Excavator Appraisal (USPAP-Compliant)

USPAP-compliant excavator value opinions built from closed-sale comps filtered by ton class, hours band, undercarriage life, and attachment parity (coupler / thumb / buckets).

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Need a defensible excavator appraisal? We scope desktop vs on-site, then support the conclusion with closed-sale comps and photo-backed condition notes.

Google ReviewS

Nationwide Coverage • SINCE 2009

Court/Lender Ready • Closed-Sale Comps

What You Receive

A reviewer-ready excavator 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

PIN/serial, hour meter, ton class, boom / stick setup, track/UC type, attachments (coupler / thumb / buckets), and photos.

4. Condition Documentation

Undercarriage wear (tracks / sprockets / rollers / idlers), pins & bushings play, hydraulics / leaks, swing/travel notes, and supporting photos.

5. Market Support & Comps

Closed excavator sales/auction results in the same ton class + configuration, with source notes (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 Excavator Appraisal Process

We define the excavator’s market identity first, document the condition signals that move price, then reconcile against closed-sale comps with explicit adjustments.

Step 1 – Define the Assignment + Excavator Identity

We lock intended use/users, value premise, and effective date—then define the excavator as ton class + configuration (e.g., 20–24T class, long stick, steel tracks, coupler + hydraulic thumb). That identity statement becomes the comp filter.

Step 2 – Evidence Capture (Desktop or On-Site)

We document excavator value drivers with photos and notes: PIN/serial + hour meter, undercarriage wear, pins & bushings play, hydraulics / leaks / drift, swing slop / noise, final drive leaks, and a complete attachment schedule (bucket sizes, coupler, thumb, hammer lines).

Step 3 – Closed-Sale Comps + Reconciliation

We anchor on closed-sale comps in the same ton class/config, then normalize for hours band, year band, undercarriage life, condition deltas, geography, and attachment parity. Result? The report shows what moved value and why.

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  • “We use IronIndex as an early gut-check on collateral before credit committee. It catches outdated book values and gives us a cleaner story when we do order a full appraisal.”
    ~Senior Commercial Lender, Mid-Atlantic community bank
  • “I used to argue from dealer asking prices. Seeing what similar machines actually sold for, and how hours move the range, changed the way we talk about equipment value with our bank.”
    ~CFO, regional construction fleet
  • “For tax and restructuring work, IronIndex gives us a quick market lens. When the exposure is higher, we hand that same file to HEA and get a full USPAP-compliant appraisal.”
    ~Partner, CPA & advisory firm

Pricing & Turnaround

Excavator appraisal pricing is driven by scope + unit count + configuration/condition uncertainty. We can quote quickly once we know what must be defensible.

What usually increases scope (common excavator triggers):

  • Tracked UC wear uncertainty (needs better evidence or inspection)
  • Multiple value-moving attachments (coupler, thumb, buckets, hammer lines)
  • Complex configuration (long-reach, guarding, grade control)
  • “Hours unknown” or wear doesn’t match the hour meter

Turnaround time

  • Desktop: Fastest when we have PIN/serial + hour meter + undercarriage close-ups + attachment list up front
  • On-Site: Fastest when the machine is accessible and we can inspect UC wear + hydraulics + swing + finals in one visit
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Real comps, not book values

Built from appraisal & sale data

Bank & SBA lender–friendly

Supports loans, tax & buyouts

Desktop vs On-Site Excavator Appraisals

We recommend the lightest scope that still survives review. Desktop works only when the file can verify identity, condition, configuration, and control/location. If any of those are unclear, inspection becomes the defensible move.

Desktop

Online equipment appraisals work when your file has:

  • Verified ID: serial/PIN documentation that clearly matches the unit
  • Verified hours: credible hours evidence (and it passes the “wear makes sense” sniff test)
  • Verified configuration: what it is exactly (size class + key options + included attachments)
  • Verified condition evidence: recent photos/video that actually show the value drivers
  • Verified control/situs: where the excavator is and who has custody
Desktop Quote

On-Site

On-Site inspection is the default when any of these are true:

  • Collateral risk: thin equity / higher loan exposure / reliance on liquidation value
  • Documentation gaps: missing/unclear ID, questionable hours, dated or incomplete photos
  • Configuration drives value: multiple included attachments or specialty setup (e.g., quick coupler + hydraulic grab / “thumb”, grade control, guarding)
  • Condition is the swing factor: tracked undercarriage life is uncertain or not credibly shown
  • Control/situs is unclear: jobsite, out on rent, remote yards, or borrower schedule friction
On-Site Quote
BUT WAIT…

Some lending programs and lender standards can force inspection even if a desktop could be defended technically (e.g., SBA 504 used-equipment scenarios require on-site inspection, USDA B&I treats lack of on-site as a weakness in higher-value or control-weak cases).

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  • "IronIndex reports are professional and accommodating throughout the process."
    ~John S., Fleet manager

What Drives Excavator Value

Excavator values move on a small set of repeatable variables. We filter comps by the machine’s market identity first (ton class + configuration), then adjust for the condition signals that actually change what buyers pay - especially undercarriage life and attachment parity.

