IEV receives calls about our extensive and comprehensive training, professional certification, and ongoing support. If your question is not answered below or you need clarification, we encourage you to give us a call ... we'd love to be given the chance to discuss equipment valuations and appraisals.
Question: "What is the difference between an equipment appraisal and equipment valuation?"
Answer: "An equipment appraisal and equipment valuation are synonyms. Through the years, the terms have evolved to mean the same thing with the result being the Equipment Certified Appraiser (ECA) delivers a defensible estimate of value."
Question: "I have a client that wants to sell his business which is asset heavy. Can you help me with the value of the assets so we can sell his business? "
Answer: "This is a daily call for IEV! Yes, we can absolutely help. The first topic we'll discuss is what type of facility or industry as well as what state it is located. There are actually two ways in which IEV can help. IEV can teach the caller how to value the equipment through our proprietary Section 1 course. During the time that the caller is learning Data Collection in the Section 1 course, IEV will conduct hands on data collection with the caller, conduct the research applying the approaches to value and write the Appraisal Report with both the caller (Data Analyst) and IEV signing the report. This is a wonderful avenue to learn, establish professional credibility, and earn money all leading to the ECA professional credential.
The second avenue the caller can take advantage of is if they do not want to earn the professional credential of ECA. After we obtain the necessary information, IEV will connect the caller to one of its Members who are experienced and knowledgeable to deliver a defensible estimate of value.
Both strategies above, ensure the caller that IEV's goal is to assist in solving the issue so that the business can be sold with a defensible estimate of value for the equipment."
Question: "What does an equipment appraisal cost?"
Answer: "An equipment appraisal varies in cost depending on the list of equipment, site visit or desktop, levels of trade, location, and industry. An ECA will ask to see a list of equipment via an excel spreadsheet which we (and a CPA) refers to as a depreciation schedule or tax asset detail. This will give the ECA an idea what equipment items are capital in nature without including leasehold or the inexpensive items."
Question: "What makes your organization different from others who train and certify equipment appraisers?"
Answer: "There are many other fine organizations who train and certify equipment appraisers. Yes, it can be confusing but without doubt, our hands on 24 hour / 7 day a week ongoing support is one significant difference our Members depend on and utilize for questions, resources, and assistance. Another significant difference is our Member's Briefcase is filled with current and up-to-date resources and tools. The IEV Report Generator is free and updated with current USPAP guidelines for reporting. There are many more differences between organizations. We welcome and encourage every question you may have."
Question: "I would like to be an equipment appraiser because I have alot of customers who have equipment and I know that it would help my business grow. My concern is that I don't know anything about equipment."
Answer: "Equipment appraisal is unlike any other appraisal whether it be real estate or business valuation. An ECA never collects the data for each item of equipment without being acompanied by a host, manager, owner, etc. These individuals know about their equipment and are able to inform the ECA about specific we require about the equipment. An ECA never inspects the equipment for workability. Also, we do not operate, climb on, or turn on any equipment. An ECA relies on the information provided by the host, manager, owner, etc."