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I need help from the group. We have just went through a safety and soundness exam and they did not like the way we were coming up with values on equipment and other similar specialty collateral. We valued collateral like this by pulling up several similar pieces of equipment listed for sale on equipmenttrader.com or a similar site and did an average of the sales prices. The examiners wanted us to use the sale price of equipment that has actually been sold….however when we asked where we could get those types of values they couldn’t direct us anywhere. I was just curious if any of you had a good source or a better way of coming up with a value on collateral like this?
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