How is scientific and laboratory equipment valued?
Primarily through comparable sales analysis using completed auction results, dealer pricing, and listing databases for the same or similar instruments, with the cost approach used for unique or customized items that rarely trade. Because scientific instruments can be niche, appraisers triangulate between multiple market sources rather than relying on any single guide, and adjust for age, condition, and remaining life.
Why does manufacturer support status matter so much for lab instruments?
Because orphaned or end-of-life instruments lose value quickly even when physically intact. Platform generation, whether the manufacturer still supports the system, throughput and configuration, fit with current testing menus, and service and calibration history all drive demand in the secondary market. Two identical-looking analyzers can appraise very differently if one has lost factory support.
What are the IRS requirements for donating scientific equipment?
Noncash donations of property over $5,000 generally require a qualified appraisal and an appraiser signature on Form 8283, and for gifts over $500,000 the appraisal itself must be attached to the return. Values must be market-based fair market value as of the donation date, not book value. We prepare donation appraisals to those substantiation standards.
Are asking prices good evidence of what lab equipment is worth?
No. Asking prices are not completed-sale evidence; used equipment value must be adjusted for age, condition, remaining life, support status, and market demand, and it is realized transactions that count. A related mistake is ignoring which value premise the number represents: fair market value, orderly liquidation, and forced liquidation can diverge widely for the same instrument, which matters for tax, insurance, and sale decisions.