Top Bid, a provider of construction equipment and heavy truck auction results, announced that it will publish auction price trend charts on its website at http://topbid.com/auction-trends.html. The trend charts will be updated each month and will include auction results as recent as the chart posted date. Top Bid creates a monthly trend chart that includes the data from all machine sales in 25 different equipment types ranging from excavators to water trucks.
The trend charts are derived from Top Bid’s Price Reference Guide database that includes more than 450,000 auction results dating back to 2006. The database covers more than 7,000 brands of equipment, such as Caterpillar, Deere, and Komatsu construction equipment, and Mack, Volvo, and Peterbilt heavy trucks. The database monitors Ritchie Brothers, Alex Lyon & Son, IronPlanet, and more than 60 auction companies.
Companies that own, buy, sell, or finance heavy trucks or construction equipment will benefit from knowing auction result trends. Equipment values fluctuate daily depending on the prices of similar equipment sold at auctions. Buyers can determine the low end that they can expect to pay, and estimate how much a dealer has invested to recondition the equipment they have for sale. Sellers can evaluate if the equipment’s value will increase or decrease in coming months based on the recent trend. Leasing companies use auction values to assess the residual value at the end of the lease term. A higher residual value means a lower lease payment. Lastly, banks want to ensure they can sell equipment in case of a default. Since they will expect to receive auction prices when they liquidate repossessed equipment, they will use recent auction prices to determine the maximum amount they will provide when refinancing.
Top Bid publishes the Price Reference Guide, which offers the cleanest and most reliable auction results in the industry. Each auction result has a standardized description including the item condition, attachments, and the serial number.
Top Bid also publishes the Serial Number Guide to verify the year of manufacture for construction equipment. Top Bid is a division of Randall-Reilly Business Media & Information.