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Putting Together and Maintaining an Asset List Prior to a Machinery and Equipment Appraisal

April 9, 2013

If you’re planning to have your machinery and equipment appraised, make sure the appraiser has an up-to-date, complete list of the machinery and equipment that is going to be appraised. Many companies don’t keep their asset lists up to date, but it can help save lots time and potentially money. Maintaining an asset list on a regular basis will help to ensure that all the machinery and equipment information is as complete as possible.

An asset list is not the same as a depreciation schedule. For the purposes of a machinery and equipment appraisal, an asset list provides all the necessary information required by an appraiser to determine an as accurate value of your equipment as possible. There are some key pieces of information that every asset list should contain in order to save a business time and money before an appraisal. Below is a list of the key information that you should provide an appraiser.

  • Client asset number

  • Location

  • Year of the equipment

  • Make

  • Model

  • Year you purchased the equipment

  • Cost of purchased equipment

  • Current depreciation amount

  • General specifications – i.e., size, weight, etc.

  • General description of the asset

  • Meter count: hours / odometer, etc.

  • Serial number or VIN

  • General item/Property name

  • Location of equipment or machinery

A complete, up-to-date list of all your machinery and equipment can help speed up the appraisal process and potentially increase the value of your appraisal. An appraiser needs a complete basis for valuation, so if there is information missing, your machinery and equipment could be undervalued.

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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