How To Track Equipment Value: Observe Price Trends and Market Forecast
Navigating the buying and selling of heavy equipment can be complex. Boom & Bucket's new pricing tool simplifies this process, providing real-time valuations to guide your decisions effectively. Here’s a step-by-step guide on how to maximize its benefits whether you are in the market to buy or ready to sell.
Step 1: Log In and Access the Tool
Start by logging into your Boom & Bucket account at the top right corner of any page on BoomAndBucket.com. This tool is available at no cost to all users within our platform. Once logged in, direct yourself to the dashboard where the pricing tool is located.
Step 2: Enter Equipment Details
To get a valuation, enter the details of the equipment:
Make
Model
Year
Miles or hours of operation
These details help in assessing the equipment's current market value accurately.
Step 3: Submit and View Instant Estimates
After submitting the equipment details, you will receive instant price estimates. The tool calculates both retail and auction prices, giving you a comprehensive view of the market.
Step 4: Understand the Valuation Confidence Level
Alongside the price estimates, the tool provides a confidence level—low, medium, or high. This indicator is based on the number of data points analyzed to give you the valuation, helping you understand the reliability of the estimate.
Step 5: Track Valuations Over Time
Use the tool to track these valuations over time. You can input new data as often as needed and keep a record of all past queries and results in a spreadsheet format right on your Boom & Bucket dashboard. This feature is particularly useful for monitoring market trends and timing your transactions for optimal financial return.
Step 6: Leverage Data for Smart Decisions
With millions of data points at its disposal, the pricing tool offers unparalleled accuracy in its valuations. Use this data-driven insight to make informed decisions, whether you're buying at a value or selling at the peak price.
Conclusion
Boom & Bucket's pricing tool is more than just a feature; it's your personal advisor in the heavy equipment market. By following these steps, you can harness the power of data to make smarter, more informed buying and selling decisions. Equip yourself with knowledge and navigate the market with confidence.