Heavy Equipment Appraisal
Defensible heavy equipment appraisals with a clear scope, documented condition, and market-backed comps as of a stated effective date.
Built to stand up to review.
Your appraiser: Rhett Crites. I review every quote request. Reply in 1 business day (usually faster).
Typical response within 1 business day.
What You Receive
A reviewer-ready heavy equipment appraisal report you can hand to a lender, CPA, auditor, or court (without back-and-forth).
1. Reviewer Summary Page
Intended use/users, scope, value premise, effective date, and the final conclusion → up front.
2. Scope & Inspection Disclosure
What was inspected (or not), by whom, and how condition was determined.
3. Equipment Identification & Specs
Serials, hours/miles, attachments, configuration, and photos.
4. Condition Documentation
Observed wear, functionality notes, and supporting photo evidence.
5. Market Support & Comps
Closed sales/auction results with source notes and relevance (listings only as secondary context).
6. Valuation Rationale & Adjustments
How comps were normalized (hours, year, condition, geography, attachments).
7. USPAP Certification & Limiting Conditions
Signed certification, assumptions, and disclosures a reviewer expects.
If the number needs to be defended, our reports show the scope, evidence, and logic (not just a price).
Our USPAP Appraisal Process
We define the assignment first (use, users, value premise, and effective date), then scope the work and support the conclusion with market evidence. Delivered in a written, review-ready report.
Step 1 – Define the Assignment
We confirm intended use and intended users, set the value premise (FMV / OLV / FLV / salvage), and lock the effective date.
Step 2 – Scope & Evidence Plan
We set scope (desktop or on-site) and document what was inspected (or not) and by whom. Then we collect IDs, photos, hours, and condition support.
Step 3 – Analyze & Deliver the Report
We apply the appropriate valuation approach(es) & reconcile the evidence to a final conclusion. You receive a written USPAP report w/ certification, assumptions, and limiting conditions.
Full methodology and report structure here:
Equipment Appraisal Cost & Turnaround Time
Equipment appraisal cost and turnaround time are scoped to the assignment, so the report is defensible and not misleading about what was (and wasn’t) done.
How pricing works:
We quote after confirming intended use/users, value premise, effective date, and scope (desktop vs on-site). Those decisions determine the level of inspection, evidence, and reporting detail required.
What drives price most:
Your scope should match the assignment: intended use/users, effective date, and how much condition certainty the review requires. Choose Desktop when documentation is strong; choose On-Site when condition is high-stakes, disputed, or hard to capture in photos.
Desktop (Online)
Rush / Deadline-Driven
On-Site
Desktop vs On-Site Appraisals
Equipment appraisal cost is scoped to the assignment, so the report is defensible and not misleading about what was (and wasn’t) done.
Desktop (Online) Equipment Appraisal
Best when you have clean records and strong photos. We value from verified market evidence and your documentation, then clearly disclose what was (and wasn’t) inspected so the report is reviewer-safe.
Best for:
- Single machines or small groups in one location
- Lender/CPA/internal planning where documentation is solid
- Tight timelines when on-site scheduling isn’t practical
- Assets with clear IDs, hours, and condition photos
What we need from you:
- Asset list + serial/VIN (if applicable) + hours/miles
- Photos (all sides + hour meter + serial plate + major wear points)
- Location + attachments/configuration notes
- Deadline + effective date
Typical quote turnaround after intake
Desktop engagements
Units valued
On-Site Equipment Appraisal
Best when condition must be documented by the appraiser. We inspect in person, verify identifiers and configuration, document observed condition, then support the value conclusion with market evidence and explainable adjustments.
Best for:
- Fleets, multi-unit schedules, or multiple locations
- Higher-stakes reviews (SBA, litigation, disputes, insurance claims)
- Questionable/unknown condition, incomplete photos, or missing IDs
- Equipment with complex configuration or attachments that change value
What happens on-site:
- Verify serials, hours, configuration / attachments
- Photograph condition and key wear points
- Note observable defects / limitations
- Align evidence + adjustments to what was actually observed
On-site engagements
States/regions covered
Rush requests
About Heavy Equipment Appraisal
$$$ BILLIONS worth of equipment appraised since 2009
We appraise heavy equipment, and only heavy equipment.
HEA is a USPAP-compliant heavy equipment appraisal firm. Our reports are used by SBA lenders, commercial banks, CPAs, attorneys, and insurance professionals when the value conclusion needs to stand up to review.
