Ask the Expert

Farm Equipment's Ask the Expert series is brought to you by Iron Solutions.


At Iron Solutions we provide used equipment valuations, market intelligence and a suite of integrated, cloud-based business systems custom-tailored for the equipment industry. Our proprietary model is built on actual dealer sales transaction data. Learn more…


ARTICLES

Ask the Expert: 2013: A Paradigm Shift in the Ag Equipment Business

In 2013, the signs of a looming collapse were becoming clear. In Farm Equipment, Dr. Jim Weber had been writing a series titled “The Business of Selling.” An article from the series “Gathering Storm Clouds” was posted in July 2013. I am paraphrasing but, in the article, Dr. Weber talks about low return on sales, dealerships dependence on volume and market share payments. Because of the low returns, dealerships should have been failing in droves. But because of record high commodity prices, record low interest rates and record on-farm income, dealerships were able to spike margins with new and used wholegoods.
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Ask the Expert: Finding the 1st and 2nd Trade

When it comes to the future trade-ins, I’m not so much concerned about trying to find a home for the $100,000 combine. What I’m more concerned about is that first and second trade that are $350,000 or $280,000 machines. So when I look out there, I try to see how many guys might be interested in those units. Unfortunately, right now when we go to talk to somebody about a high dollar, late, low hour used model, that same person is probably someone who could buy a new one, too. So we have to be careful who we talk to. We have to get to know their business before saying, “Hey, why don’t you buy a new one?” Because there’s a likely chance they should be buying a used one.
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Casey Seymour

Casey Seymour

Casey Seymour has spent his entire career in used equipment remarketing at 3 different dealership groups, currently serving as the remarketing manager for 21st Century Equipment. He also operates Moving Iron LLC, which includes meetings, a longer format podcast series and other opportunities for remarketing managers. He can be reached at casey.seymour@movingironllc.com

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