13th Apr 2018
Are you thinking about getting your plant valued? Are you unsure of what a plant valuation entails? We asked our expert valuers to give you some inside tips on what to expect and how to prepare.
1. What can you expect when we get to your plant?
Plenty of questions! The key to a good valuation is the quality of the information and the understanding the valuer can gain. We want to gain insight into not only the assets involved but the reason for the valuation. The value can change drastically depending on the valuation definition required.
2. How to best position yourself to get the best prices?
As with every sale, presentation matters. If the valuer can see an asset has been well cared for, has fully supporting documentation and (depending on the type of asset) a component history schedule you will be in a much better position to get a higher and more accurate valuation. The more supporting evidence there is the more a valuer can rely on facts rather than assumptions when making their calculations. Valuers are not necessarily technical experts in the type of assets being valued so the more information and guidance they receive about an asset, its performance and its specification the more accurate the valuation report will be and the more detailed the report will read. This makes the prices more accurate – so you know that you are getting the best price for your assets.
3. What we are looking for overall?
Information. The more the valuer knows, the better the valuation will be. Limited information will lead to a lot of assumptions and a range on values that may or may not accurately reflect the true worth of the assets.
For example, when being asked to put a value on a Toyota Hilux utility which description will lead to the more accurate valuation?
A. Toyota Hilux 2008 White
B. 2008 Toyota Hilux 4×4 Turbo Diesel, Manual, Crew Cab, 121,000km, Alloy Tray with drop down sides and mine specification light bar.
I think we all know the answer is B. We want to know as much as possible, do not hold back because it might seem irrelevant. Too much information is a much better position for our valuer to get accurate estimates than not enough.
4. Who will be showing up?
Gregsons Valuers are everything you would want a valuer to be! Fully Accredited American Society of Appraisers (ASA) Qualified, compliant with USPAP regulations and reporting and backed by public indemnity insurance. Gregsons have been in business for nearly 100 years and although our valuers are not that old, their experience and knowledge of a vast range of industries and businesses is second to none.