Are you buying or selling at the right price? When trading cars, you have no trouble determining the market price. Unfortunately it’s a different story with heavy machinery and commercial vehicles. The market for this equipment is a lot less transparent – until now. Meet the unique TRADUS Market Value tool, or TMV.
Introducing: your intelligent price check tool
Calling the TRADUS Market Value tool a price checker does actually not do it justice. The TMV is a complex piece of engineering that uses Artificial Intelligence. It does much more than just compare prices. Before we get into the details of how the tool works, let’s look at how it benefits you:
- Sellers get better insights in the market value of their stock.
- Buyers can check the fairness of a listing price in an instant.
The TMV tells you if a price is above, equal to, or lower than the fair market price. The tool also tells you by how much the price differs from the market value.
How the TRADUS Market Value tool works
At the heart of our TMV is an intricate algorithm. It compares prices based on thousands of attributes. The output is a price rating that helps you determine if the offer is worth your time – and money.
Factors that are taken into account (if applicable) include:
- The country the equipment is located;
- the make of the equipment;
- the model of the equipment;
- the version of the equipment;
- the year the equipment was built;
- the mileage or running hours;
- other specific attributes, such as configurations and transmission;
- the emission category;
- the engine power, and
- the fuel type.
These are just a few examples. In reality, the tool uses many more attributes.
After weighing all factors, the TMV compares the listing to comparable current and past sold listings in the same market. Based on this comparison, it calculates the fair market price for vehicles similar to the one shown in the ad. This price, the TRADUS Market Value, is then compared to the price of the offered vehicle or machine.
What you see
In the ad of the vehicle or machine you’re interested in, you’ll notice a price rating shown underneath the asking price. For example:
This is the output of the TMV. It shows you the following info:
- Our price rating, which can be:
o GREAT PRICE: the price is well below market average – a great deal!
o GOOD PRICE: the price is below the market average.
o FAIR PRICE: the price is (more or less) equal to the market average.
o HIGH PRICE: at this price you’re overpaying.
o OVERPRICED: the price is far above the market average.
- The estimated savings or overpayment: we tell you exactly how much the listing price is above or below the market value.
- The TRADUS Market Value: what our tool, based on thousands of factors, calculates as a fair market price.