Appraisals of machines, industrial plant and equipment are used for various purposes such as:
Replacement and Actual Cash Value for insurance purposes
Fair Market Value for sale, auction, lending purposes etc.
The different values are defined as follows:
Replacement Cash Value
It is usually defined as the cost to replace the damaged property with materials of like kind and quality, without any deduction for depreciation.
Actual Cash Value
The ACV are typically the costs to repair or replace the damaged property, minus depreciation due to wear.
Fair Market Value
The Fair Market Value is the price that would have to be paid to purchase an asset in its particular market.
As a rule for valuations, plant and equipment are physically recorded by the office's employees (assistants) and a calculation concept is prepared.
The benefits of a proper estimation of value consist of:
Reliable determination of insurance sums to avoid underinsurance and the associated losses, plus simple documentation of damage for insurance claims through an actuarial estimation of replacement cash and actual cash value.
Accepted, objective estimation of fair market value for sales etc.
We offer this service in cooperation with partner offices.
Please contact us.