Appraisal & Appraisal Review

Casey has managed the valuation of over 429 million dollars’ worth of machinery and equipment. The majority of these assignments were completed for GE Energy / Power and GE Capital; Corporate Lending or Equipment Finance. Machinery and equipment included automotive, plastic, general CNC machining and those used in the manufacture of gas and steam turbines.

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Past Valuations Include:

Precision Partners
Meridian Automotive
Lapeer Plating & Plastics
American Axle
Cadence Innovation
Metaldyne in bankruptcy
Hayes Lemmerz
Navistar
SMW Automotive
Collins & Aikman in bankruptcy

GE Hydro
GE Energy
GE PGS Global Repair Services
GE-Hitachi Nuclear Energy
GE Airfoils, GE Gas Turbines, LLC
GE Power – Turbine Components,
GE Grid Solutions
GE Aviation
GE Energy Solar Technologies
GE Lighting Systems

Select Clients Have Included:

GE Capital Equipment Finance
GE Capital Corporate Lending,
Wells Fargo Equipment Finance
Key Equipment Finance
Siemens Financial Services
Chubb Group of Companies
Alston & Bird LLP
Luskin, Stern & Eisler LLP

Bodman LLP
DLA Piper Rudnik Gray Cary
Locke Liddell & Sapp LLP
Gebhardt & Smith LLP
Reed Smith LLP
Latham & Watkins LLP
Luskin, Stern & Eisler LLP
Rosenberg Martin Greenburg LLP

Helpful USPAP Definitions

Appraisal Practice

Valuation services performed by an individual acting as an appraiser, including but not limited to appraisal and appraisal review.

Appraisal

(noun) The act or process of developing an opinion of value; an opinion of value.(adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services.

Appraisal Review

(noun) The act or process of developing an opinion about the quality of another appraiser’s work that was performed as part of an appraisal or appraisal review assignment; (adjective) of or pertaining to an appraisal review assignment.

Examples of Commonly Used Definitions of Value

SOURCE: Machinery & Technical Specialties Committee of the American Society of Appraisers — July 25, 2018.

Fair Market Value – Removed (FMV-Removed)

An opinion, expressed in terms of money, at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts, considering removal of the property to another location, as of a specific date.

Net Orderly Liquidation Value (OLV-Net)

The estimated net proceeds expressed in terms of U.S. dollars which the subject equipment could typically realize at a properly advertised and professionally managed orderly liquidation sale.  The seller would be obligated to sell, over an extended period of time, usually within six to nine months of the date of the appraisal. This value is estimated to be net of all expenses related to sale including but not limited to preparation, advertising and commissions.

Net Forced Liquidation / Auction Value (FLV-Net)

The estimated and net proceeds expressed in terms of U.S. dollars which could typically be realized at a properly advertised and conducted public auction sale without reserve, held under forced sale conditions and under present day economic trends, within 90 days of the appraisal report.  Conclusions consider physical location, difficulty of removal, adaptability, specialization, marketability, physical condition, overall appearance and psychological appeal. This value is estimated to be net of all expenses related to sale including but not limited to preparation, advertising and commissions.

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