Equipment Appraisal Terms
Below are some industry standard terms and definitions
Desktop Appraisals
A desktop appraisal is performed without the appraiser physically being present on the site of the assets for the appraisal. More...
Fair Market Value
Fair Market Value is the professional opinion of the most probable price of the market value of a property expressed in terms of currency. More...
Fair Market Value in Continued Use
Fair Market Value in Continued Use is the professional opinion of the most probable price of the market value for a property expressed in terms of currency. More...
Fair Market Value in Place
Fair Market Value In Place is the professional opinion of the most probable price of the market value of assets expressed in terms of currency. More...
Orderly Liquidated Value in Place
Orderly Liquidation Value in Place is the professional opinion of the estimated gross amount of assets in place expressed in terms of currency that a knowledgeable buyer would be willing to pay a knowledgeable seller. More...
Orderly Liquidation Value.
Orderly Liquidation Value is a professional opinion of the estimated price, expressed in currency, that an asset or company could quickly be sold for, should the company go out of business. More...
Forced Liquidation Value
Forced Liquidation Value is a professionally estimated worth of the most probable price recognized by a forceful liquidation. More...
Replacement Cost New
Replacement Cost New is a professional opinion of the cost, expressed in terms of currency, in offering substitutes similar to the assets that had been inspected. More...
Replacement Cost Used
A professional opinion of the cost in terms of currency in providing substitutes similar to the assets inspected having comparable utility and exhibiting similar design and technology. More...
Sound Value
The installed replacement cost new of an asset, less physical, functional, and external factors of depreciation. More...
Valuation
Valuation is the method of appraising the prospective market value of a financial asset(s) for an auction. More...