When listing equipment and machinery, it can be hard to know upon first glance how much an item is worth. That’s why it’s crucial to get a professional appraisal so that your assets can be sold at their highest potential. Usually, this won’t be the price you bought it for, as depreciation can take a toll. However, at Lenmark we ensure that your industrial equipment and machinery are taken care of.
How Depreciation Works
Since your item is given a life span when you purchase it, as the years go by and the lifetime shortens, your item becomes less and less valuable. This is because customers typically don’t buy an item at full price when it won’t last its full lifetime. Below, this relationship is portrayed by a basic chart showing the asset’s value on the y axis and the time span on the x axis. The value decreases at a constant rate, from the original purchase price to the current scrap value.
An item that is used more will decrease in value faster, so when appraising items we don’t only take into consideration the item’s age, but its usage as well.
The Auction Approach
If you were thinking of taking your item to an auction for sale, you will likely receive your appraisal value immediately before the item goes up for sale. The item could be way undervalued and sold within minutes. Since the evaluation process is not thorough, your value won’t be optimized. This approach is a last resort for those who want to sell their items as close to their original purchase price as possible.
Our Assessment Process
At Lenmark, our team of professional appraisers work hands on during the item assessment process. The research process is extensive, as all existing similar listings are cross-checked and quantitative analysis is conducted. We will usually check other e-commerce platforms like eBay, Craigslist, Kijiji, and more. Because our industry experts have years of experience, your item will be treated with care.
Are you looking to sell your equipment? Lenmark can help you through our 'Sell with Lenmark' page. There, you can either list your equipment, or sell your equipment directly to Lenmark.