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California Presents Unique Environment for Used Equipment

By Dave Kanicki posted on September 15, 2017 | Posted in Best Practices, Used Equipment Remarketing, Operations & Finance, Department Management

If there is one thing that most farm equipment dealers can agree on, it’s that an excessive inventory of used equipment will put them out of business faster than any other single mistake that he can make.

used equipment

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Thinking 'Small' Pays When It Comes to Moving Used Inventory

Small-store leaders within Farm Equipment’s Dealership of the Year Alumni Group share the actions they’re relying on to guide them through the choppy waters of reducing equipment backlogs.

By Dave Kanicki, Mike Lessiter, and Mike Wiles posted on August 25, 2017 | Posted in Best Practices, Used Equipment Remarketing

A dealer responding to Ag Equipment Intelligence’s November 2015 Dealer Sentiments survey summarized the industry’s current dilemma: “There was a lot of positive activity during the month, but a lot of people passed on making purchases when they saw what their used equipment was valued at. Used pricing is too soft to convert people to make new machine purchases.”

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Using Multiple Sources to Price Used Equipment Right

By Kim Schmidt posted on August 14, 2017 | Posted in Best Practices, Operations & Finance, Department Management

Salem Farm Supply uses Iron Guides, along with other sources and ‘real world sense’ to ensure it is pricing its used equipment to determine market value.

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Johnson Tractor — Student of Used

By Mike Lessiter posted on July 31, 2017 | Posted in Best Practices, Operations & Finance, Department Management

Tired of losing customers to wholesale auctions and farm sales during the lean years of 1982-86, Leo Johnson, partner, Johnson Tractor in Janesville, Wis., found survival in a "If you can't beat 'em, join 'em" approach. He was soon an active participant in anywhere used iron was being sold. "Buying and selling used equipment got us through," he says.

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Finding the Right Tools to Improve the Valuation Process

By Marisa LaBello posted on July 17, 2017 | Posted in Best Practices, Operations & Finance, Department Management

Don Aberle of Titan Machinery and Robert Benning of AgLand – Lloydminister use a number of tools and resources to determine the value of used equipment, from the dealerships’ own data to various guide books.

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Used Equipment Strategy: Salesman is the 'Buyer'

June 29, 2017 | Posted in Department Management

The major philosophy underlying Precision Equipment's strategy in taking trades of used equipment is that the salesperson must recognize that he's the buyer, not the seller.

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Industry Q&A: Steps to Unload Used Equipment Inventory

June 9, 2017 | Posted in Best Practices

What steps have you taken to unload used machinery, and what strategies have you found to be most effective in reducing your used equipment inventory?

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Plains Ag Adjusts to the ‘New Normal’ for Used Equipment Sales

By Kim Schmidt posted on May 15, 2017 | Posted in Used Equipment Remarketing

Turning their used equipment inventory quickly has always been a focus for Plains Ag, a 10-store Case IH dealership in North Dakota, but over the last 2 years they’ve put even more emphasis on it.

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Pricing, Age and Usage: Tracking Used Equipment Trends

Dealers need in-depth, up-to-date information on used ag machinery to make informed decisions about both trade-in and selling price.

By Dave Kanicki posted on May 1, 2017 | Posted in Used Equipment Remarketing, Data & Forecasts

Dealers need in-depth, up-to-date information on used ag machinery to make informed decisions about both trade-in and selling price.

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What Determines Used Equipment Values?

Dealers should be consulting multiple sources and data fields in order to accurately assign values to used equipment.

By Kim Schmidt posted on April 17, 2017 | Posted in Best Practices, Used Equipment Remarketing, Operations & Finance

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.

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