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AGRICULTURE

Tractor Zoom Launches First-Of-Its-Kind Price Prediction For Auction Equipment

Author

Tina Kendall

January 31, 2022

Tractor Zoom announced today the launch of its new What’s It Worth? feature for over 40 makes and models of equipment up for auction. The new feature, which is the first for any equipment marketplace, utilizes Tractor Zoom’s extensive database of equipment auction data including equipment hours, condition, age, make, model and size category. Using this information, in addition to measures such as inflation and cutting-edge machine learning techniques, Tractor Zoom is now able to predict the sale price of a piece of agriculture equipment with a high degree of precision.

“It’s our goal at Tractor Zoom to help leaders in agriculture make confident buying decisions about farm equipment,” said Kyle McMahon, Founder and CEO of Tractor Zoom. “The biggest pain point for farmers when buying equipment, according to our research, is understanding what equipment is worth and this new feature will put them one-step closer to answering that question.”

Equipment available for What’s It Worth? will include not only the average low and high price point for the specified piece of equipment, but the predicted price identified by Tractor Zoom. Visitors can provide their feedback on what tractors or other equipment is worth by voting lower or higher than the featured predicted price. Additionally, visitors can sign up to be notified after the auction is over to view the final sale price. 

“Developing a predictive pricing model has definitely been a challenge given this year’s market volatility,” said T.J. Masker, Senior Product Manager for Tractor Zoom. “However, with over 80% of auction listings available on our site, we have a great data set to work from and when the market stabilizes our hope is to scale What’s It Worth to a greater number of makes and models, providing more price transparency to farmers.” 

What's It Worth YouTube Video

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