Determining the Value of Used Farm Equipment

Determining the value of used farm equipment can be a tricky task in the agriculture industry, but we’re here to help! Farm2Ranch facilitates the buying and selling of used farm equipment all over the midwest region so we’re very comfortable with the process. Because we know it can be difficult, we have broken down the process for you to make things simple. Keep reading below to learn how you can determine the value of your used farm equipment.

Used Farm Equipment Value

The first step to buying and selling used farm equipment is determining its value. To do this, you need to look at several factors including, but not limited to, the following:

  • Hours spent in operation

  • Condition of the equipment

  • Equipment features and specifications

  • Time of year

If a piece of equipment has been used for ten years and/or has some level of damage, its value is obviously going to be lower than a newer piece of equipment that’s still in pristine condition. Additionally, if a piece of equipment has all the bells and whistles and is in high demand due to the season, then it is going to bring a higher value than something standard and out-of-season.

Another factor to keep in mind is the ability to reference other sources. Don’t be afraid to do research on the specific farm equipment you’re trying to value. Look at the prices of sold equipment similar to yours, as well as dealer pricing. You can even ask an appraiser if you would like, just to ensure you’re not over/under valuing your equipment. Be aware, though: pricing is fluid and can vary greatly between a dealer’s pricing, an auction, or an appraiser.

However, they are good reference points for you and will offer additional insight.

How to Price Used Farm Equipment

Now that you know how to determine the value of used farm equipment, you can start putting your knowledge to work and pricing your equipment for sale. Keeping all of your sources in mind, evaluate your used farm equipment and determine a fair, reasonable value. Try not to focus on how muchyouthink it's worth, but be fair and honest about your pricing. This will ensure that you receive comparable offers, whether your selling it yourself or at an auction. Once you settle on a price that you feel is appropriate, then you’re ready to sell!

Ready to Start Buying and Selling?

Are you ready to start buying and selling? Visit our website here to see what is currently on the market and let us know if you’d like to list your own equipment. If you are interested in selling at used farm equipment auctions instead of on your own, that’s not a problem! Click here to view our convenient auction finder. You can search by state to find an auction near you.  

If you have any questions at all, feel free to contact us anytime. We’re happy to help!  

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Farm2Ranch406 Stevens Street, Iowa Falls, IA 50126 • Tel: (800) 442-3276 • Email: info@farm2ranch.com