Equipment maintenance and management decisions can have a direct impact on valuations. We asked Bill Albaugh if he paid attention to how equipment was stored when performing his valuations and how storage choices can impact equipment values.
I do, because you normally can tell one that's been stored outside because the paint's faded. That's a big key because paint quality on a piece of equipment makes a huge difference because if you're the next buyer and you're going to take a look at that piece of equipment and the paint's all faded, you start looking deeper because then you don't think the equipment has been taken care of as well. A lot of times what you'll see in the marketing is "it's always been shedded." Being in the shed and out of the elements makes a huge difference. Number one — paint quality. Number two — it starts easier on an engine. It's no different than a car. You know, if it starts inside and it's been stored in the winter and it's easier to start it's a lot easier on an engine than starting it in minus 20 degrees.
HeavyWorth makes it easy for salespeople to capture equipment pictures and immediately sync those with the cloud so evaluators back at the office can have a complete picture of the condition of the equipment they're valuing. Learn more about the HeavyWorth software platform at https://heavyworth.com/software