Methodology and Process
Appraisal preparation process used by Max Hartle Co.

1. We've assembled an appraisal team with combined experience in excess of 45 years, and with experience in nearly every phase of personal property assets.  This experience has been supported by excellent research skills, and every effort is made to use that experience and expertise to make sure that every appraisal we do is as accurate as possible.
    
2. When we receive an appraisal request, we begin by familiarizing ourselves with the request, and, if necessary, the industry it is involved in.  We may draw from information provided to us in the request, from industry experts, from local, state or national government agencies or trade associations, from trade publications, or from local vendors and distributors.
    
3. Nearly every actual appraisal begins with an on-site visit where the assets to be appraised are viewed.  We gather as much information as possible about the items including manufacturer, model, age, Serial Number, special functions or capabilities, condition, obsolescence, etc.  In addition we document nearly every item with digital pictures to use in the research process as well as to include as a part of the finished appraisal.
    
4. After seeing the equipment and gathering all of the data we can about it, we then begin the research process.  During that process the assets are valued based on the value approach requested in the appraisal,  Those value approaches normally include: Current Market Value (value in use to the present owner where-is & as-is), Orderly Liquidation Value (value in a liquidation where the owner is typically involved in a period of 90-120 days), Forced Liquidation Value (value where the owner is typically not involved and the sales circumstances are normally under stress conditions), Cost Value (what the cost would be to replace it), etc.  Irregardless of the approach requested, we try to gather solid data from multiple sources that will provide input to establish the values of the item.  Ofttimes during that process we visit with manufacturers and distributors who may be personally knowledgeable about the specific item we are researching.  We make it a policy to not identify our customers, but some times manufacturers/dealers will ask us for a Serial Number so they can tell us exactly what the unit is worth, and from their records they will recognize who owns that piece of equipment.  We continue that research process gathering value information until we feel we have enough reliable data to establish the appropriate value.
    
5. During the research process, the accumulated research data is compiled into a appraisal draft document developed in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP), and customized for the particular appraisal that is being done.
    
6. After gathering all of the research data, we meet together as a staff.  The draft appraisal document is reviewed thoroughly.  The research information for each item is analyzed and discussed, and a final value for each asset is established, based on the value approach requested by our customer.  The intent of this review/discussion is to challenge the research data, make correct conclusions, and confirm the accuracy of the asset value.  Once all of the individual asset values have been established and the team feels the data is accurate and complete, the individual asset values are totaled to establish a combined total asset value.
    
7. As a part of the team analysis of the appraisal, the supporting documents necessary for each appraisal are prepared, reviewed, and included in the appraisal package.  The combined package is reviewed for completeness, and signed by the appraisers.  We include signatures on the appraisal of every member of the staff that has been involved in any step of the appraisal process, for the customers information as well as for responsibility on the part of the team.
    
8. The complete appraisal package is presented to the client in printed form as a complete package.  Normally this is done through the U.S. Postal Service.  We're happy to accommodate requests to call the client with a completed value figure or to electronically provide a copy of the written appraisal portion via fax or e-mail to save time until the complete packet arrives.  We've also been known to hand deliver the complete package in cases of emergency.

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