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Mistakes in selling timber can cost dearly. Improper preparation and a poor marketing program can guarantee less than adequate compensation and can lead to headaches after the sale.
No step in growing trees is more important than the sale of timber. You cannot spend too much time studying how to do it. If you really expect to get the greatest benefit from the sale of your trees, you need to take time to learn how to do it. Selling timber is really not a good do-it-yourself project. You know the value of a doctor or lawyer when it comes to their specific areas of knowledge. Consider a forester in the same light.
Price quotes alone can become very confusing because timber may be bought in various units called cords, pounds, tons, board feet, and cubic feet.
Unless the trees are marked so that each buyer is looking and bidding on the same trees, comparing bids can be like comparing apples and oranges. Selling timber requires expert advice as to what trees to cut, how they should be harvested, and what they are worth. At the very least, have a forester review your sale proposal. Private consulting foresters handle sales for a living.
They usually offer a wide range of specialized services, including comprehensive timber sales assistance, on a fee basis. Fees vary so you should understand what such a service will cost and how that may influence the sale. Many landowners find this expense more than offset by the higher selling price consultants often obtain for their timber. They probably sleep better at night as well.
Other objectives for ownership and management, such as recreation, wildlife and aesthetics should be considered before the sale. A forester who has a perspective of past sales can assure a much smoother sale and harvesting operation and avoid problems that may affect a forest owner's other objectives.
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Timber owners should have some idea of what kind of timber they have to sell and the associated volumes. A forester can inventory timber and provide an estimate of volumes available for harvest. Potential buyers are more likely to be interested if they know what kind and how much timber is being offered for sale. This report can then be used to estimate a fair price you can expect for your sale. Timing is important in getting the best price for wood.
The best time to sell, obviously, is when demand for timber is up and prices are at a peak. This is easier said than done but you do need to be aware of current stumpage prices and market conditions in your particular local market. With the exception of a specific disaster from pests, weather, fire , you should not be rushed into a sale. Trees, unlike other farm products, can be stored on the stump during poor marketing conditions. One constant that history confirms is that timber values eventually go up.
Use the following "know" factors when sizing up your sale: Know the demand for and type of product you grow: The best prices are paid when demand is high and demand may differ as the potential product differs.
Know the species for sale: Some tree species command higher prices than others. This is due to high demand or limited quantities of some species, or their special qualities. Know the quality of timber: Quality affects timber values just as it does any other product. Know the volume for sale: Logging requires the use of heavy equipment and numbers of men and large costs associated with this.
Larger volumes for sale generally equate to higher stumpage prices because of the greater logging efficiency and reduced costs. Know distance from market: Transportation of forest products is expensive. Local mills should be able to pay higher prices for your products than more distant mills. Know size of trees: Generally, the larger trees bring the best prices.
Large sawlogs and poles are worth more than small ones. It is important to know as much about the trees you are selling as it is to know the value of the next house or car you sell. Attention to the above factors makes for a better sale. The more you know the better prepared for a sale you will be. First, you should identify prospective buyers. It would benefit you to prepare a comprehensive list of buyers for your area. Your IDNR district forester can provide a list of buyers. The consulting forester that you hire to assist in the sale can also provide a list of buyers and can act as an agent to solicit bids.
It may also be important to know what the buyer wants in terms of product. However, for the price of a postage stamp, you might simply send a bid invitation to all buyers within your determined procurement region.
Medium to large tracts of timber should be sold for a lump sum and on a bid basis. A sealed bid system should be used and generally results in higher selling prices as opposed to other sales methods.
A tour or "show-me" meeting on the timber sale allows all interested buyers to check the volume and quality of the timber and to estimate their logging costs.
They should also be allowed to inspect and keep a copy of the contract or agreement you attach to the sale. After the sale has been shown and all bids have been received, you should notify the highest acceptable bidder and arrange to negotiate and execute a written contract. Any deposit or performance bond agreed upon should be collected.
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