The types of value that an equipment appraiser can calculate are called “Levels of Trade” in the appraisal field. The Levels of Trade that equipment appraisers are able to determine are the following:

• FMV – Fair Market Value (In Continued Use, Installed, Fair Market Value)
• OLV – Orderly Liquidation Value
• FLV – Forced Liquidation Value

Fair Market Value – In Continued Use

Fair market value in continued use is the estimated amount, expressed in terms of money, that may be reasonably expected for a property in an exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell, and both fully aware of all relevant facts, including installation, as of a specific date and assuming that the business earnings support the value reported. This amount includes all normal direct and indirect costs, such as installation and other assemblage costs to make the property fully operational.

Fair Market Value – Installed

Fair Market Value Installed is the estimated amount, expressed in terms of money that may reasonably be expected for an installed property inan exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell, and both fully aware of all relevant facts, including installation, as of a specific date. Amount includes all normal direct and indirect costs, such as installation and other assemblage costs, necessary to make the property fully operational.

Fair Market Value

Fair Market Value is the estimated amount, expressed in terms of money (cash or financing terms equivalent to cash), that may reasonably be expected for a property in an exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell, and both fully aware of all relevant facts, as of a specific date.

Orderly Liquidation Value

Orderly Liquidation Value is the estimated gross amount, expressed in terms of money, that could be typically realized from a liquidation sale, given a reasonable period of time to find a purchaser (or purchasers), with the seller being compelled to sell on an “as is,” “where is” basis, as of a specific date. *Time to market and advertise auction / sale.

Forced Liquidation Value

An opinion of the gross amount, expressed in terms of money, that typically could be realized from a properly advertised and conducted public auction, with the seller being compelled to sell with a sense of immediacy on an as‐is, where‐is basis, as of a specific date. Referred to as “fire sale” – no time to market, pennies on the dollar, quick to dispose of items quickly.