Should You Hire an Auctioneer or Dealer?

Should you hire an auctioneer or dealer to appraise machinery and equipment? Auctioneers and machinery and equipment dealers may have a hidden agenda. Most of these individuals are not certified or trained in providing USPAP compliant appraisal reports. If the appraisal report you obtain is not USPAP compliant, it is not a “qualified” appraisal prepared by a “qualified” appraiser pursuant to the IRS and others. Beware if the individual does not have certification. You will only open yourself up to increased costs, liability, risk, and an unsubstantiated equipment appraisal. Guessing is filled with liability and risk. The loan file will not contain the substantiation needed to support a loan decision. A certified machinery and equipment appraiser delivers an independent, comprehensive appraisal report that is irrefutable, defensible, and withstands scrutiny because it is based on sales comparables and market research.