There is 3 main methods you want to start off with with getting your value:
Sales Comparison- To start off you may want to check websites like ebay, lsn, and craigslist to get an idea for the prices time similar to yours are going for. Determining prices of used equipment value is not as easy as what you may think. You will not be able to determine how long it will take to sell, but you will know if the price you have been offered is reasonable.
Cost Methods- Many times your only way of finding out the value is to contact a used machinery dealer that is actively selling equipment. The dealer will be able to tell you the best value of your product that will help you easily sell your farming tools today instead of just accepting someone’s ridiculous asking price online. They will consider market conditions, products that are similar equipment pieces, previous auction sales and many other factors when giving you a solid value or offer on your machinery.
Income Methods- This method will be based off of a value for equipment based on how much income it will make. It may be based on more things when the situation is specifically attached to a certain income flow.
Another factor to consider is that businesses need to know the values during insurance claims or to be sure that they have proper insurance covers.