• What is your general equipment appraisal educational background?  What specific experience do you have with the kind of machinery and equipment I wish to have appraised?

There is no requirement for machinery and equipment appraisers to secure a license.  Therefore, it is up to you to evaluate the ability and qualifications of those who call themselves machinery appraisers.  The machinery appraiser should have specific experience in the task at hand

• Are you a member of a professional appraisal society? If so, does that society test, certify, and recertify?  Do you hold a special designation issued by that appraising society?

By educating, testing and awarding designations to appraisers across six disciplines, ASA ensures that machinery and equipment appraisers receive the education, information and tools they need to become a recognized leader in the profession. Remember that an accreditation in appraising issued by a major teaching/testing/accrediting appraisal society is a strong indicator of ability. It is important to note that a major appraisal organization such as the American Society of Appraisers requires strict adherence to its Principles of Appraisal Practice and Code of Ethics . We provide equipment appraisals compliant with the Uniform Standards of Professional Appraisal Practice (USPAP).

Additionally, to ensure that competent, relevant, current valuation counsel is available to the public, ASA requires Accredited Senior Appraisers to reaccredit. This mandatory program emphasizes professional participation in a continuing education process. The program interfaces with the society's Principles of Valuation courses, the valuation sciences degree programs, and ASA's examination procedures.

• Are you a full time machinery and equipment appraiser or do you conduct other business activities?
  
• Can the machinery appraisal firm meet the specified deadlines?
  
• Does the machinery appraisal firm document the approach to value to assure values will be supportable in the event of audit, litigation, or insurance loss?

The machinery appraiser you select should be able to answer these questions and others, to your satisfaction.  Don't hesitate to ask.  The true professional appraiser will welcome the opportunity to display his experience and credentials.

For more information on  machinery and equipment appraisals please click on the link below to see an educational powerpoint presentation on machinery and equipment appraisals.

The Machinery and Equipment Appraiser