Price formula to set used tractor price?

[AKfish]

Salesmen, used car-truck buyers and auction hounds will sometimes estimate the value of a used vehicle by year, by trim package, by miles, etc. Kelly Blue-Book, Edmunds, etc. calculate the value of a vehicle using a formula... and, you can see the results of that by plugging in those statistics for your particular car and note the estimated value.

Anyone familiar with that kind of system to estimate the value of a used tractor?

So, if I turned into an auction hound - next week - I could walk up and down the rows of tractors with my iPhone "Used Tractor Price Estimator" App and key punch out my next bid! :thumbsup:

But... seriously... I'm really wondering if there's a price formula that would at least get you within the "ballpark" for knowing what's a reasonable figure versus a ridiculous price without spending hours, days, weeks and years pouring over Richie Brother's and Tractorhouse sale results.

AKfish

 

[GManBart]

I've never heard of such a thing for tractors, but I can envision a way to do it. It would take someone far smarter than me, but they could essentially write an app that would pull data from all of the equipment sales sites, and use that to come up with an estimate. It could differentiate between sale and asking prices as well. The chore would likely be loading all of the various brands and models into the database. One problem would be when the listings aren't specific, i.e. is it 2wd, or 4wd, HST, gear, etc, etc. Still, somebody could make it happen, and over time it would probably get to the point where it would be pretty useful for getting a high/low range established.

 

[Grandad4]

With the big ag equipment, which is in another price league entirely from our smaller utilities and compacts, pricing might be a bit more organized. That equipment is bought, used and disposed of as a business asset, often according to a planned schedule so the values are somewhat more predictable. There are folks who keep tabs on the new and used prices such equipment brings... someone nicknamed "Machinery Pete", who appears on RFD-TV occasionally, comes to mind.

There is also some kind of "Tractor Bluebook" I've seen on the magazine rack at TSC... no idea if it's any good.

It does seem prices can be regional in nature and depends on how popular a make might be in the area. If there is a make that's seldom seen in your area and has sparse dealer support, they could be great tractors but won't have the value of a more popular one.

 

[paulharvey]

With older equipment the larger tractors are often less valuable then utility or compacts, so it can't be based on HP

 

[smstonypoint]

Excuse my language (economics), but the OP is describing remaining-value equations. Depreciation Patterns for Agricultural Machinery provides an abstract of an article that describes econometric models of those equations for several machinery types. Unless you have access through a library, you would have to pay to access the full article.*

If you provide the data, I will estimate the equations for a modest fee.

Steve

* Consumer tip: save your money unless you've had a graduate class in econometrics or statistics.

 

[GreenWannabe]

You might try out Machinery Pete's auction results. You have to get a subscription, $10 for a yeek, or $69.95 for a year. Website is here: Machinery Pete's Equipment Search. There is a sample search, which returned auction results for a JD 4440 when I tried it just now.

 

[AKfish]

Excuse my language (economics), but the OP is describing remaining-value equations. Depreciation Patterns for Agricultural Machinery provides an abstract of an article that describes econometric models of those equations for several machinery types. Unless you have access through a library, you would have to pay to access the full article.*

If you provide the data, I will estimate the equations for a modest fee.

Steve

* Consumer tip: save your money unless you've had a graduate class in econometrics or statistics.

There ya go, Steve. Can you program too... Apple APP's? Or whatever, for "smartphones"!

I've had a couple semesters of statistics and used it quite a bit during my working years. After retiring, I'm less interested...

I don't have much opportunity to cruise around to all the equipment auction's held around the country. So, having a subscription to Machinery Pete's wouldn't do me a lot of good, either. I was hoping that somebody had an internet site like KBB or Edmund's that offered a quick calculator for Ag equipment.

Guess that's not the case.

AKfish

 

[GreenWannabe]

The point of Machinery Pete's site is that it also show what results of recent auctions by model, to give an indication of what current values are fo a machine.

 

[scoutcub]

There are a few different "blue Book" publications for compact tractors available, that will get you in the ball park.

 

[AKfish]

The point of Machinery Pete's site is that it also show what results of recent auctions by model, to give an indication of what current values are fo a machine.

I checked it out. I was impressed with the scope of the info available. But... it's probably a lot more than what I'd really ever use! Once every couple of year's... I manage to spend some time in the lower 48 states and make the rounds of a few tractor dealerships, etc. Maybe an auction or two.

If I lived in the continental US, it'd make sense to subscribe. Otherwise, living in Alaska; it'd just be another symptom of my "Tractor Disease" that causes my wife undue distress!! :laughing:

AKfish