As we roll into summer in the Southern States, so does the agricultural auction season, with more equipment auctions in the coming weeks for farm equipment. More than 13,000+ agricultural equipment items are listed in online auction inventories, including tractors, grain bins, headers, combines, grain trucks, cultivators, air drills, and more being listed across the nation.
What if I am looking to Sell Farm Equipment
This is a great time to look into having a machinery appraisal done for your business. If you find yourself in need of a machinery appraisal but aren’t sure how to use it or who might need it, you can ask yourself the following questions to figure out what kind of appraisal you need, when to get one, and who might need to receive the appraisal once you have it.
Who is this appraisal for?
Is it for you to sell your equipment? Or is it for a leasing company or for some other third party? This will help establish what sort of market you need for your equipment.
What is the intended use of your machinery appraisal?
Are you perhaps looking for an asset-based lending values review, insurance values you should claim, acquisition values, disposition values or values for a taxing authority? While each of these might seem silly to list, it helps us get together the right documentation for you to turn in.
Will my equipment need an inspection?
Some appraisals don’t require that the equipment has an onsite inspection, but if it does we will let you know and set up a visit to review it.
Is there a timeframe in which you need your machinery appraisal?
Do you need the report in a couple of days or in a couple of weeks? We do our best to accommodate our customers timeframes in such matters.
What appraisal values are you needing to receive?
The most common values include Forced Liquidation Value – Auction, Orderly Liquidation Value, Fair Market Value, or Replacement Cost. Each of these tells you something different about your assets as a whole, even if the end values are the same.
What equipment are you needing to have appraised?
Are you needing your entire plant or farm appraised? Or perhaps you only need certain assets only. We can work with you to get all of your needs met.
There are of course other things you can discuss with the appraiser as well. Having the answers to these questions ready to go when you talk to an appraiser will help to speed up the process of getting a quote and getting the correct appraisal report you need for your machinery.