The challenging part of selling your trees is determining the actual value of standing timber without any professional assistance. Especially, if they are large in quantity and differ in shape and size. Only a few land owners understand the method or right ways to measure and evaluate the value of standing timber.
It is imperative to understand that the price of standing timber depends on various factors and can vary from one tree to another. Therefore, it can be challenging to determine the exact price or rough estimates without basic knowledge of timber valuation.
Factors that can easily influence the price of timber include
- Size- The larger the size, the greater will be the value. Small size timber is valued much lower than larger big and fat-sized trees. If trees are in good condition and large, you can easily sell your timber at desirable prices.
- Species- The second most significant factor that can easily influence the price of your timber is the species of wood. Rare and high-demand species usually cost more than other types of trees. If your woods are not rare but in high demand, you will still beagle to earn good money. It is recommended to seek help from a professional forest company to know more about the species of your trees.
- Location- The location of your trees can easily fluctuate the value of your standing timber. If you harvest trees specifically available in your area, you can expect buyers to give a high price for your timber. However, if you harvest trees commonly available in your area, you must check the market price before negotiating with your buyers.
For the online selling process, it is recommended to highlight specifics of your trees that can help buyers understand the type of timber you are planning to sell. It is always beneficial to determine the needs and requirements of people who wish to buy Timber in Fulton County, IL.
Type of inventory valuations
Now let us look at the different methods used in determining the value of standing timber.
- 100% tally method
The 100% tally method is the most accurate valuation method that can help you determine the exact value of your timber. This method is most appropriate for small size lands or lands where trees are sparsely populated. In this method, all trees are measured separately based on their specifications. Later all the values are combined to determine the overall or average standing value of timber.
- Plot sampling
The plot sampling method is more common in privately owned lands. This method does not offer accurate results as the 100% tally method. However, it is quite effective. If you can not invest much time in the price valuation method, then plot sampling can be an excellent option for you.
Other methods that you can consider using the strip sample method, point sampling, and more. Use the method that can help you get accurate estimates and earn a good amount of sales revenue.
If this is your first time using valuation methods, you should consider seeking help from experienced professionals who can assist you with determining the best price for your standing timber.