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Readin’, Writin’, and Appraisin’

August 24, 2011

With kids’ return to school right around the corner, we thought we’d take advantage of the opportunity to show how a machinery and equipment appraisal might apply to a seat of higher education and learning.

First, as in any equipment appraisal, we’ll need to bring in a Certified Machinery and Equipment Appraiser (CMEA) to be certain that the job is done right. Next, we’ll need to determine the types of things that need to be appraised.

Pretty much any property that belongs to the school can be appraised. That includes things like books, chairs, desks, computers, blackboards, sports equipment, and even the warming trays and heat lamps in the cafeteria. Everything has value, and a CMEA is trained to use a variety of methods to determine that value.

What about equipment that’s been in the school for years? Well, a CMEA can determine the depreciation of that equipment – that is, the value of it now versus the value of it when it was new.

And all the shiny new stuff purchased over the summer? It should be insured against damage or loss, and a CMEA can determine the insurable value for all of it – so that if something unforeseen should happen, the school will be properly compensated.

The reason it’s important to know the value of the school’s machinery and equipment is so that if any of it is sold or traded in at any point, the school will receive a fair price for it.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

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