Go to the manufacturer website of your tractor (i.e. John Deere) and use their dealer locator to identify the closest dealer to you. Contact your dealer and provide them with the details of your tractor such as year, model, condition. They will be able to provide you with an estimated value.

Is there a blue book for farm equipment?

IronGuides® – the blue book for farm equipment – is a good source because the valuations are based on actual retail transactions, he commented.

How do you calculate depreciation on a tractor?

Depreciation: Depreciation covers the decline in the tractor’s value over its life. Depreciation is calculated as: (purchase price – salvage value) / years of ownership. The purchase price equals the list price of the tractor (Table 1) times 85 percent. The salvage value gives the price of the tractor when sold.

How much is a used tractor worth?

Used Tractor Average Costs Gently used compact and small tractors with up to 40 hp sell for anywhere from $6,000 to $15,000. A three-year-old agricultural tractor with 50 to 75 hp would likely sell for $20,000 to $35,000. A gently used agricultural tractor with 95 to 120 hp would sell for $50,000 to $75,000.

Where is the best place to sell a tractor?

Sell your tractor outright to a dealer (usually not a great option as most dealers don’t want to carry a lot of used inventory). Sell privately (directly) by listing your tractor in our local newspapers, farm magazines, craiglist or ag forums on-line.

Is there a blue book on tractors?

Honestly, there is no blue book in the tractor industry. They always value a tractor to high or to low. The best thing for getting a close figure on a tractor’s value is by going to farm machinery auctions.

What is the depreciation rate for a tractor?

8.3 %
Our estimation results indicate that depreciation of farm tractors may be approximated by an 8.3 % annual rate, which is lower than most previous estimates and the depreciation allowed by the current tax laws.

Can you depreciate a used tractor?

The tractor, by IRS rule, has a 3 – 5 year useful life. You will want to depreciate it over 5 years. Entering your information in TurboTax, treat it as a business asset, so the depreciation calculations are activated.

How to determine the value of farm equipment?

Farm Equipment and WEDA surveyed dealers to determine what data sources they were using to determine the valuation of used equipment. On a scale of 1-10 (with 10 being the most influential), dealers were asked to rank the influence level of 10 data sources, including:

How can I find out the value of an old tractor?

Possible sources include, recent auctions, your dealership’s sales history, inline dealers, competitive dealers and equipment jockeys. If you realize you priced a used unit incorrectly, address it immediately and adjust the price.

How to find the value of construction equipment?

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Do you know the value of your tractor or combine?

An error occurred retrieving equipment types from Iron Solutions. Try again later or contact a site administrator. What’s It Worth? Do you know the value of your tractor or combine?