Many people are running into the same problems when trying to find the right price for used heavy equipment.
With no pricing resource, how do you know you’re making the right decision when purchasing or selling used heavy machinery?
There are a few resources that can help you determine Fair Market Values:
- You can go to Ritchie Bros Auction and compare the past auction results on the equipment they have posted on their website if you have the machines’ details (make, model, hours, year). The problem; however, is their site is it can be difficult to pull the pricing data.
- There are excellent pricing resources on the Equipment Watch website; however, the cost will be approximately $2,000 dollars. For a rental company or dealership, this makes sense, but for the individual this is simply not an option.
- There is a free pricing resource, Expert Heavy Equipment (EHE) This pricing resource uses third party market data for confirming the fair market value. The only challenge is it may take longer than 5 minutes to get the information you need.
There are limited resources available to price your used heavy equipment. Hopefully this helpful information will guide you to making the right decision when determining the right price to buy or sell. If you have any questions, you can contact us at firstname.lastname@example.org for more information on pricing.