This $250,000 Caterpillar Bulldozer Can Be Yours For The Low, Low Price Of $55

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by Tyler Durden
Thursday, Jan 28, 2016 - 17:09

After today's CAT earnings, in which the company not only announced a steep drop in revenues, profits and cash flow but also obliterated its guidance, cutting the midpoint of the 2016 revenue range (set just three months ago) from $45.5 billion to $42 bilion, it should have become clear to everyone just how bad the company's income statement is.

But what about its balance sheet and specifically that $10 billion in inventory? We got a glimpse back in November when we showed how at an auction in Australia, CAT loaders, excavators and tractors, with MSRPs in the millions, were selling for sub-pennies on the dollar, or as low as $15,000 for a machine that was originally sold for $2.9 million.

The post quickly went viral and while many readers were impressed by the collapse in demand (as reflected by the auction prices) for CAT equipment, some wished they too could participate in the bidding process: after all, what better way to make an impression on one's neighbors than to take a leisurely stroll down the street in a bulldozer, especially if its costs virtually nothing.

To all readers who wrote us complaining about this, you are in luck.

Below we present a Caterpillar D6T Bulldozer, a machine which has a "new" MSRP of over a million dollars, and which with over 5,000 hours of use, sells through reputable dealer channels, for around $250,000 each.


Or, as the case may be, does not sell because while $250,000 is well below the MSRP, it is clearly still too high for that occasional leisurely drive around the neighborhood. Or for any other purpose for that matter.

But what about $50?

Because that is what the bid is on the exact same dozer (one which has even less total use, or just 3680 hours) currently offered for sale on Proxibid, where with 20 hours left until the end of the auction, $50 is all someone is willing to spend for this heavy machinery marvel.


Here are some more photos of the gorgeous, barely used machine you could be the proud owner of for the low, low price of $55.00


Cherry on top: the high-end audio system comes included in the price.


What are the terms of the auction? Well, what you buy is pretty much what you get "as is." But surely there is a catch, like $249,950 shipping? Well no - you just have to go to Louisiana and pick it up.

But what if $50 feels too rich for this bulldozer? There is always this $10 Komatsu may be more up your alley.

Perhaps a bulldozer is not what you need: then how about this $110 Volvo excavator?

Or maybe neither a bulldozer nor an excavator is your cup of tea? That's fine: judging by these (lack of) bids, nobody else has an urge to splurge either.

Which brings us to our original question: if a bulldozer which retails new for over $1 million, can not sell via official channels For 250,000 and has a true price discovery in the hundreds if not tens of dollars, what does that suggest about i) the true mark on Caterpillar's $10 billion in Inventory, and ii) the losses that CAT's banks are starting at if they ever are forced to liquidate the "collateral" that backs their loans?

Source: Proxibid