old Railroad Equipment

Equipment Appraisal

RLBA’s appraisal and valuation services include derailment and other technical inspections conducted by experienced mechanical engineers, equipment investment and credit advisory services, as well as appraisals of new, used and rebuilt railcars and locomotives. RLBA’s knowledge of and experience with railroad operations, shipper and traffic requirements, equipment design and maintenance, and railroad equipment financing form the basis of our expertise in railroad equipment appraisal services. In the past two decades alone, RLBA has valued tens of thousands of passenger and freight cars and locomotives, with a cumulative value in excess of $3 billion.

Select Project Descriptions:


RLBA was engaged by GECRS to perform a Fair Market Valuation (FMV) and an Orderly Liquidation Valuation (OLV) of over forty types of railroad equipment GECRS maintains in its fleet. RLBA’s evaluations included line item level data containing an FMV and OLV as well as estimated lease-end FMV and lease-end OLV of all equipment types appraised. RLBA delivered a summary report of the methodologies it employed in its appraisals.


RLBA appraised the locomotive and railcar portfolio owned by Helm Financial Corporation, the eleventh largest private car fleet in North America. RLBA reviewed equipment descriptions and market analyses of 779 locomotives spanning 27 models and 13,775 railcars across 19 different types, totaling an aggregate net appraised current fair market value of just under $550 million.


RLBA performed an appraisal of 533 pressure tank cars, 725 general service tank cars and 897 covered hopper railcars. RLBA conducted a thorough review of all manufacturers’ specifications, equipment features and service requirements, and evaluated the long-term supply and demand conditions related to the specialty railcar market.


RLBA was retained to perform a desktop Fair Market Valuation (FMV) and Orderly Liquidation Valuation (OLV) of a fleet of railcars owned by Schuylkill Railcar Inc. The fleet evaluated consisted of 513 railcars, including:

  1. boxcars (including refrigerator boxcars);
  2. covered hoppers;
  3. open hoppers;
  4. gondolas; and
  5. flatcars.

RLBA delivered both the FMV and the OLV in a detailed written report.


RLBA conducted a desktop appraisal of 68 GE Model AC4400CW and 45 GE Model AC6000CW locomotives under construction and delivered in batches to Union Pacific Railroad. The AC6000CW units represented the first, 6000-horsepower engine installed in diesel locomotives.