Introduction The appraisal of machinery and equipment may well be the least understood of the appraisal disciplines. Not only are there a myriad of value concepts, within the value concepts there are differing levels of value depending upon the assumptions of the study. For example, is Market Value of a particular machine to a dealer or from a dealer? Or even more subtle, is Market Value from a dealer or from another end user? As difficult as it is to understand the value concepts, it is even more difficult to appropriately relate the value concept to each service application. For example, Forced Liquidation Value is not usually an appropriate value concept for the purchase price allocation of a bundle of assets, including real property and intangibles. Areas of primary activity The machinery and equipment appraiser usually functions in the areas of asset based lending, insurance valuations, tax and/or financial reporting purchase price allocations, the purchase or sale of assets, leasing and Ad Valorem taxation matters. Appraisals may be prepared in an overview manner to a very detailed asset schedule, depending upon the business situation. The appraiser may work with appraisers of other disciplines and should be knowledgeable with respect to the appropriate application of the various levels of value to the business situation.  A secondary and special area may be accelerated cost recovery (cost segregation) services, with this appraisal discipline being treated separately. Also, machinery and equipment appraisers are often called upon to develop the asset detail and enterprise coding for fixed asset information and control systems. Experience / Education Machinery and equipment appraisers have varied experience and educational levels. The seasoned appraisers (say those the started appraising prior to the 1970’s) were often an equipment industry marketer or a plant engineer / maintenance person who obtained their experience through on the job training. While the  younger appraisers tend to be college or technical school graduates, usually in an engineering curriculum. Most appraisers usually strive to achieve accreditation from the American Society of Appraisers or the American Machinery Dealers Association. Sometimes a mix of both types of skill may be the best. Neither type of experience or education necessarily indicates whether the appraisal will be accurate.