When it comes to valuing used equipment, there’s no one-stop-shop source, says Trent Hummel, a consultant who specializes in wholegood inventory management and is a trainer with the Western Equipment Dealers Assn.’s Dealer Institute (WEDA) and a former dealer.
Fastline Media Group and Iron Solutions announced today a new strategic partnership in which Iron Solutions will provide a valuation tool available to farmers through the Fastline website. The tool, IronAverage, provides a starting point in determining the value of a piece of used equipment.
Due to the number of attendees that preregistered for this topic, the “Valuation Data Sources: What, Who & Why?” roundtable was held both days of the Dealership Minds Summit – Roadmap to Mastering Equipment Remarketing. The majority of dealers attending this session were looking for better tools to use when placing a value on used equipment and trade-ins. One dealer said, “It is an inefficient marketplace, the information is bad. How do we get better information?”
It’s no secret that there’s too much used equipment on North American farm equipment dealers’ lots these days. While dealers are making strides in reducing their equipment inventory build up, correctly valuing used equipment is key to properly managing inventories now and in the future.
I didn't see this one coming. Values on used combines are surprisingly strong here early in 2016. Values are even holding to up (yes, up) on some slightly older used models in that 5-10 year-old range.
Dealers discussed the challenges and opportunities for selling used precision equipment and how to transfer the risk from the dealership back to the customer who is trading the equipment.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
Montag is the industry’s innovative leader for precise, accurate metering of fertilizer, seed and other nutrients. The Montag system has become the standard for deep banding of fertilizer. Montag is also pioneering the technology for cover crop seed application. The new Cover Crop+ is able to meter the smallest seed, and can be mounted to tillage implements, combines, plus Hagie sprayers and detasselers.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.