Price guide for heavy equipment?

[joshml]

Hey everyone!

I am new to the forum but wanted to take a minute to see if there was any interest in a project I'm working on that's like Kelly Blue Book but for heavy equipment. I am a programmer and after working with a few equipment dealers I realized there wasn't a service like this and thought I'd set out to create one. I hope this isn't infringing on any forum rules, and if so please remove it! I just wanted to have a chance to get some feedback from people who might use the service.

You can checkout the website here: http://dirtjockey.com.

My goal is to collect data from all over the internet and in-person when possible to create a guide that will more or less accurately give you an idea of what other machines similar to yours are going for all over the world. I know it is hard to give a specific estimate on a machine because of condition and customizations, but like I said, a general idea is my goal. I want to eliminate you from having to do the heavy lifting by going and doing research yourself. I'm happy to answer questions or get feedback from you guys. If you want to signup I'll give everyone who replies free access when the beta is open.

 

[joshml]

Ops, sorry for the huge link. I don't think I'm able to edit the post after I submitted. My bad!

 

[CM1995]

Welcome to the Forums joshml. Take a moment to read the Forum Rules - https://www.heavyequipmentforums.com/announcement.php?f=49

Specifically this section -

Aside from the "for sale" area, for member's personally owned goods, advertising of goods and services is not permitted unless sponsoring heavyequipmentforums.com. A vendor of goods or services may make one introductory post explaining their product or service and may answer questions about such within that thread. No further promotion of your product or service may be made without sponsorship. If you are interested in becoming a sponsor, click “Contact Us” at the bottom of any page.

Special Note: Vendors of goods or services, or their representatives, who join the forums and make no worthwhile contributions other than to post multiple links to said goods and services are considered spammers. Spammers will have their posts removed, and their membership terminated with extreme prejudice.

This thread is your "freebie" so feel free to answer questions and discuss your service in this thread only.

BTW - the 2011 314D trackhoe listed on the front page of your site is either one heck of a deal at $15K or it's missing an engine, pumps, travel gears and it's located in Guam.:cool2

 

[joshml]

Haha! When I was making the screenshot I was using gibberish data for testing. I'll fix that. Thank you!

 

[joispoi]

$199 a month? Are you kidding? KBB works because it's free. Anybody who's in the trading business is already on multiple email lists from dealers around the country and around the world. Stock lists and prices are constantly updated and exchanged for free.

I'm not saying that it can't be done. But I just can't imagine that any savvy dealer, trader or buyer would need to pay hundreds of dollars to get third party speculative information when they already have solid leads and concrete numbers at their finger tips.

If you want to make your idea work, it will have to be a free service with user participation. You can make far more money off advertising if you get enough users.

 

[joshml]

Thanks, joispoi!

Pricing is definitely something I am researching more. I would say that we will be offering more data and analytics than KBB. For instance, you can setup machines to watch and it will automatically collect information about a specific machine. You can also look through the raw data from all over the world, which you can't do with KBB. The goal is to be pretty instant. You want to know how much XYZ machine is going for in your area or how about the asian markets? It's as simple as inputting the data you have on the machine and getting instant results.

I'm not a huge fan of having ads on the site, but it's definitely something I will consider if that's what users prefer. My goal is to get people to try it and see if they get value out of it. Maybe offering a free plan of some sort would be a good idea. I was going to offer a free period for users in the beginning stages anyway.

 

[eric12]

I'm with joispoi, no ones going to pay for information you can easily find by making a few phone calls or looking online. rental rates aren't that big of a deal, you just call the local rental places and see if they have what you want and how much its going for then pick the best deal. and for purchasing a machine there are so many variables to consider i can't see making a reliable accurate system that accounts for service records, undercarriage life, the history of the machine, how tight the machine is or if it had a motor or transmission replaced. there are too many variables, the only way to make it work is if you had age, hours, a service record, oil analysis, a percent of life left in the undercarriage or tires, history, dealer information such as repairs or warranty work done to the machine, accessories such as multiple buckets or auxiliary hydraulics or a long stick all factored into an equation with very broad parameters for each piece of equipment that was narrowed by the above and many other factors to get a more reasonable price range and then that would have to account for present market values and the value of the dollar or exchange rates if its going outside of one country. if you could make a program for all of that where you specifically choose options to narrow the machine down that could work and be beneficial but you still aren't going to get people to pay $200 for information they can gather or have an idea of already on their own.

hope that helps i hate to say its impossible because its not, but i don't think its worth the time and energy it would take to make it work properly.

 

[joshml]

Hm, ok. I know there is some use out there or else EquipmentWatch wouldn't be in business. They charge starting at $1,000 for a report on machines. I figured you could get more info for a lot less.

 

[joispoi]

The only available numbers that you have access to are asking prices and auction results. Auction results are unreliable. There's too much variation in condition of the machines, and auction attendance and participation. If a seller has his machine at auction and sees that he's not getting his minimum price, he may bid on his machine, pay the auctioneer's fee but save himself a big loss on selling the machine too cheap. That leaves asking prices. I know that for any given asking price that comes into my email there is significant room to negotiate.

A machine that was listed for $65,000 might have sold for $48,000 and the seller paid for shipping. There's no way you can sift through that kind of data because it is simply not available to you or anybody else.

Knowing what a machine sells for in China or Russia is essentially useless information since the logistics involved in verifying the integrity of the machine to see if it's even worth buying and then eventually shipping are generally horrendous. The people who actually do trade on this level are in a position to sell you the information you want, not buy it from you.

Sorry if I'm a wet blanket.

 

[joispoi]

Hm, ok. I know there is some use out there or else EquipmentWatch wouldn't be in business. They charge starting at $1,000 for a report on machines. I figured you could get more info for a lot less.

This is the first I've ever heard of them. :beatsme

 

[joshml]

People have said that they sift through several marketplaces to find out a general idea of what machines are going for. So that is one data point, you can also find completed auction data from several sources online. Let's say I have some secret sauce to get real data and real verified prices on actual machine sales, would that make a difference? Can you think of any other value adding features that you would pay for?

 

[JDOFMEMI]

For most users, combining the info from Machinery Trader, Rock and Dirt, My Little Salesman, Access, and many others, mostly available for free, will give a pretty comprehensive idea of a machines value. There are always exceptions, but throwing out the highs and lows gives a good average. You get better info on popular machines, and less accurate info on seldom seen machines.
Most of the auction sites now feature sales histories of machines. As stated, the true condition may not be known, but again, you get a range to apply to the machine you are looking at. I use all of these from time to time, and would NOT spend any money for them. They make their money from the buyers, and providing the info steers buyers their way.

Prior to the internet becoming as useful as it is, there was a market for the info you want to sell, but with all of the free sources, I doubt there would be very many takers.