Appraisals Contact Us for an estimate for the cost of Appraisal Services. EISG has proprietary databases tracking sales of Office Furniture, Computer Equipment, Copy Machines and Fax Machines over the past 10 years. GASB Compliance What you should know
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The function of our Appraisal Service is to express an opinion of the Fair Market Value for the office furniture, office equipment, computers, and other equipment found in the Visual Asset Manager Site Database. The Fair Market Value, for purposes of Appraisals performed for our clients, is defined as the estimated amount expressed in terms of money that could reasonably be expected to exchange between a willing buyer and seller, with neither being under the compulsion to buy or sell, and both having reasonable knowledge of all relevant facts. The American Society of Appraisers recognizes three approaches to determining value: Cost Approach, Market Approach, and Income Approach. The Cost Approach is based on the proposition that an informed purchaser would pay no more for an asset than the cost of producing a substitute with the same utility as the subject asset. This concept is also known as the Principle of Substitution. It assumes the maximum value to construct a new asset of equal utility, or to take the current cost new and adjust for all forms of depreciation attributable to the asset at the time of the appraisal. Depreciation can be determined based on physical deterioration and wear-and-tear, technological and functional obsolescence, or economic obsolescence. An age-life analysis is considered when factoring depreciation. The Market Approach is based on the collection of market data pertaining to the subject assets being appraised. This analysis is also known as the Comparison Sales Approach. This value would involve an analysis of each item's age, desirability, condition, function, quality, serviceability and expected utility life, as well as prevailing local economic trends and the marketability of each item, in order to arrive at an indication of the most probable selling price for the assets being appraised. In the case of office furniture, we also consider the desirability of color and/or fabric vis-à-vis today's contemporary colors, and each item's general condition and wear and tear. The third method, the Income Approach, considers value to be represented by the present worth of future benefits derived from ownership and is usually measured through capitalization of a specific level of income. Our appraisals deliver results in the following areas:
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