Systems and methods for determining a benchmark price

A computer system, comprising:

• a database containing equipment sales records;
• and
• a processor configured to:
• receive a request for the equipment benchmark price for a piece of equipment of a first equipment age wherein the equipment benchmark price is associated with a first time period;
• receive a reference price point reflecting and associated with a second equipment age and a second time period;
• determine a value retention schedule including a first value retention rate for the first equipment age and a second value retention rate for the second equipment age;
• determine an equipment price index including a first price index data point for the first time period and a second price index data point for the second time period;
• determine the equipment benchmark price based on the reference price point, the first and the second value retention rates, and the first and the second price index data points;
• and
• provide the equipment benchmark price for an assessment of equipment price performance.

A computer-readable medium for use on a computer system configured to generate an equipment benchmark price, the computer-readable medium having computer-executable instructions for performing a method when executed by a processor, the method including:

• receiving a request for the equipment benchmark price for a piece of equipment of a first equipment age wherein the equipment benchmark price is associated with a first time period;
• receiving a reference price point reflecting and associated with a second equipment age and a second time period;
• determining a value retention schedule including a first value retention rate for the first equipment age and a second value retention rate for the second equipment age;
• determining an equipment price index including a first price index data point for the first time period and a second price index data point for the second time period;
• determining the equipment benchmark price based on the reference price point, the first and the second value retention rates, and the first and the second price index data points;
• and
• providing the equipment benchmark price for an assessment of equipment price performance.