We don’t buy or sell equipment, and we don’t run an auction house. Our job is to deliver an independent, supportable opinion of value with a clear scope, documented condition, and market evidence you can trace.
Since 2009, we’ve appraised 206,060 equipment units across 32 U.S. markets (from single machines to fleet portfolios) using the same field-to-report discipline we apply on every assignment.
Typical engagements include lending, tax/estate, buy/sell, litigation, insurance, and internal planning. Scoped to the intended use, intended users, and effective date.
The same market evidence work that supports our appraisals also powers IronIndex™, our internal pricing dataset for used heavy equipment valuation.
About Rhett | Credentials | Contact
Equipment Types We Appraise
Choose your category to start an appraisal quote and see what documentation we’ll need.
Excavator Appraisal
Skid Steer & CTL Appraisal
Dozer Appraisal
Dump Truck Appraisal
Tractor Appraisal
Oilfield Equipment Appraisal
Forklift Appraisal
Crane Appraisal
Semi-Truck Appraisal
See a list of heavy equipment types we appraise.
Who Uses Our Appraisals
Our equipment appraisals and IronIndex™ values don’t live in a vacuum. They’re read, questioned and relied on by people who make real decisions with real consequences. Lenders, fleet owners, CPAs, attorneys, insurance teams and turnaround professionals use our numbers to document collateral, support negotiations and defend their position when the values are challenged.
Lenders and Credit Teams
SBA and commercial lenders use our equipment appraisals to document collateral support, set advance rates, and justify loan decisions to internal credit committees and regulators. They need reports that clearly explain methods, data sources, and value conclusions.
What lenders look for in our reports:
- Plain-language explanations they can share with credit and examiners
- Clear identification of each asset and its role in the business
- Market-supported values tied to recent sales and auction data
- Explicit value type (fair market, orderly liquidation, forced sale, etc.)
Fleet Owners & Operators
Fleet owners and operators use appraisals to understand what their iron is really worth (beyond book numbers or dealer estimates). They need a realistic picture when they’re buying, selling, consolidating yards, or evaluating whether to hold, rebuild, or replace key units.
How fleet owners use our values:
- Planning buy–sell or trade cycles for major machines
- Comparing “run it longer” vs. replacement scenarios
- Supporting internal capital allocation and budgeting
- Documenting values for insurance schedules and risk reviews
CPAs & Financial Advisors
CPAs and financial advisors rely on equipment appraisals when they need supportable numbers for financial statements, tax planning, and transaction work. They’re not looking for hype, they’re looking for a clear trail from assumptions to conclusions.
Where CPAs use equipment appraisals:
- Purchase price allocations and business combinations
- Estate, gift, and trust planning involving machinery-heavy businesses
- Impairment testing and balance sheet reviews
- Support for tax positions tied to equipment values
Attorneys & Legal Professionals
Attorneys and legal professionals use our appraisals when equipment values are central to a dispute or agreement. They need reports that can stand up to questioning, be understood by judges and mediators, and clearly separate facts, assumptions, and opinions.
Legal matters where our reports are used:
- Shareholder and partner disputes involving equipment-heavy businesses
- Divorce cases with significant machinery and fleet assets
- Business breakups, buyouts, and forced sales
- Litigation support where opposing parties disagree on value
Insurance Carriers & Risk Managers
Insurance carriers, adjusters, and risk managers use our equipment appraisals to document values before a loss, support claims after an event, and validate whether existing schedules still reflect reality. They need clear, defensible numbers when negotiating with insureds, reinsurers, and internal stakeholders.
Where insurance teams use equipment values:
- Establishing and updating equipment schedules and limits
- Supporting loss and damage claims after fires, accidents, or weather events
- Validating reported values during underwriting and renewals
- Comparing repair, rebuild, and replacement scenarios for major units
Turnaround & Restructuring Professionals
Turnaround consultants and restructuring professionals rely on equipment appraisals when they’re stabilizing a distressed business, negotiating with lenders, or planning an orderly wind-down. They need a grounded view of what the iron is really worth under different scenarios, not just optimistic book numbers.
How turnaround teams use our reports:
- Assessing collateral coverage for existing and proposed credit facilities
- Prioritizing which assets to keep, idle, sell, or scrap
- Supporting negotiations with lenders, investors, and key vendors
- Modeling outcomes under fair market, orderly liquidation, and forced-sale assumptions
If you’re in any of these roles and need defensible equipment values for an upcoming decision, you can get an appraisal quote today.
