A recap from the shared insights, questions and peer interactions from the 7 concurrent roundtables on important remarketing subjects.

As the industry attempts to leverage best-in-class used remarketing practices to today’s marketing technologies, a special session was added to this year’s Dealership Minds Summit — at dealers’ request.

After networking over cocktails and during the sit-down dinner, we’re bringing you yet another added bonus session that examines the future of the used equipment trades from early-adopter models in other industries — those that in short time will infiltrate the farm equipment industry.

With prognosticators continuing to forecast lower wholegood sales throughout 2017, and no significant uptick in such sales before 2019, it is imperative that dealers intent on surviving this protracted downturn rethink their view of the wholegoods department. Impacting this transformation will be the fact that most of the manufacturers, if not all of the majors, will be putting pressure on their dealer organization to significantly increase dealership market share, says Dr. Jim Weber.

Correctly valuing used equipment is Job 1, and while there’s no silver bullet, you can increase your odds and limit those deals where you’ve been “bitten too hard” by following a disciplined, data-backed approach. During this authoritative panel discussion, 3 experienced dealers from different regions of the U.S. share the process they use to determine the best value for used equipment to get it sold.

A recap from the shared insights, questions and peer interactions from the 8 concurrent roundtables on important remarketing subjects.

Due to the number of attendees that preregistered for this topic, the “Valuation Data Sources: What, Who & Why?” roundtable was held both days of the Dealership Minds Summit – Roadmap to Mastering Equipment Remarketing. The majority of dealers attending this session were looking for better tools to use when placing a value on used equipment and trade-ins. One dealer said, “It is an inefficient marketplace, the information is bad. How do we get better information?”

Much like in the auto industry, certified pre-owned (CPO) purchase programs can offer a buyer piece-of-mind with their used equipment purchase. But, offering CPOs may not always be the best decision for your dealership or your customer. There are a variety of financing and support options available across major suppliers like Case IH, Deere and AGCO, however one constant variable is that major suppliers expect higher dollars on certified pre-owned sales. Dealers gathered to discuss what they’ve learned from CPOs during a roundtable moderated by Kyle Kennedy, Livingston Machinery, during the Dealership Minds Summit — Roadmap to Mastering Equipment Remarketing.