What's it Worth?

Discussion in 'General Industry Discussions' started by TNLC owners, Nov 1, 2007.

  1. TNLC owners

    TNLC owners LawnSite Member
    Posts: 41

    I am planning on attending an auction this weekend and might purchase a couple of items to use in my business. However, I would like to get some opinons on the value of these items before I go.

    1) 1989 Chevy 3500 w/meyer snow plow and dump bed. This really ins't a dump truck, it's more of a flat bed which dumps. The truck has 118K on it and looks to be in very good shape from the pictures I have saw. It doesn't look like it has been used commercially before. This truck is a 4X4 and has the 454 V8 in it. According to Kelly Blue Book, the truck is worth anywhere from $3,400 to $3,800. I thought this figure is a little high considering the truck is nearly 20 years old. However, I'm sure the plow and dump bed affect the value somehat. In addition, what should I look for to make sure the plow and bed are in decent shape? I'm not very familiar with either feature and don't want to buy a lot of problems.

    2) Troy-Bilt tiller with a Kohler Magnum engine. It looks like this is an electric start model that has hardly ever been used.

    Thanks for your help. By the way, this looks to be an estate auction and not an equipment consignment auction, so I think both items are in good condition and have not been abused from what I have saw.
     
  2. bbahun

    bbahun LawnSite Member
    Posts: 31

    I would probably not give more than $4000 for the truck and plow. Depending on the condition of the plow it is probably worth about $1500. The tiller I would check and see what a new one costs that is comparable and would not go over 75% of the original cost of a new one.
     
  3. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    Take the vehicle to Kelley Blue Book, stop the guessing, get the actual value, bid accordingly and be done with it.

    No, more likely than not you will almost never get a vehicle for less, more is almost certain, but less is unlikely.
    Hard as it may sound to believe, most vehicles and most guesstimates are well over the blue book value, but the blue book is what the car is worth, today, in the real world. It's neither your fault nor mine that most folks fail to understand the concept of depreciation, but just because most vehicles are well over priced doesn't mean you should pay more.

    But I ain't doing it for you folks no more, you take it there, you find out what it is you forgot to check and write down / what info you have to have, because once you figure out how to get the real world value of any vehicle all your headaches are forever resolved.
     

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