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Help figure the fair market value.

Discussion in 'Lawn Mowing' started by TOSLC, Feb 25, 2002.

  1. TOSLC

    TOSLC LawnSite Member
    Messages: 175

    I'm currently taking night classes at IUPUI (Indiana University, Purdue University Indianapolis) for a degree in Business Management. I have a full time job, and run a small Lawn & Landscape business on the side. One of the classes I'm taking is Contemporary Entrepreneurship. Part of the class requires us to develop a business plan for an existing business, or a business that we are interested in starting up. In the business plan we have to include Fair Market Value of equipment that currently has loans. So, my question is what do you guys think a two year old Exmark Turf Tracer Hp, 48" cut, 15Hp Kohler, with about 150 hours is worth? I also have a backround in mechanics, so the equipment has been taken very good care of.

    BTW-This class is killing two birds with one stone. I'm getting credit hours, while helping to develop my business! Thanks again for your help.
  2. awm

    awm LawnSite Gold Member
    Messages: 3,354

    cant address value ,but i got to watch an exmark wb 48 today at the hospital.excellent excellent controls and cut etc.
    impressed me rite smart. later
  3. Toroguy

    Toroguy LawnSite Bronze Member
    Messages: 1,075

    The market will dictate the price, put it up for sale, starting high, then reduce until it sells.

    Look at the prices others are selling similar used models to determine a range for the value.

    Maybe 75% of original price?

    Good luck
  4. packy

    packy LawnSite Member
    Messages: 12

    do people have a hard time reading? it was a question asked. nowhere did it say anything about seeing one cut or putting it up for sale. responses like that are a waste of time!!!! The gentleman was simply sking a simple question. Contact an exmark dealer and they'll tell you what it's worth.
  5. awm

    awm LawnSite Gold Member
    Messages: 3,354

    packy ole boy ,ill try to do better .there now ,we cool right:
    u keep us strait bro.
  6. Umm did you read the post?

    I see you gave a simple answer, just like my simple answer!!!

    Simple answer ------------->$2,500 tops!!

    BTW Toro gave the best responce although it is not for sale, that would be the way to get the best price for it.

    Not what you dictated. Dealer will screw when he sees you coming to trade a mower in, Therefore he will not give an accurate price to the fellow for his class.
  7. TOSLC

    TOSLC LawnSite Member
    Messages: 175

    As always thanks for the help guys.

    I'm currently searching the web to find similar mowers for sale. This will allow me to average the prices, and come up with what I feel is a FMV.

    Thanks again, John.
  8. lsylvain

    lsylvain LawnSite Senior Member
    Messages: 778

    if you don't have a book value for the equipment you should call a dealer. however Market Value is not always the fair value of something. The number you would use from an accounting standpoint would be the cost of the equipment when new plus and capital improvements minus depreciation that would be the book value of the mower. Of course you don't always have that info.
  9. alawson

    alawson LawnSite Member
    Messages: 4

    Well he is from New York--what do you expect
  10. dlandscaping

    dlandscaping LawnSite Senior Member
    from mass
    Messages: 835

    you could try the exmark site and look under preowned equipment. i believe there was a 48inch tthp in there last time i checked but i may be wrong, or you could ask the exmark guy (forget name right now) in the exmark forum.
    i agree with lgf in the $2400-2700 mostly based on age not hrs. used.

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