Where We Provide Appraisals
We provide heavy equipment appraisals across the United States. Most projects start as desktop (online) assignments, with on-site inspections scheduled when equipment condition, concentration, or risk justify a visit. The goal is simple: deliver a USPAP-compliant report that holds up, no matter where your machines are located.
Nationwide Coverage
We appraise equipment in all 50 states, from large metro fleets to rural yards and farm communities.
- Desktop appraisals are often the fastest, most cost-effective choice when equipment details and photos are available.
- When equipment is highly concentrated, high-value, or part of a complex case, we travel on-site to inspect units in person.
Typical Locations We Serve
We regularly appraise equipment for contractors, fleet owners and operators in and around major metros, regional hubs and rural communities.
Whether your machines are at a single yard, spread across multiple job sites, or stored on farms and industrial facilities, we can scope a desktop or on-site appraisal that fits your situation.
Proof / Case Results / Testimonials
Our reports don’t just check a box, they get used in real decisions. SBA and community lenders, local governments, contractors, turnaround teams and donors have used our equipment appraisals to support lending, purchases, and charitable contributions. Here are a few examples of how our work has been put to use:
Community bank lending
“I was very pleased with the speed and thoroughness of your work and will recommend you to others needing appraisal services.”
Case result: Supported a loan modification for a local farm with collateral coverage of roughly 300% of the loan, using a desktop appraisal of ~90 pieces of equipment and trucks that satisfied internal audit, credit and appraisal review requirements.
Local government finance
“The information provided was timely and assisted tremendously in our decision on the machine. We will look to Heavy Equipment Appraisal for future needs of our organization.”
Case result: Enabled the Solid Waste Committee to purchase used Bomag compactors within the 5% price tolerance required by Tennessee law, based on a series of desktop appraisals on landfill compactors and a dozer documenting fair market value under Tennessee Code Annotated.SBA / business lending
“Thanks for the quick turn and the professional approach to getting this done for all concerned.”
Case result: Allowed CRF to satisfy SBA requirements and close a business loan before month end, using a rush on-site appraisal of a 100+ unit excavation fleet after a prior desktop review was rejected by the SBA.
Construction contractor
“I am looking to buy another machine & NEED your equipment appraisal services again.”
Case result: Helped his credit union finance two used machines at prices thousands below supported fair market value, through desktop appraisals of a 2005 Ingersoll-Rand ZX-75 midi excavator and a 1995 Cat D3C LGP dozer that reinforced his negotiations.Non-profit & tax documentation
“Their staff is very professional, responsive and detailed. We couldn’t be more pleased and highly recommend their services.”
Case result: Documented a like-kind charitable contribution to a religious non-profit for income tax reporting, via a desktop appraisal of a low-hour 2007 Case 580M II loader backhoe and a completed IRS Form 8283.Turnaround / partner buyout
“The report looks good to everyone. Thank you for being so professional and accommodating throughout the process.”
Case result: Provided a USPAP-compliant third-party valuation to price a partner buyout, with an on-site appraisal of ~150 trucks, trailers, loaders, tractors and lifts in New Mexico that was shared with the owners’ attorney, accountant and lenders.
If you’re facing a similar lending, tax or transaction decision and need defensible equipment values, you can start an appraisal now.
IronIndex™: Real-World Pricing Data for Used Heavy Equipment
What is IronIndex™?
IronIndex™ is HEA’s in-house pricing database for used heavy equipment. It blends real appraisal files with recent auction and dealer sales so you can see what similar machines are actually selling for, not just what a book or guide says they’re worth.
How we’re building IronIndex™ for you:
- Real appraisal files from:
- Banks
- CPAs
- Attorneys
- Fleet owners
- Recent auction and dealer sales for comparable machines
- Adjustments for age, hours, condition, options, and region
- Ongoing reviews by a certified heavy equipment appraiser
Browse sample values for common equipment types:
Every IronIndex™ data point starts with a real appraisal or market transaction. It’s a quick lens on the market, NOT a replacement for a USPAP-compliant appraisal report when you need a full valuation.
Browse sample values for common equipment types, then request a certified appraisal when you’re ready.
Tell us what you own, where it’s located and why you need a heavy equipment appraisal. We’ll respond within one business day with pricing and next steps for a desktop or on-site assignment.