Can any one help me out on Formula for salvage value ???
Salvage value is what unprepared scrap sells for locally to you. Take the machine weight in long tons (2240 Lb) times the unprepared scrap price. Not the price at the port, but what you can get locally. If you want resale value, not salvage value, then look for the average auction price for similar machines based on the age you plan to sell yours. Sites like Machinery Trader are a big help. If you are in a remote area, that has a detrimental effect on the value as well. Sometimes it costs more to get it shipped out than it is worth.