How do you do a "price check" on used equipment?

   / How do you do a "price check" on used equipment? #11  
It's good to know the equipment and what it sold for new and what it is selling for new now depending on condition your price goes from there I have seen some equipment sell for more used than what it sold for when it was new because some equipment went way up in price. A rule of thumb I use is if I can buy it for less than what I would pay if I was looking for it then it's a good deal for me because I resale it for a profit. does any of this make sense I hope so.
 
   / How do you do a "price check" on used equipment? #12  
I find regarding tractors that the used price is pretty much the same as the new price. It seems tractor depreciation is pretty well matched to inflation.
If it sold new for $2,500, back in 1950 It'll go for $2,500 now. If you simply look up the price it sold new, you have a good idea of the ballpark used price.

DarK,
Do you find that certain brands hold their value better than others. Like I've heard it said that Deere is good at retaining value. What brands might this be true of and who would lead ?

Are there certain types of equipment that hold value of specific brands ? Like Deere tractors, or Woods grinders, etc. ? Or maybe there is a value leader by type of equipment. Any thoughts ?
John
 
   / How do you do a "price check" on used equipment? #13  
Check ebay, tractorhouse, fastline, and craiglist.
 
   / How do you do a "price check" on used equipment? #14  
DarK,
Do you find that certain brands hold their value better than others. Like I've heard it said that Deere is good at retaining value. What brands might this be true of and who would lead ?

Are there certain types of equipment that hold value of specific brands ? Like Deere tractors, or Woods grinders, etc. ? Or maybe there is a value leader by type of equipment. Any thoughts ?
John

Deere, Kubota both hold their value. Stihl and Husky in saws do well. Woods, Landpride, Kuhn, Brush Hog, many others do well in attachments. Most importantly, good paint and well kept beats all. Don't leave your equipment out in the weather if you can avoid it.
 
   / How do you do a "price check" on used equipment? #15  
. . .One of the things that needs to be emphasized - terms of condition - "good" often means not falling apart, "slight rust" means holes smaller than your fist. I hate driving . . .and find out the pictures were VERY carefully taken and the equipment wasn't worth the drive.

Amen to that.
 
   / How do you do a "price check" on used equipment? #16  
We used to frequent farm auctions quite a bit years back, and they were a good way price check items, for the most part. We also had quite a few small used equipment dealers, "equipment jockeys" as we called them, around the area too. When they bought something, rule of thumb then was, they are figuring on making a minimum of 20% profit. This was the era before the CUT's, and N series Fords and TO Fergusons were at premium. A nice clean 8N was bringing $3G+ around here.

I've seen equipment sell dirt cheap, as with the last one I went to, about 6 weeks ago. Older small equipment, but in great condition. There were several jockey's there, and probably bought 75% of the equipment sold. They will definitely make some money on those items.

On the other hand, I've seen bidder's get caught up in the bidding, and pay a near new price for something in need of repair, that the same item could be bought at TSC or Rural King for a few dollars more.
 
   / How do you do a "price check" on used equipment? #17  
In buying, and selling stuff like tractors and vehicles, having something that looks cared for, and being sold by someone who talks like they know how to take care of something goes a long way. Too pretty, and you have to be suspicious, but beat is beat. A patina of careful use and proper storage is key. As is service records. Maybe I have been lucky, but what I sell is cared for, as is what I buy used.
Good equipment at a fair price for all concerned is all you can ask for.
 
   / How do you do a "price check" on used equipment? #18  
Check out machinery pete.
 
   / How do you do a "price check" on used equipment? #19  
I'm 50 now, but when I was growing up on the farm, my dad used to check the Sears catalog (No kidding) for new prices on equipment. He said that, as a starting point, used equipment is worth about half of what new is. If it is incredibly well cared for, you go up. If it has been, "rode hard and put up wet" then you either go down or pass altogether. Don't be afraid to walk. There's another one around the corner.

I've lived by that and it has served me well; though I quit using the Sears catalog years ago. I now use EBay, Craig's list and actual auction sales results. I wish Craig's list would somehow track what something actually sold for.
 
   / How do you do a "price check" on used equipment? #20  
Looking for a used multy purpose tractor, found a nice looking 2009 JD 2320 with 54" deck and front loader $14,500.00 Sounds hi for a tractor with 670 hours use.
New JD same tractor is $16,919.00 with 2 extra features.
How do I find price of 2009 new to compare, everything depreciates when 'you buy' but not when dealers sell.
 
 
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