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Episode 22 | Jake Bryce

Unlocking the Value of Warranty in Equipment Sales | Jake Bryce

REAL-TIME EQUIPMENT VALUATION & PRICING

POWERED BY THE FASTEST GROWING, MOST TRANSPARENT FARM EQUIPMENT AND HEAVY MACHINERY DATABASE

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In this conversation, Andy Campbell and Jake Bryce discuss the importance of warranty in the used equipment market, particularly focusing on how it affects auction prices and dealer strategies. They analyze data trends, the role of warranty in managing risk, and how it can help speed up sales. The discussion also touches on market conditions, the significance of building trust with customers, and strategies for dealers to improve absorption rates and manage aged inventory effectively.

Chapters

Introduction to Machinery Scope and Its Mission 01:09
The Value of Warranty in Used Equipment 03:03
Data Analysis of Auction Results 10:04
Dealer Perspectives on Warranty and Sales 16:56
Market Trends and Strategies for Dealers 23:36
Conclusion and Future Outlook 31:32

▶ Key Takeaways

Data analysis shows auction prices are higher for equipment with warranties.
Dealers can leverage warranties to manage used equipment more effectively.
Understanding the market trends is crucial for pricing strategies.
A warranty can help speed up the sales process for dealers.
Buyers often seek equipment with warranties despite initial reluctance.
Aged inventory can be moved more efficiently with warranty options.
Cost of ownership can be managed better with warranty coverage.

▶ This episode's guest

Jacob (Jake) Bryce is the founder and President of Machinery Scope, a family‑owned business he started in 2013 to improve how the equipment industry handles used equipment, appraisals, inspections, and extended warranty programs. Jake grew up on a row‑crop and cattle farm near Glenwood, Minnesota, and studied business administration and agribusiness at North Dakota State University, getting an early start in the industry working with Titan Machinery while still in college.

While at Midwest Machinery, Jake managed multiple dealership locations and handled used equipment sales and asset management. Alongside those roles, he began building Machinery Scope, driven by his goal to create a more reliable marketplace for used equipment. Under Jake’s leadership, Machinery Scope added its Finance Scope platform in 2018 to broaden its services. The company is committed to quality and service, believing strongly in solutions built by people who have worked on the farm, in equipment sales, and know what both dealers and equipment owners need.

Beyond work, Jake lives with his wife Jenna and their four children. He enjoys cattle, snowmobiling, wrestling (he wrestled for the NDSU Bison), spending time on the lake, and supporting NDSU Bison athletics.