Value signal table

Value signalWhy it moves priceWhat we document / verify
Ton class / size class (mini, midi, 20–24T, 30T+)Different buyer pools, different demand, different comp universeModel, operating weight class, stick/boom class, counterweight notes
Hours band (and credibility)Hours drive remaining life expectations; “hours unknown” trades at a discountMeter photo, hour story consistency vs wear/year, service history when available
Undercarriage remaining life (tracks, rollers, sprockets, idlers)On tracked excavators, UC cost + wear can swing value materiallyClose-ups + remaining-life band (low / mid / high) and any recent UC work
Pins & bushings / linkage playSlop signals wear and future repair; also impacts buyer confidenceJoint play notes (boom/stick/bucket), grease condition, visible repairs
Hydraulics condition (leaks, function)Hydraulics are expensive; leaks or weak function reduce buyer bidsCylinder seep/leaks, hose condition, function notes if observed/reported
Swing + travel / final drivesMechanical issues here are high-cost risk itemsSwing slop/noise notes, travel motor/final drive leak checks, operating notes when available
Configuration (standard vs long stick / long reach / guarding)“Same model” comps aren’t comparable if configuration differsBoom/stick setup, guarding (forestry/demolition), auxiliary packages, quick coupler type
Grade control / GNSS / machine controlElectronics can add meaningful value—but only if present and workingSystem type, included components, proof it’s installed (not “prewired”)
Attachments included (parity matters)Buckets/coupler/thumb/hammer lines change what a buyer paysAttachment schedule: bucket sizes, coupler, hydraulic thumb, aux/hammer lines, photos
Geography / market liquidityRegional demand affects time-to-sell and clearing pricesLocation/situs, local demand context, comp geography selection notes

How we reconcile

We anchor the opinion on closed-sale excavator comps in the same ton class and configuration, then normalize for hours band, model year band, undercarriage life, attachment parity, and geography. Explicitly stating what moved value (example: UC wear delta, or coupler + thumb parity), not just "market conditions."

FAQ

Not seeing your exact machine or unsure if IronIndex™ is enough for this deal?

Send us your equipment list and we’ll tell you whether quick pricing data will do or if you’re better off with a full appraisal.

Or, call us (844) VAL-UATE!

Talk to a HEA Appraiser

Get a professional appraisal for your excavator to determine its fair market value, support resale or insurance claims, and ensure accurate financial reporting. An expert appraisal from Heavy Equipment Appraisal helps you avoid underpricing, overpaying, or compliance issues related to asset depreciation and tax documentation.

The primary factors that determine your excavator’s value include age, operating hours, brand, model, maintenance history, attachments, and current market demand. Other key variables are machine condition, service records, and resale trends within your region or equipment class.

A desktop excavator appraisal is acceptable only when your file verifies identity, hours, configuration, condition evidence, and control/situs. Require an on-site inspection when any item is unclear or when collateral risk is higher, documentation is thin, configuration or condition drives value, or control/location is uncertain. Some programs still force inspection (e.g., SBA 504, USDA B&I).

Provide a desktop excavator appraisal file that verifies five items: ID, hours, configuration, condition evidence, and control/situs. Send serial/PIN documentation, credible hour proof that matches visible wear, full specs (size class, options, and all included attachments), recent photos or video that show value drivers, and the excavator’s exact location plus who has custody.

We document the excavator’s identity + configuration (ton class, boom/stick setup, aux hydraulics, machine control) and the condition signals reviewers care about (undercarriage remaining life, pins/bushings play, hydraulics leaks/function, swing/travel).

Then we reconcile value against closed-sale comps with attachment parity (coupler/thumb/buckets/hammer lines) stated explicitly. The report is reviewable without “trust me” language.

Undercarriage remaining life is one of the largest excavator-specific value drivers and is documented as a condition signal, not a throwaway note. We record UC wear indicators (tracks/rollers/sprockets/idlers) and reconcile against comps with similar UC condition.

Most lender/collateral reviews look for assignment definition, effective date, scope performed, equipment identification, condition documentation, market support, and a clear reconciliation.

We also make configuration and included attachments explicit (so the bank isn’t underwriting the wrong machine), and we document limiting conditions when anything cannot be verified.

For a desktop excavator appraisal, we typically need PIN/serial, hour meter photo, undercarriage close-ups, attachment list/photos, and current location (situs).

If the machine is hard to access, we’ll tell you exactly what’s missing and whether we can tighten assumptions or should switch to hybrid/on-site.

For a desktop excavator appraisal, we typically need PIN/serial, hour meter photo, undercarriage close-ups, attachment list/photos, and current location (situs).

If the machine is hard to access, we’ll tell you exactly what’s missing and whether we can tighten assumptions or should switch to hybrid/on-site.

For a desktop excavator appraisal, we typically need PIN/serial, hour meter photo, undercarriage close-ups, attachment list/photos, and current location (situs).

If the machine is hard to access, we’ll tell you exactly what’s missing and whether we can tighten assumptions or should switch to hybrid/on-site.