When interviewing potential appraisers, ask about their turnaround time, fee structure, and whether their reports have been accepted by your intended audience. A qualified appraiser should readily provide references and examples of their work.
Important: Legitimate appraisers never base their fees on a percentage of the appraised value. This practice violates professional standards and creates obvious conflicts of interest.
Working with AppraiseItNow ensures you receive USPAP-compliant restaurant equipment appraisals from certified professionals with extensive commercial kitchen experience. Our nationwide network of qualified appraisers understands the unique challenges of restaurant valuations and delivers reports accepted by the IRS, courts, lenders, and insurance companies. Whether you're buying, selling, financing, or protecting your restaurant investment, our comprehensive appraisals provide the documentation and peace of mind you need to move forward confidently. Discover the benefits of having professional restaurant equipment appraisals for your business.
Restaurant equipment appraisal costs typically range from $1,500 to $5,000 depending on the size and complexity of your operation. Pricing varies based on the number of items, their complexity, the number of locations, and whether an on-site inspection is required. Certified, USPAP-compliant reports generally cost more than informal dealer estimates but are the level of documentation lenders, insurers, and courts typically require.
Restaurant equipment appraisals typically take 7-14 business days to complete from start to finish. The timeline depends on scheduling the inspection, how quickly you can provide required documentation, and the size of your equipment inventory. The on-site inspection itself usually takes 2-4 hours depending on your restaurant's size and complexity.
Look for appraisers with professional designations from recognized organizations like the American Society of Appraisers (ASA), Association of Machinery and Equipment Appraisers (AMEA), or Certified Appraisers Guild of America (CAGA). Ensure their reports are USPAP-compliant and have been accepted by lenders, insurers, courts, and the IRS. Experience with commercial kitchen operations is also important for accurate valuations.
Restaurant equipment should typically be reappraised every 2-3 years to keep values current for loans, insurance, and financial reporting. You may need a new appraisal sooner if you significantly remodel, purchase major new equipment, change insurers, or before major business changes like sales, refinancing, or insurance policy renewals.
