Second hand equipment valuation

[Dane Pidgeon]

Hi all,

Bit of a weird one here...

I am about to sell off a Red Helium kit from our entity to a related party. To retain legislative compliance, this needs to be sold at "Market Value".

I've taken a look around on the forums and it seems that there is a lot of inconsistency. i.e asking price, sales price (if we even know), hours, rental history, sale length etc...

I guess my question is, does anyone know of a service that can provide a valuation of such equipment?

I know every situation is different but I'm hoping for something I can provide as rock solid evidence to the government for taxation purposes.

Edit: Our accountant advised us to get 3 sale prices of the same equipment and take the average, but it's not quite that simple to publically find that info with accuracy.

Cheers,
Dane

 

[Werner Jauch]

Don't know if this helps , but I'd suggest the fair price is what you can find an actual willing buyer to pay for it. Like most people I suspect you think it is worth more than most other people would. I'd suggest putting it on ebay with what you consider the value as the reserve. If you get more than that, great for your company. If you don't hit your reserve, then you have established via eBay, the worlds largest auction site, what the highest was that someone would pay for it (assuming of course a buyer that wasn't going to fail to follow through). Sell to your related party for $1 above the highest bid. I'd consider your ebay fees a business expense, like a jewelers charge for an appraisal. Obviously run this suggestion by your accountant

 

[Björn Benckert]

Put it on eBay with a quite short auction and low starting price. And then put a really high bid yourself. Then you have the auction history. to prove that you where highest bidder.

Your bid will only be slightly higher the second highest bid. The quality of the ad and how the seller talk to those of interest offcourse also is factors on the final price so possible to hold down the damand a bit but still a fair way to get the value right.