Definitions of Value
Value Resource Group, Inc.’s chief appraisers possess an in-depth knowledge and understanding of the value concepts established by the American Society of Appraisers for the Machinery/Technical Specialties (M/TS) discipline. In some cases, these value concepts are applicable to inventory and machinery and equipment. Others require some modification and expanded commentary due to the "level of trade" concept and apply only to inventory.
To this end, Scott M. Creel, ASA developed two value concepts that stem from the orderly liquidation value (OLV) concept, but depart from its typical interpretation as originally defined. These concepts of value are “orderly liquidation value through continued operation” and “liquidation value through continued use.”
Inventory Definitions of Value: The concepts of value listed here have similar uses as those typically defined by the M/TS committee. They also offer commentary specific to the valuation of inventory for further clarification.
Machinery & Equipment Definitions of Value: Any value concepts listed here that are not addressed within inventory require no specific interpretation. They are applied the same as any other type of personal property.