How to determine fair market value when selling construction equipment?

[Vaughn Wilson]

Hey folks, I’m getting ready to sell some used construction equipment and was wondering about what’s the best way to figure out fair market value? Are there tools, websites, or benchmarks you use to price things right without lowballing or overpricing?

 

[John Calvin Lewis]

Hey Vaughn! A good starting point is checking recent listings on sites like Machinery Trader or Ritchie Bros to see what similar equipment is going for. Also, condition, hours of use, and brand can really swing the value, so be sure to factor those in when pricing!

 

[PeterN.Newman]

Hey Vaughn! I’ve sold a few machines myself, and I usually start by looking at local auction results and online marketplaces like IronPlanet. It really helps to see what similar models are going for in your area. Also, don’t forget to get a professional appraisal if you're unsure about the condition – it can give you a more accurate market value.