AUCTION VALUE (Also known as) FORCED LIQUIDATION VALUE
“The estimated gross dollar amount which should be realized at a properly prepared, advertised and conducted public auction sale, held under forced sale conditions and under present-day economic conditions. This takes into consideration inflationary or depreciable factors which affect sales such as physical location, difficulty of removal, age, new cost, availability, versatility or specialization, marketability, physical condition, overall appearance and psychological buyer appeal.”
ORDERLY LIQUIDATION VALUE
“An opinion of the expected gross dollar amount which should be realized at a properly prepared, advertised and conducted orderly liquidation if exposed for public sale in the open market with a reasonable time allowed to find a purchaser.
Both a buyer and seller would have knowledge of the uses and purposes to which it is adapted and for which it is capable of being used, the seller being compelled to sell and the buyer being willing, but not compelled to buy.”
FAIR MARKET VALUE
“An opinion, of the expected gross dollar amount, which the subject machinery and equipment could realize if exposed for sale in the open market by a seller who is willing but not obligated to sell, and a buyer not obligated to buy, neither being under duress or compulsion to do so and both buyer and seller having knowledge of the value, and purposes to which it is adapted and for which it is capable of being used.”
IN-PLACE VALUE
“An opinion, of the estimated dollar value, which the subject machinery and equipment would be worth “In-Place” assuming that said equipment were purchased in the open market under present day economics, and installed for intended utilization.”
The In-Place Value appraisal of machinery and equipment includes the estimated costs of transportation, foundations, piping, or power wiring applicable to each machine or the total values of all machines expressed in the appraisal.