A 20-ton excavator with 8,000 hours on the clock. The eight-year-old skid steer loader you’re looking to sell. Or that truck tractor you’ll need to replace soon. How much would they sell for in today’s market?

With productivity at an unprecedented high and long lead times on new equipment, it’s a challenging time for companies looking to buy or sell machinery. Helping to assuage such concerns, 'Asset Valuator' from noted auctioneers Ritchie Bros. is a new tool aimed at providing a realistic price for your machinery.

Sales Director, Rupert Craven explains more: “What makes this tool unique, is that users have instant access to millions of previously sold items from the world’s largest auction company and Europe’s largest machinery listing site. The algorithm provides a good price estimation that can be used when making decisions to buy or sell equipment.”

 The free online tool works by aggregating historical information from various sources, inlcuding Ritchie Bros itself, IronPlanet, Marketplace-E and Mascus. Using such data, the algorithm then calculates average prices and estimates the value of your equipment.

After logging onto Asset Valuator, users can search the database by brand, model, age, hours, mileage and more. Customised searches can be made by region, country and sales channel, and users can also compare current prices with those dating back up to two years. There is also a currency converter to calculate market values in other currencies.

That sounds like a highly useful resource, so head over to the dedicated website to give it a whirl. Meanwhile, Asset Valuator gets an extra point from us for giving the product a name that so accurately describes its function!