelry, antiques, art, and real estate. We would be happy to refer you to appraisers in these fields.
How do you know about the machinery and equipment that you appraise?
The team at Capital Machinery and Equipment Appraisals has years of experience appraising machinery and equipment and is well connected in the industry. Our experience and network of professionals will ensure your assets are appraised accurately. Seemingly disparate tasks such as medical equipment valuation and truck trailer appraisals are no problem when you have as much experience as we do.
Why is it important to obtain a professional appraisal?
Any interested party needs to know the value of the machinery and equipment in question. This information is critical for accurate financial reporting and will be scrutinized by all who review it. Don’t you think it should be dependable and substantiated?
A certified appraisal conducted by Capital Machinery and Equipment Appraisals will hold up against the highest scrutiny by any interested party such as attorneys, the IRS, lenders, and members of the judiciary system. Our CMEA professionals travel worldwide to establish fair market value of machinery and equipment for our clients. We inspect your assets and conduct extensive research to gather as much information as possible to substantiate your value conclusion. We have the relationships with suppliers and manufacturers to seek out the answers to support your claims. A certified report prepared by CMEA will include photographs, model and serial numbers, detailed descriptive information, and the research we have gathered regarding your assets.