Preferred Machine Tools
Showroom: 101 W Quitman * PO Box 220 * Alba, TX 75410 Toll Free 1.888.263.8969
|
Showroom: 101 W Quitman * PO Box 220 * Alba, TX 75410 Toll Free 1.888.263.8969
|
|
|
With well over (27) twenty-five years of experience in the machine-tool industry, I am confident that you will find my qualifications and experience a valuable tool for your appraisal requirements.. As an experienced pre-owned (used) machinery dealer, buying and selling equipment regularly, I will be able to provide you with appraisal that will best fulfill your needs. You have the option of either a Market Value, Forced Liquidation Value, Orderly Liquidation Value, or a Desktop Opinion (Please refer to the attached Definition of Values). With the exception of the Desktop Opinion (as defined) I will personally view, photograph and prepare a listing of all the machinery and equipment located at the shop location where the equipment is and establish a value based on a complete investigation into the market conditions, prepare a thorough analysis of the machinery and equipment values, and finally provide you with a detailed Certificate of Appraisal (please refer to attach Standards and Procedures attached for outline). In addition, I am pleased to enclose my personal qualifications summary, as well as, The Code of Ethics and Standards and Procedures of the Professional Appraisal Practice for consideration. We trust this information will prove favorable and that we may be of further service to you, should you require any additional information, please feel free to call on me. Judith Griggs Experience Summary: I have been involved in the buying and selling of new and used machine tools, either as an agent or owner, for the past 27 years. Starting at Ron Smith Machinery Co., Inc., Houston, Texas in 1980, selling primarily new equipment then setting up a new and used equipment division in North Texas. In 1991, I worked with a rebuild/retrofitter in Euless, Texas learning procedures and cost involved with rebuilding/retrofitting machine tools. On August 1, 1996 I opened Preferred Machine Tools and now as founder/president of Preferred Machine Tools, we buy, sell, trade, broker, consign, liquidate and appraise CNC and conventional machine tools on a regular basis. We currently occupy 2,800 square feet of office/showroom located at 101 W. Quitman in Alba, Texas as well as additional warehousing/showroom facility in Fort Worth. We also have experience in complete plant liquidation including such facilities as J. S. P. Manufacturing, Boyd, Texas -- Precision Enterprises, Fort Worth, Texas, Dalmatic, Inc. Dallas, Texas and Cyco Mfg. Arlington, Texas and other bank repossession projects. We are familiar with virtually every metal cutting machine on the market today. Education: University of Houston -- Business Management and Accounting Association of Machinery and Equipment Appraisers CNC Equipment and Conventional: manufacturers training, Brown and Sharp, Eltee Pulsitron, Ecotech, Mitsubishi, Daewoo, and Milltronics. CNC programming: Society of Manufacturing Engineers CNC controls: Fanuc, Dynapath, Centurion and Mitsubishi Manufacturing: Statistical Process Control, Theory of Constraints -- Doctor Goldrat, Introduction to Jet Engines Association: Machinery Dealer National Association Fort Worth Chamber of Commerce National Association Women Business Owner National Association Female Executive Rains County Chamber of Commerce Awards: Mayors Award Medium Size Small Business (02/28/00) Fort Worth, Texas National Association of Woman Business Owners-"Most Accomplished" Working Woman Magazine Nominee Overcoming Obstacles 2001 Fort Worth Chamber – Small Business of the Year 2001 Fort Worth Business Press Women of Influence – Great Women of Texas 2001 Board Affiliations: Former National Association of Woman Business Owners Vice President Fort Worth Women’s Business Center- Advisory Council Alba Texas Economic Development Corporation APET-SPCA Wood County Certifications: 100% Woman Founded and Owned by Southwest Women’s Business Council Previously Certified HubZone Federally Certified SBA Previously Certified 8(a) Small Disadvantaged Business Certified SBA Small Disadvantaged Business Certified SBA Native American Indian (Osage) I. Definition of Values: Market Value -- Fair Market Value A professional opinion of the estimated most probable price expressed in terms of cash and US Dollars to be realized on property in exchange between a willing buyer and willing seller, with equity to both, neither being under any compulsion to buy or sell and both parties fully aware of all relevant facts as of the relevant facts as of the effective date of this appraisal report. Market Value -- In Place A professional opinion of the estimated most probable price expressed in terms of cash and US Dollars to be realized for property in exchange between a willing buyer and a willing