APPRAISALS - INVENTORY EVALUATIONS
We are frequently asked to appraise inventories for advance rate purposes. First, lets get our terms right.
There is a difference in an appraisal and an evaluation.
An appraisal is an opinion of what an item or items are worth to a buyer at a particular point in time. Given that inventories are in constant flux, with the quantities changing by the hour or minute (you hope), we do not believe it is possible to accurately “appraise” most inventories.
We chose to perform evaluations. It may seem like splitting hairs but there is a difference. Our inventory evaluations focus on the types of inventory determined by turn rate as opposed to the inventory as a whole.
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