Ever appraise a gravel pit

[The Warrior Monk]

if you've never undertaken an appraisal of a quarry (which includes a sand and gravel property) you're in way over your head.

That's funny - if the pun was intended.

If that comment was used in the graveyard thread, it'd be real interesting!

:new_shocked:

 

[Juan Benavidez]

I used to lease a sand pit to a large concern. Their lease was up for renewal. After much discussion between all parties concerned, including an experienced appraiser, who was hesitant to come up with a value, we all agreed on the following: 1. We applied 8% to the "surface value" on the area being mined, as the rental fee. 2. Then, we agreed for the lessee to pay a very low fee on the area not yet being mined. 3. We also agreed for the lessee to pay a fee for the sand actually sold. (We did not charge anything for the "overburden," especially since it was going to be turned over to the municipality to be used in the hole being left behind which was to be used for a sanitary landfill.

 

[Stephen J. Vertin MAI]

Kenneth:

I'm 1 of only 6 people who holds an ASA designation in Machinery & Technical Specialties: Mines & Quarries.

There was a thread sometime back concerning machinery appraisals. I am always considering new ways to make money (even though I never have time to do most). This leads me to the logical question of how is business in the endeavors you specialize in? Is most of your income from general real estate appraising or do you only do Machinery & Technical Specialties: Mines & Quarries?

Steve Vertin