Late last month, a recording studio in New York City that had been put up for sale required an equipment appraisal to discern its value. Since a studio has so much specialized and custom equipment, a CMEA with some knowledge of and experience with the music industry was given the assignment.
During the appraisal, the appraiser noted a glass case with a guitar on display. The guitar had been signed by Jimi Hendrix and had a certificate of authenticity. However, the guitar didn’t belong to anyone who worked there, nor did it belong to the owners, so it was considered part of the studio’s equipment.
That led to a conundrum — how to appraise the guitar? The instrument itself wasn’t particularly rare, a white Fender Stratocaster. It was vintage, so it would be worth more than the same type of guitar off the rack today. But it had Hendrix’s signature. That definitely drove the value up, but had he owned it? Had he played it? Or had he just autographed it?
That’s where the CMEA’s research skills came into play. Using the guitar’s serial number, he was able to determine that Hendrix had indeed owned it. There was no way to be sure whether or not he’d ever played it, but the CMEA did further research to determine the value of such a collectible, and factored it into the appraisal.
A CMEA has a number of noteworthy skills, but chief among them is the ability to perform specialized research. If you enjoy research and think you might want to get your CMEA certification, contact the NEBB Institute today!
The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.
By: NEBB Institute
Recent Comments