Audit & Expertise

Expertise of movables requires high-level technical skills and due care

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Appraisals of Transports and Movable Assets

In accordance with Article 167 of Turkmenistan's Civil Code, "Articles, not considered real estate, including cash and securities, are deemed movable assets."

The TurkmenExpert Company performs appraisals on all kinds of movable assets, including:

  • automotive vehicles – freight and passenger – used automotive vehicles and automotive vehicles that have been in collisions
  • machinery and power machines, heavy and lifting and carrying equipment, and production lines
  • passenger and railroad transportation
  • tools, manufacturing facilities and furniture, office and personal computer equipment
  • goods

Modes of Transport

The services of an independent expert might become necessary to: determine sale and rental prices for different modes of transport, determine the value of a company owned fleet or to determine starting prices for selling, privatizing or transferring vehicles into fiduciary management, to use automotive vehicles as a down payment, to make a contribution to the authorized capital, or for resolving property disputes and the like.

The appraisal of vehicular transportation can be done independently, or as part of a comprehensive property appraisal.

Type of Appraisals on Modes of Transport

  • Appraisals of automotive transport
  • Appraisals of rail transport
  • Appraisals of marine transport
  • Appraisals of air transport
  • Appraisals of machinery

Machines and Equipment

An appraisal of machines and equipment needs to be done when various transactions arise, such as installation, replacement and termination of external rights to the particular items being appraised. The need to appraise machines and equipment could stem from some other circumstances, unrelated to changes in external rights. For example in cases, in which fixed assets need to be revaluated, insured, or used as collateral or as contributions toward the authorized capital, for investment purposes, the liquidation of a business, etc.

These types of appraisal services include determining the value of practically the entire scope of possible property items that are considered portable: machinery, instruments, computers, processing facilities and productions lines, power-supply units, office machines, furniture, office equipment, appliances and other objects that are considered movable assets. In making an assessment, the expert determines values, based on values of equivalents already on the market. The expert further determines the degree of wear and tear and the profit probability of the item being appraised, and whether it can be utilized or sold. The final value is based on a comprehensive and detailed analysis of the above-listed factors.

When appraising equipment, it is critical to consider the wear and tear on the equipment, which tends to be more extensive than, say, for real estate. Primarily, the expert is dealing with equipment that has some degree of wear and tear, both physical and functional. The equipment market is highly structured and very mobile. This is a result of systematic replacement and updates, as well as the arrival of new equipment models that replace outdated ones. It is also necessary to take into considering the life cycle stage of that particular piece of equipment.

In order to make a qualified appraisal of machines and equipment, we ask our clients to provide us with the following documentation:

  • Complete description of the item: make, model and serial number;
  • Manufacturer;
  • The year it was manufactured;
  • Copies of inventory records for machines and equipment, including the following mandatory data: inventory number, date item placed into use, code and depreciation rate, initial cost (prices at the time the item was placed into use) - if the Aowner is a juridical entity;
  • Copies of the user's manual and if there is none, then the technical description of the item (capacity, weight, measurements, output, productivity, etc. – as per technical documentation);
  • Documentation on maintenance and repair (component overhaul, unit replacement and fine tuning).
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