Good data can help you make better decisions for your business.
This applies to the used equipment end of your business, of course. But how do you tend to use data to look at used values?
Do you tend toward the big picture look at used value trends or do you zero in on the very specific?
I like to do both.
Let’s take John Deere 568 round balers as an example. Here’s a look at the average auction price for John Deere 568 round balers going back 7 years:
So there’s been basically flat pricing over the past 2 years. That’s interesting.
I think the rains down in Texas and Oklahoma helped push used round baler values higher down that way, as evidenced by sale prices like $32,500 for a John Deere 568 on an October 1, 2016 consignment auction in southeast Texas for one that had done 2,376 bales, always shedded, in like new condition. Pictured below.
Now let’s get more specific. Let’s look at just 2012 model John Deere 568 round balers. Checking our auction data at MachineryPete.com it shows 2012 model 568 sale prices are down 15.3% in value so far in 2016 (average auction price $18,558) vs. 2015 (average auction price $21,906). And if you check in the “Dealer Center” at MachineryPete.com you can find the average dealer advertised price currently on 2012 model John Deere 568 round balers is $26,644. Now of course that is simply an “advertised” price, not the final number you may let it go for, plus you may bring great value to the equation in terms of financing to the buyer as well as taking the buyer’s used round baler in on trade.
We now have other very relevant data you can chew on when assessing the used equipment market. In our “Dealer Center” at MachineryPete.com we show dealers the number of search clicks over time on specific items. So in our example of 2012 model John Deere 568 round balers, it’s useful to know that over the past 30 days we have seen a 41.1% increase in search traffic, i.e. potential buyers looking at your 2012 John Deere 568 round baler listings for sale.
We have still more data. It’s also helpful to know that over the past 30 days we have seen a 32.6% increase in the number of 2012 model John Deere 568 round balers listed for sale by dealers. Start with the big picture look at the data and then zero in.
That’s the smart way to use data to make better decisions.
Here’s a look at auction sale prices we have compiled on John Deere 568 round balers.