Edward Biggs

I inspect and appraise large quantities of locomotives including steam, diesel and electric, freight cars of all types, passenger equipment both modern and heritage type for banks, railroads, leasing companies, insurance companies and investors. I appraised rail equipment for the U.S. Treasury working through the Federal Railroad Administration appraising a host of Amtrak passenger equipment, both diesel and electric locomotives. The largest percentage of my appraisal business is related to freight railcars. I regularly perform appraisals on large portfolios for sale transactions and for bank accounting requirements.

I have appraised rail equipment for museum donations and estates the largest of which had 19 steam locomotives and 25 vintage diesel locomotives, passenger equipment, steam locomotive servicing equipment and a large inventory of steam and diesel locomotive parts and equipment.

I inspect and appraise railroad maintenance of way equipment the majority of which is modern vintage.

In addition to inspections for appraisals, I inspect rail equipment for lease returns and damaged rail equipment and review of shop repair estimates.

I have testified as an expert witness:

1. In a maintenance of way service company trial. 2. Deposed in a case as an expert appraiser in a case between a Class One Railroads and a rail equipment lessor on both the value and return damage to open top hoppers. Case settled within hours of my deposition. 3. Testified in court in a case between a Class One Railroad and a shortline on the value of wood chip hoppers. 4. Deposed in a case as an expert appraiser in a case between a locomotive manufacturer and a Terminal railroad on a failed concept gen-set locomotives value. Working for the railroad case was settled out of court.

I inspect and appraise railroad track which has included several railroads, sidings and railroad storage yards. I appraised and later helped to sell the Texas Southeastern Railroad. I appraised and later helped to sell the Sequatchie Valley Railroad and Walking Horse and Eastern Railroads from the offering memorandum to a sale that closed in 2019. I appraised the track and rail equipment of the Seminole Gulf Railroad for financing that led to their purchase of the right of way from CSX Transportation that they had been leasing the property from.