Posted 11-10-08

Page 76. At the bottom of the page, insert the following paragraph immediately before the last paragraph beginning with “Reporting Requirements…”:

Desktop Opinions of Value

In machinery & equipment appraising, an appraisal made without the benefit of a personal inspection is referred to as a desktop opinion. A desktop opinion is a professional opinion of the appropriately defined value type, expressed in terms of dollars, to be realized by the sale of equipment in which the opinion is generated from inventory lists, photographs and/or other informational materials supplied to the appraiser and evaluated without the benefit of an on-site inspection. A desktop opinion can be used for some situations but is not appropriate for many appraisal needs where an on-site inspection is required.