Nyhof Machinery Co. is a machinery dealer that has been buying, selling, and appraising machinery for many years. When you choose to go with Nyhof Machinery you know you’re getting a certified appraiser with years of experience in buying, selling, & appraising machinery & equipment.
We have members of the AMEA (Association of Machinery & Equipment Appraisers). When dealing with a member of the AMEA you get an appraiser that shall conduct himself or herself in all respects according to the Code of Ethics and Standards and Procedures of Professional Appraisal Practice of the Association of Machinery and Equipment Appraisers (AMEA) Code of Ethics.
This Code of Ethics contains principles to govern each individual appraiser's conduct and practice. It is each member's duty to adhere to the letter and spirit of their practice according to this Code of Ethics. Each individual is obligated and agrees to be responsible for his or her conduct as follows:
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Conduct his/her appraisal activities in a professional manner, demonstrating the highest level of integrity, which will reflect credit upon himself, and the accrediting organization, the Association of Machinery and Equipment Appraisers.
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The appraiser can accept only those assignments that he is competent to perform and has the knowledge and ability to perform in a professional manner.
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The client must be fully aware of any interest the appraiser has in the machinery or equipment to be appraised. The appraiser must state clearly that his opinion of values is unbiased and objective. These opinions must not be prejudiced by past, present, or any future interests in the machinery and equipment appraised. It is a violation of this Code of Ethics to formulate opinions of value that may be subject or self-serving or that are based on any interests that may affect the validity of the appraisal.
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Compensation derived from an appraisal shall be based on the nature and scope of the appraisal. The appraiser shall not derive compensation for any appraisal contingent on values pre-determined by the client.
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The appraiser shall prepare the appraisal report and the opinions expressed in it are his/hers and not that of another party.
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All appraisals are to be held in strict confidence between the appraiser and his client, and shall not be furnished to another party unless specifically requested to do so by his client or a court of law.
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The appraiser shall conform in all respects to the Code of Ethics and Standards and Procedures of Professional Appraisal Practice of the Association of Machinery and Equipment Appraisers.
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Advertising for or soliciting appraisal assignments in a manner, which is false, misleading or exaggerated, is unethical.
CONCEPTS OF VALUE EXPERIENCE
Market Value (Fair Market Value)
A professional opinion of the estimated most probable price expressed in terms of currency to be
realized for property in an exchange between a willing buyer and a willing seller, with equity to
both, neither being under any compulsion to buy or sell, and both parties fully aware of all relevant
facts as of the effective date of this appraisal report.
Market Value - In Place
A professional opinion of the estimated most probable price expressed in terms of currency to be
realized for property in an exchange between a willing buyer and a willing seller, with equity to
both, neither being under any compulsion to buy or sell, and both parties fully aware of all relevant
facts, as installed for intended utilization, as of the effective date of this appraisal report.
Forced Liquidation Value (Auction)
A professional opinion of the estimated most probable price expressed in terms of currency which
could typically be realized at a properly advertised and conducted public auction sale, held under
forced sale conditions and under present day economic trends, as of the effective date of the
appraisal report. Conclusions taken into consideration are physical location, difficulty of
removal, physical condition, adaptability, specialization, marketability, overall appearance and
psychological appeal. Further, the ability of the asset group to draw sufficient prospective buyers
to insure competitive offers is considered. All assets are to be sold on a piecemeal basis ‘as is’
with purchasers responsible for removal of assets at their own risk and expense. Any deletions
or additions to the total assets appraised could change the psychological and or monetary appeal
necessary to gain the price indicated.
Orderly Liquidation Value
A professional opinion of the estimated most probable price expressed in terms of currency which
the subject equipment could typically realize at a privately negotiated sale, properly advertised
and professionally managed, by a seller obligated to sell over an extended period of time, usually
within six to twelve months, as of the effective date of the appraisal. Further, the ability of the
asset group to draw sufficient prospective buyers to insure competitive offers is considered. All
assets are to be sold on a piecemeal basis ‘as is’ with purchasers responsible for removal of assets
at their own risk and expense. Any deletions or additions to the total assets appraised could change
the psychological and/or monetary appeal necessary to gain the price indicated.
New Replacement Cost Value
A professional opinion of the cost expressed in terms of currency, F.O.B. the manufacturer´s
plant, to purchase a new item of like quality and specifications. If such an item is unavailable,
the appraiser has used his or her best judgment in estimating a value as of the effective date of
the appraisal.
Desktop Opinion
A professional opinion of the appropriately defined value, expressed in terms of currency to be
realized by the sale of assets, in which the opinion is generated from lists and/or other
informational materials supplied to the appraiser and evaluated without the benefit of an actual
on site inspection. This opinion is not recommended for use in credit decisions. A desktop
opinion should be used to determine the need for an appraisal or the scope of an appraisal.
Feel free to contact us for a confidential evaluation.
