IronPlanet appraises sale equipment for you

Posted by IronPlanet on Sep 28, 2012 2:59:00 AM

If you're thinking about selling your used construction equipment or agriculture equipment, you may be wondering how to figure out your item's worth. If you auction off your used tractors, mixers and other equipment with IronPlanet, the online auction site can help determine the financial details of your goods.

The company has appraisers who can evaluate your machinery and tools based on current sales data and equipment values. The appraisers are equipped to assess the appropriate starting price for your auction items, whether you are looking for Fair Market Value, or you are selling due to an orderly or forced liquidation. The circumstances of your sale may affect the value of an item. IronPlanet appraisers can also assist you in understanding how the sale will affect your taxes, estate planning and any other circumstances you may be dealing with. This ensures your estimate is accurate and suits your needs.

IronPlanet appraisers are well versed in their work, as the company has been assessing construction and agriculture equipment since 1999. This translates into tens of thousands of appraisals, including more than 25,000 items in the past two years alone. The company complies with all regulations and standards of the Appraisal Foundation in the Uniform Standards of Professional Appraisal Practice.

In addition to helping you assess the worth of your items, IronPlanet also provides information to help you determine if your sale can be completed as a "Tax Free" exchange. For example, if you were to sell a rotary tiller and then use the profit to purchase a new tiller, you could be exempt from paying income taxes on the item you sold. A 1031 exchange form allows you to defer your federal income taxes if you buy equipment like the one you sold as long as your purchase is made within a set time frame.

Topics: Construction