The Association of Machinery and Equipment Appraisers (AMEA) is a nonprofit professional association that accredits and certifies appraisers of machinery and equipment. Accredited appraisers must have a minimum of five years of buying, selling and appraising experience; certified appraisers must have at least seven. Members also must be employed by a company that is a member of the Machinery Dealers National Association.

The foundations of AMEA are its Code of Ethics and Standards and Procedures of Professional Appraisal Practice. The Standards and Procedures of Professional Appraisal Practice conform to the Uniform Standards and Procedures of Professional Appraisal Practice.

Why hire an AMEA appraiser? An AMEA appraiser has...

• years of buying and selling in the same marketplace as he or she is appraising. This knowledge provides a better perspective to generate a quality evaluation, and afford the extra insight to provide accurate numbers.
• undergone extensive testing, and keeps up-to-date by regularly attending required seminars. AMEA appraisers learn from noted professional equipment specialists, not only what values can be expected, but also what to look for in terms of conditions, accessories, tooling and other value characteristics.
• appraisals regularly reviewed by a committee of peers to be sure they meet the required standards and procedures, and has a network of specialists in every industrial environment.

Association of Machinery & Equipment Appraisers Code of Ethics

The appraiser shall conduct himself or herself in all respects according to the Code of Ethics and Standards and Procedures of Professional Appraisal Practice of the Association of Machinery and Equipment Appraisers (AMEA) Code of Ethics

This Code of Ethics contains principles to govern each individual appraiser's conduct and practice. It is each member's duty to adhere to the letter and spirit of his or her practice according to this Code of Ethics. Each individual is obligated to:

A.) Conduct his or her appraisal activities in a professional manner, demonstrating the highest level of integrity, which will reflect credit upon himself/herself, and the accrediting organization, AMEA.

B.) Accept only those assignments that he or she is competent to perform and has the knowledge and ability to perform in a professional manner.

C.) Make his or her client fully aware of any interest he or she has in the machinery or equipment to be appraised. The appraiser must state clearly that his or her opinion of values is unbiased and objective. These opinions must not be prejudiced by past, present, or any future interests in the machinery and equipment appraised. It is a violation of this Code of Ethics to formulate opinions of value that may be subjective or self-serving or that are based on any interests that may affect the validity of the appraisal.

D.) Base compensation paid for an appraisal on the nature and scope of the appraisal. The appraiser shall not derive compensation for an appraisal contingent on values pre-determined by the client.The payment of undisclosed fees, commissions or things of value in connection with the procurement of Appraisal, Review or Consulting assignments is unethical.

E.) Prepare the appraisal report personally and express opinions in it that are his or hers and not that of another party, unless specifically stated in the report that another Appraiser or Advisor has been consulted and whether or not that person has been compensated for those opinions. The amount of compensation need not be stated, only that compensation or none has been committed.

F.) Hold all appraisals in strict confidence with his or her client, and shall not furnish it to another party unless specifically authorized to do so by the client or a court of law.

G.) Adhere to these standards, even when signing an appraisal report on the line over the words "Review Appraiser". If more than one person signs the report, this certification must clearly specify which individuals did and which individuals did not make a personal inspection of the property.

H.) Advertising for or soliciting appraisal assignments in a manner which is false, misleading or exaggerated is unethical.

AMEA Standards and Procedures of Professional Appraisal Practice

Basic Membership Requirements:

1.) Membership is limited only to individuals who are full-time employees of a Machinery Dealers National Association (MDNA) member firm.

2.) Applicants must be individuals. Company applications will not be acceptable.

3.) MDNA firm must be a member of MDNA in good standing for a minimum of one year.

4.) Applicant must be associated with an MDNA firm for no less than two years demonstrating compliance with the MDNA Code of Ethics.

5.) Individual applicant must have been involved in the buying, selling and appraising of used machinery and equipment in the marketplace for the last five consecutive years, and must continue to be involved in the buying, selling and appraising of used machinery and equipment in the marketplace.

6.) All applicants agree to conform in all respects to the MDNA Code of Ethics, and the AMEA Code of Ethics and the AMEA Standards and Procedures of Professional Appraisal Ethics and Practice.  

Accreditation/Level I Requirements

To obtain Accreditation/Level I the following must be accomplished within two years by new members:

A.)   Fulfill all financial obligations to maintain membership in AMEA.

B.) Complete part two of Membership Application and Accreditation/Level I Application Form.

C.) Attend Level I Course: Introduction to Appraising Machinery and Equipment.

D.) Attend seminar on AMEA Code of Ethics.

E.) Individual must have been involved in the buying, selling and appraising of used machinery and equipment in the marketplace for the last five consecutive years, and must continue to be involved in the buying, selling, and appraising of used machinery and equipment in the marketplace.

F.) Pass Level I written examination of AMEA Code of Ethics. An exam fee of $100 and a completed application will be collected at the time of the exam. This will be credited as initiation fee upon acceptence.

G.) Applicant must present completed full unidentifiable appraisal that complies with the AMEA Standards And Procedures Of Professional Appraisal Ethics And Practice before accreditation credentials will be issued.

Accreditation Retention

A.) Attend two seminars provided during each two-year period (this includes attendance at MDNA chapter meetings which provide approved AMEA educational material to retain accreditation and/or Board meetings).

B.) Have one appraisal reviewed by the AMEA Review Committee every two years.

C.) Continue to be a member in good standing of AMEA and MDNA.

D.) Comply with all Standards of Ethics set by the Ethics, Standards, and Review Committee.

E.) Continue involvement in buying, selling, and appraising of used machinery and equipment in the marketplace.  

Certification/Level II Requirements

A.) Be an accredited AMEA/Level I Appraiser for at least two years.

B.) Submit written application and appropriate fee.

C.) Successful completion of Level II Course: Research and Analysis in Appraising Machinery and Equipment.

D.) At least seven years experience buying, selling, and appraising machinery in the marketplace and must continue to be involved in the buying, selling, and appraising of used machinery and equipment in the marketplace.

E.) Pass written examination for Certified AMEA appraisers.

F.) Submit to National Office Review Committee, one unidentifiable appraisal in the course of 12 months.

G.) Comply with all Standards of Ethics set by the Ethics, Standards and Review Committee.

Certification Retention

A.) Attend two seminars provided during each two-year period (this includes attendance at MDNA chapter meetings which provide AMEA educational material provided by AMEA and/or Board meetings to retain certification.)

B.) Have one appraisal reviewed by the AMEA Review Committee every year.

C.) Continue to be a member in good standing of AMEA and MDNA.

D.) Comply with all Standards of Ethics set by the Ethics, Standards, and Review Committee.

E.) Continue involvement in buying, selling, and appraising of used machinery and equipment in the marketplace.