Does anyone know if there is an accepted formula for figuring the market value of a used TLB? I see so many wild variations in the used market, some seem reasonable, some below, some wildly overpriced. While I know there is a huge variation in machine condition, is there a rule of thumb for used equipment? e.g.- deduct XXX amount for every 1000 hours, or deduct YYY for every year old, etc.?
It depends on the local and regional market for the machine. Backhoes, especially with a little age vary greatly in condition due to hours used, maint., abuse etc - so you have to take each machines condition into the equation. In some markets backhoes are in high demand and other markets not so much. It's best to see what the prices are in your area. Transporting a backhoe (IE - you buy it in the East and ship it West) can be expensive, so that also adds to the equation. So in a nut shell there is no real "formula" to determine the value of a used piece of iron, it takes time and effort to compile what is available for sale out there, the condition and the asking price. Then use this information in determining if a machine for sale locally is a good deal or not. Dealers have historical information on used equipment sales, that's what they use to price trade-ins (bottom of the market) and their used equipment for sale (top tier of the market).