Why are Appraisals Important?
The business and financial worlds have undergone constant change over the past few years. Financial institutions and business owners are demanding a heightened awareness of the values of their customers or their own assets. This data and knowledge it provides is crucial to help develop their strategies for growth and success. Current and accurate information is important to help deal with standard and accelerated depreciation, market value, bonding, insurance, and cash flow management.
How can DSA Help?
Don Smock Auction Company, Inc. has been preparing appraisals since 2004 throughout the Midwest. We have done appraisals for numerous business owners, banks, other financial institutions, bankruptcy courts, accounting firms and attorneys. Here are a few financial institutions we have had the pleasure to work with: Old National Bank, First Merchants Bank, 1st Source Bank, Star Financial Bank and many more. Some of the business we have worked with include: Atlas Excavating, Milestone Contractors, LLC, Gradex, Inc. and many more.
DSA has multiple staff members who have graduated with their General Personal Properly Appraiser (GPPA) designation and that are Uniform Standards of Professional Appraisal Practice (USPAP) compliant. This allows us to manage multiple projects, and meet or exceed requirements necessary to appraise assets in a knowledgeable, professional, and timely, manner. The combination of our extensive appraising experience, GPPA and USPAP Credentials assure our clients that our inspections and appraisal reports are accurate and can be counted on. We have experienced exponential growth in the demand of appraisal requests including both the asset and lending side of the financial industry and we see that trend continuing.
Reasons for Appraisals:
- Secure Loans
- Determine if it Should be Sold
- Settle Estate Disputes
- Establish or Abolish Partnerships
- Determine Tax Liability
- To Determine Insurance Rates, or Pay Claims
- Simple Curiosity
Work with DSA!
How Can We Help You?
What type of Appraisal do you need?
Physical Appraisal Report
Typically includes an onsite inspection by the appraiser or field inspector to document specific information regarding the machinery or equipment, including but not limited to: model numbers, serial numbers, engine size/hours, mileage, and condition. Each asset is then photographed.
Desktop Appraisal Report
The client is to provide appraiser with the physical data, report current conditions, and supply appraiser with digital photographs.
Definition Of Fair Market Value
Fair Market Value – An opinion expressed in terms of money, at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts, as of a specific date.
Definition Of Orderly Liquidation Value
Orderly Liquidation Value is the estimated gross amount, expressed in terms of money, that could be typically realized from a liquidation sale, given a reasonable period of time to find a purchaser (or purchasers), with the seller being compelled to sell on an as-is, where-is basis, as of a specific date.
Definition Of Forced Liquidation Value
Forced Liquidation Value – An opinion of the gross amount, expressed in terms of money, that typically could be realized from a properly advertised and conducted public auction, with the seller being compelled to sell with a sense of immediacy on an as-is, where-is basis, as of a specific date.
Why Choose Don Smock Auction Co.?
Incorporated in 1992
Award winning marketing state and nationally by peers. National and Indiana Auctioneer Association
Family owned – currently the second generation (very active owner)
Partnered with Proxibid.com/dsa for the highest quality internet bidding platform
Started with three employees, now eighteen
One of the largest construction auction companies in the Midwest
Started out doing $2 million, now average $30 million
Client list over 30,000
Volume based: 50% Equipment, 30% Trucks, Trailers, and balance support equipment
Appraisal Department with two USPAP Compliant Appraisers
Indiana’s largest construction auction company
Real Estate Department averages 10 Auctions a year
Aggressive and creative custom marketing plans for every auction
Went from 4 auctions year to an average of 35 a year
"Always have a wonderful experience with Don Smock. Great people make all the difference."
– Andy Jefferson
"Highly recommend! Very professional and know what they are doing, It has been a pleasure doing business with them for the past 20+ Years, Thank you DSA!"
– JW Knox
"I had a good experience. My questions we always answered and I was always kept well informed. Very professional."
– Eric Evans
"Have been going to Don Smock Auctions for many years. I have purchasedseveral pieces of equipment over the years. Always had good customer service! Great people to deal with!"
– Donnie Tabor
"Good Company and good people they always do a great job with their auctions."
– Mike Bowyer