seller, with equity to both, neither being under any compulsion to buy or sell, and both parties fully aware of all relevant facts, as installed for intended utilization as of the effective date of this appraisal report. Forced Liquidation Value -- Auction A professional opinion of the estimated most probable price expressed in terms of cash and US dollars which could typically be realized at a properly advertised and conducted public auction sale, held under forced sale conditions and under present-day economic trends, as of the effective date of the appraisal report. Conclusions taken into consideration are physical location, difficulty of removal, physical condition, adaptability, specialization, marketability, overall appearance and psychological appeal. Further, the ability of the asset group to draw sufficient prepares prospective buyers to ensure competitive offers is considered. All assets are to be sold on a piecemeal basis "AS IS" with purchasers responsible for removal of assets at their own risk and expense. Any deletion or additions to the total assets appraised could change the psychological and/or monetary appeal necessary to gain the price indicated. Orderly Liquidation Value A professional opinion of the estimated most probable price expressed in terms of cash and US. dollars which the subject equipment could typically realized at a privately negotiated sale, properly advertised and professionally managed by a seller obligated to sell over extended period of time usually within six to twelve months, as of the effective date of the appraisal report. Further, the ability of the asset group to draw sufficient prospective buyers to ensure competitive offers is considered. All assets are to be sold on a piecemeal basis "AS IS" with purchasers responsible for removal of assets at their own risk and expense. Any deletion or additions to the total appraised could change the psychological and/or monetary appeal necessary to gain the value indicated. New Replacement Cost Value A professional opinion of the cost, expressed in terms of cash in US dollars FOB the manufactures plant, to purchase a new item of like quality and specifications. If such an item is unavailable, the appraiser has used his or her best judgment in estimating a value as of the effective date of the appraisal. Desktop Opinion A professional opinion of the appropriately defined value, expressed in terms of cash and US dollars to be realized by the sale of equipment, in which the opinion is generated from lists and/or other informational material supplies to the appraiser and evaluated without the benefit of actual on-site inspection. This opinion is not an appraisal and should not be used, as an appraisal is not recommended for using credit decisions. A desktop opinion is used to determine did need for an appraisal or the scope of appraisal.
II. Standards and Procedures of Professional Appraisal Practices The following the constitutes what is the requirements of the appraisal and all appraisals and reporting practices: A. A written contract or purchase order, prior to commencement of the appraisal assignment, which clearly describes the appraisal fee, appraisal location and the assignments scope and nature. B. A clear understanding of the purpose of the appraisal assignment, subsequently defining that the purpose and the intended use of the report. C. A disclosure to the client of his or her degree of the expertise and experience. A disclosure to the client that determination of values are understood to be the opinion of the appraisal and his or her opinion cannot be interpreted as a guarantee of value. A justification of his or her opinion of value. This justification should state, the information considered, the appraisal procedures followed, and the reasoning that supports the analysis, opinions, conclusions and valuations as reported in the appraisal. A support for authoritative opinions of values such as knowledge, training, personal observations and analysis. A clearly written report furnished to the client containing the following: 1. Confirmation of request including name of the individual requesting appraisal report. 2. Location of machinery and equipment or assets appraised, company name or division and address a facility. Name of the individual who personally inspected the machinery and equipment, the date that the items were viewed, the effective date of the appraisal and the date of the appraisal report was prepared. Statement of any assumptions or limited factors that may affect the appraisal, disclose any apparent or known of an extraordinary conditions and indicate any impact on value which may include "highest and best use analysis". 5. Assumptions and limiting conditions are to be grouped together in identified section of the report. 