Tarhe Driver
Well-Known Member
- Joined
- Nov 16, 2015
- Messages
- 248
- Location
- Savannah, GA
- Occupation
- Comm. Real Est Appraiser-Retired cargo/helo pilot
Value is what a market for a property, real or personal, believes at any given moment that property is worth. Market areas can be very small, to global. Value is the opinion of the market for that property.
An appraisal is an appraiser's opinion of what the market for a property believes a property is worth; therefore, an appraisal is an opinion of an opinion. Deriving an appraisal of a used car is one thing, but figuring out how much less that car is worth if it is badly wrecked may be hugely more difficult until the car is taken apart, the problems diagnosed, and the numbers run.
I would think that the larger a non-operating piece of heavy equipment is, the more difficult it could be to establish the cost to put it back into longer-term operating condition.
Flame away....
Neill
An appraisal is an appraiser's opinion of what the market for a property believes a property is worth; therefore, an appraisal is an opinion of an opinion. Deriving an appraisal of a used car is one thing, but figuring out how much less that car is worth if it is badly wrecked may be hugely more difficult until the car is taken apart, the problems diagnosed, and the numbers run.
I would think that the larger a non-operating piece of heavy equipment is, the more difficult it could be to establish the cost to put it back into longer-term operating condition.
Flame away....
Neill