The Price Discovery tool finds similar lots recently sold and returns the lot description, image and sold/passed-in price.
Summary
The wide, varied and volatile nature of Australia’s agricultural machinery market can make it extremely difficult to understand the current value of marketed machinery. An inaccurate valuation either excludes the seller from the market, or undervalues the listed lots - both undesirable outcomes for seller and agent alike.
There is an opportunity for AuctionsPlus to offer some assistance by positioning a search feature within Listings Portal to offer price analysis of successful historical transactions of ‘similar’ stock. The Price Discovery tool finds similar lots recently sold and returns the lot description, image and sold/passed-in price.
How do I access the Price Discovery Tool?
The Price Discovery tool is positioned within the 'Edit Listing' (Price) screen within the Listings Portal. This provides the machinery broker with access to historical insights exactly when required.
What does the Price Discovery Tool provide?
These insights provide both an analysis of relevant historical sales results and further insight and evidence as to where these values are derived.
A - Lot tile/description driving the initial search result(s). The machinery broker may edit to either broaden or narrow the search.
B - Date Range. Select from the drop-down the duration to search across the defined duration.
C - Assorted filters supporting search focus, including:
- Location
- Town
- State
- Region
- Category
- Type
- New/Used
D - Search Results. The machinery broker may click a lot to drill into detail and access full description, selling agents and other valuable information.
Important Considerations
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This Price Discovery tool is designed to offer machinery brokers and selling agents an accessible opportunity to review recent sale results.
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The feature is not a replacement for machinery brokers and selling agents experience, expertise and professional understanding of machinery markets and buyers demand.
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The insights offered are visible only to machinery brokers and selling agents within the Listings Portal. Sharing these insights with vendors is at the discretion of machinery brokers and selling agents.
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Responsibility for setting prices (including Reserve Prices, Start prices, increment bid values and Buy Now values) remains with machinery brokers and selling agents. There is no obligation to adopt the AuctionsPlus Market Insights' values.
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The values presented are based upon the values submitted via the search parameters and so are unique to that search. Care should be taken interpreting these values as indicative of other lots, or the machinery market in general.
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The Price Discovery tool does not draw upon current-date sale data results.
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The Price Discovery tool draws from AuctionsPlus sale results only.