A timber cruise will measure height and diameter, and use regional volume tables to figure board feet, cubic feet, cords, or weight of the trees before they are cut. Tree measurement and Log measurement are the two measurement methods used when timber is sold. Log measurement determines the volume after the trees are cut into logs. Often log measurement is done by the buyer after the logs have left the property. Opinions and specific situations vary on which measurement method is best.
Value is more subjective.
The best way to determine value is the same as for real estate - by using comparables . Finally, the best test of value is to expose your commodity to as many potential buyers as possible. This is done with timber by advertising the estimated volume and location of the timber to as many potential buyers as possible. A written contract or agreement is of paramount importance. A contract will protect both the buyer and the seller, and have clauses describing deposits in advance of cutting, performance bonds, measurement method details, audit rights to finances related to the sale, utilization standards, slash and stump treatment, payment schedule, and start and stop dates for the sale.