Representatives with Expert Heavy Equipment announced today that it is a viable resource to determine the fair market value on used construction and farm equipment.
“We are one of the only resources for individuals to get general market pricing whether they are buying and or selling,” said Milissa Wise, Director of Operations for Expert Heavy Equipment, the parent company of EHE Auctions.
Wise explained that currently there is not a standardized resource for assessing the value of heavy construction or farm equipment, which means that most individual owners and companies become dependent on the appraiser, dealership or broker to provide them with a value.
“Expert Heavy Equipment offers a free pricing report that provides third party market data validating the current fair market value on equipment based on general details of the machine,” Wise pointed out. “Our objective in doing this is to bring a higher level of transparency to the marketplace.”
Wise stressed that its market pricing service helps to provide the seller and or buyer negotiating power.
“Used equipment pricing is heavily influenced by many variables to include global demand. This is because the United States is the number one provider of used heavy equipment globally. The demand of specific equipment in other countries directly impacts the price of certain makes and models. However, when the US dollar strengthens the demand shifts domestically,” Wise added.
Wise continued, “When there are multiple variables in play that affect pricing, it becomes more difficult for an individual to understand the current fair market value of their equipment. That is where Expert Heavy Equipment can help.”