This is a summarization of the article Tracking The Deals on 4WD Tracks, by Dave Mowitz, Machinery Insider
originally posted on Successful Farming.
Late-Model Tracked Tractors Continue To Offer Some Of The Best Values in Horsepower in the Marketplace
Inventories of late-model tracked 4WD tractors are dwindling, which is bringing price support to these machines as well as opportunities to cash in on good deals at auction or through dealer sales. Before you buy, however, it’s important to do your homework. Featured in the March 2019 article of Successful Farming Magazine, Iron Solutions own David Davidson explained how to determine the retained cash value of tracked tractors; not relying on averages which can be misleading.
“Obviously, a machine used in a road construction project might have a retained value far less than one used on a Midwestern farm. This type of difference can skew the average, and it’s why I always caution buyers and sellers to appraise specific units. Its options and usage could be very different from the average.” – David Davidson, Iron Solutions
In the article, Davidson tracked several tracked tractor models using IronGuides
, Iron Solutions’ valuation tool for agricultural, construction, and industrial equipment dealers, lenders and insurers. IronGuides is unique because it goes beyond the “basics” of providing simple averages of retail advertised, auction, or sold price listings. Based on actual dealer used sales transactions and normalized for options and usage to the type, make, model, and year level, Iron Solutions valuations deliver the best current and forecasted values for the industry.
“We manage tens of millions of data points annually from thousands of retail sources throughout North America,” Davidson said. “Advertised price is public knowledge, but dealers trust us enough that they tell us, for example, that a machine advertised for $50,000 actually sold for $44,500. This is critical information that is unique to Iron Solutions®.”
for the full article on Successful Farming
Hey equipment dealers & lenders, want to increase your margins with better appraisals?