Equipment World Digital Magazine
Issue link: https://read.dmtmag.com/i/95873
maintenance | by Tom Jackson TJackson@randallreilly.com EQUIPMENT APPRAISALS For best results take charge of the process I t is almost certain that at some point you will have your equipment fl eet ap- praised. The outcome of that ap- praisal might affect your ability to borrow money, obtain bonding, purchase equipment and continue to operate and profi t. In other words, appraisals have become a big deal, and you as the fl eet manager or fl eet owner should be directly involved with the appraisal process. " That's the advice of Brett Hoff- man, a 30-year veteran in the fi eld and one of three senior appraisers at J. J. Kane Appraisal Services. Hoffman recently gave a pre- sentation at the 2012 Fall Asset Management Symposium, put on by the Association of Equipment Management Professionals. Here's what he had to say. Take an active role "You want your equipment rep- resented fairly," Hoffman told the AEMP members. It's important that you get a fair shake in your ap- praisals. The appraiser should be willing to listen to your concerns and seek your input regarding the repairs, overhauls or rebuilds that you have performed on your equipment. Equally, you should be upfront regarding any defi ciencies or equipment requiring repairs. His goal should be to determine an independent and balanced opinion of value for all parties involved in using the appraisal. It's your fl eet and you should have a say in who is going to do it and how it's going to get done. " Get involved to get the best result and the right value for your equipment. EquipmentWorld.com | December 2012 39