6. A statement of objectives of the appraisal and a clear definition of values on which the appraisal report is based. A statement that fees for the appraisal or not contingent upon values reported. A statement in the appraisal report indicating the appraisers and/or any officer of his company's present or future interest in the machinery and equipment A statement of the appraiser's qualifications, which should include his or her familiarity and knowledge of the machinery and equipment with his or her years and business. A clear description of each asset appraised, listing significant value characteristics, which may include, but not be limited to machine type, size for capacity, serial number, age accessories or tooling. Each item should be identified either that asset number or machinery number used by the client, or a numerical sequence assigned to each asset by the appraiser. 11. A statement in the cover letter of the appraisal report indicating the selected evaluation approach. 12. A value to each item appraised and a total dollar value of all assets appraised. Where appropriate: a total value for a group of assets with each individual major item listed, or a total value for a group of assets without necessarily listing each individual asset. 13. The effective date, a date disclosed in the appraisal, occurring after actual viewing of the machinery and equipment when all available facts are considered resulting a professional opinion of value. The effective date should be as close to the actual viewing date as possible, allowing sufficient time to consider all factors available to formulate a professional opinion of value. The effective date should not be back -- dated nor be a projection of values that are subjective in nature and cannot be documented by the appraiser. The actual date of the viewing of the items should also be disclosed in the appraisal report. 14. Each written machinery and equipment appraisal must contain a certification This record must be kept for at least five years after preparation or at least two years after final disposition or any judicial proceedings in which testimony was given which will contain both a copy of the appraisal furnished to the client and any substantiating data used in arriving at the opinion of value. III. Code of Ethics and Standards The appraiser shall conduct himself or herself in all respects according to the Code of Ethics and Standards and Procedure of Professional Appraisal Practice. Code of Ethics: This Code of Ethics contains principles to govern each individual appraiser's conduct and practice. It is each member's duty to adhere to the letter and spirit of his or her practice according to this Code of Ethics. Each individual is obligated to: 1. Conduct his or her appraisal activities in a professional manner, demonstrating the highest level of integrity, which will reflect credit upon herself. 2. Accept only those assignments that he or she is competent to perform and has the knowledge and ability to perform in a professional manner. 3. Make his or her client fully aware of any interest he or she has in the machinery or equipment to be appraised. The appraiser must state clearly that his or her opinion of values is unbiased and objective. These opinions must not be prejudiced by past, present or any future interest in the machinery and equipment appraised. It is a violation of this Code of Ethics to formulate opinions of value that may be subjective or self-serving, or that are based on any interest that may affect the validity of the appraisal. 4. Base compensation paid for an appraisal on the nature and scope of the appraisal. The appraiser shall not derive compensation for an appraisal contingent on values pre-determined by the client. The payment of undisclosed fees, commissions or things of value in connection with the procurement of appraisal, review or consulting assignments is unethical. 5. Prepare the appraisal report personally express opinions in it that are his or hers and not that of another party, unless specifically stated in the report that another Appraiser or Adviser has been consulted and whether or not that person has been compensated for those opinions. The amount of compensation need not be stated, only that compensation or none has been committed. 6. Hold all appraisals in strict confidence with his or her client, and shall not furnish it to another party unless specifically authorized to do so by the client or a court of law. 7. Adhere to these standards even when signing an appraisal report on the line over the words "Review Appraiser". If more than one person signs the report, this certification must clearly specify which individuals did not make a personal inspection of the property. 8. Advertising for or soliciting appraisal assignment in a manner, which is false, misleading or exaggerated, is unethical.
|
|
Contact Information"Positive People Creating Positive Results"Send mail to
webmaster@preferredmachine.com with questions or comments about this web
site. |
