The United States is one of the largest agricultural producers in the world and has over 2 million farms. With so much farming activity that involves expensive equipment, farm equipment appraisals keep equipment and machinery appraisers busy.
Farm equipment appraisals are often required for:
- Determining collateral value when getting a bank loan
- Valuing equipment for auction or other sale
- Determining value for insurance purposes
- Farm operation acquisition
There are too many types of farm equipment to list, but here are some of the farm items commonly appraised by equipment appraisers:
- Tractors, including utility tractors and row-crop tractors
- Cotton strippers
- Planters and seeders
Qualified equipment appraisers are able to appraise all sorts of farm equipment and brands, including John Deere, Caterpillar, Kubota, and McCormick.