When the Tier 4 emissions standards began to require the use of diesel exhaust fluid, or DEF, in heavy equipment engines roughly a decade ago, we saw a prolonged demand for older equipment that didn't meet the standards. We asked Bill Albaugh if that demand still influences older equipment values or if enough time has passed that it's no longer relevant.
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Often a producer or construction contractor looking to trade-in a piece of equipment is motivated to look for the highest value possible. It's common for such a customer to come to the table with preconceived notions of the value of the equipment based on a cursory search of for-sale listings on various websites or past auction results from local auctioneers. We asked Bill Albaugh what he says to a customer who is claiming his trade-in valuation is too low.
Sometimes the used equipment that dealerships are asked to value as trades aren't very used at all. Sometimes they're deciding how to price units with very little use. Since it's harder to find many comparable sales on such low-houred equipment, we asked Bill Albaugh how he goes about determining how to most effectively value the nearly-new equipment for sale.
One of the questions we are frequently asked is how someone can prepare equipment before the valuation in order to receive top-dollar for his or her trade-in. We posed that question to Bill Albaugh who suggested a few tips to get equipment ready before calling the dealership to come take a look.
We have enhanced our website with a new feature we would like to point out to customers, users, or just anyone interested. While using the website (web app), you are able to sort the column(s) in the catalog which will flow to the exported catalog, helping with organization or ease of use. You are able to sort one column or multiple by holding down the shift key and clicking on the column header text in the order of relevance for you. It isn't permanent so keep clicking until you have the sort order you prefer, then export the catalog and retain the sort. Simple, right?
Thank you all for registering/attending the webinar with our host Dusty Reynolds from HeavyWorth and our panelists:
On April 29, 2021, we hosted a webinar to discuss CRMs and how technology helps streamline processes for dealers and others. Dusty Reynolds was joined by Tyler Samani-Sprunk from Simple Strat, Alex Robles from Great Plains Kubota, and Jason Hoult from Anvil App Works for an excellent panelist discussion of Hubspot, SalesForce, and other CRMs out on the market.
How do you value equipment? As dealerships gain in complexity, so do the workflows for technologies to support them. Many dealers use a host of tools and HeavyWorth can help streamline the entire process.
HeavyWorth provides software for dealers and lenders to streamline their valuation processes. But we're also a services company, and one of the services we provide is on-site, turn-key valuations of equipment. Last month, I had an assignment to capture information and pictures of a trucking fleet in another state for a lending institution. Since the trucks were over-the-road during the week, we had to schedule the site visit on a Saturday. Because it was an out-of-state trip, I didn't arrive back home until late Saturday evening with all the photos, VINs and other details of the trucks safely on my phone.
How much does the condition of equipment impact the value? Listen to Bill Albaugh describe how an asset's current condition can offer insight into the care that the piece of equipment has received over time and how that care — or implied lack of care — can influence a valuation.