It’s Time for a Change in How We Determine Equipment Values
[Author: Tom Junge, 07.2016 | Keywords: Iowa Field Notes, Equipment Values, Change] Not too many years ago (maybe 5 or 6 years), dealers used the “Official Trade-In Guide” to determine the value of equipment. Depending on the condition of the equipment, dealers primarily used Retail Price or Trade Premium. When the ag industry boomed, trade-in guide values struggled to keep pace with rising equipment prices. As new tools became available online, dealers switched to what I call “TractorHouse Pricing.” Dealers would go to TractorHouse and look up the average retail price for a specific piece of equipment with the goal… Read More »