Construction equipment dealers, manufacturers and lenders can now more closely evaluate the value of construction equipment based on a proven appraisal methodology with an 80-year track record.
Equipment appraisal innovator Iron Solutions, Inc. has adapted its popular IronGuides Agriculture platform to the construction equipment market. IronGuides Construction is a unique and proprietary tool based on normalized retail sold transactions adjusted for geography, hours and attachments, with all data provided by dealers.
According to Director of Construction, Terry Rasmussen, a 30-year construction industry veteran, “The company was originally started by several dealer associations, and we remain focused on providing to dealers and industry professionals the best tool possible for equipment valuation. The increased precision of construction equipment valuations will be a major difference to those involved in equipment sales, purchases, and financing. Never before has there been a system this robust to make these critical decisions.”
Rasmussen adds that IronGuides Construction offers:
- Better Decisions – Insight that comes from an aggregated dataset removes biases that may exist in internal data.
- Better Data – A proprietary model that displays average hours of use by machine type and size class as well as the impact on value for above or below average use.
- Efficient Appraisals – A standardized valuation process that allows for easy adjustments for hours, attachments, local region and condition for each machine.
- Trusted Partner – With Iron Solutions’ history as a trusted third party, equipment dealers can confidently and directly report sales transactions.
“Iron Solutions has been a leader for over 80 years in providing data and tools for the ag equipment market,” Rasmussen said. “With our relationships, experience and web-based tools, our objective is for IronGuides Construction to provide the data insights needed to ensure that customers can make profitable, data-driven decisions.”