Used Equipment Values Drop on Resale, Auction Markets

EquipmentWatch’s June Market Report states that the average full market value for used construction equipment is slowing down.

According to the report, construction equipment values continue to show gains year over year, although both resale and auction channels are showing signs of a slowdown in the month-to-month values, indicating a market slowdown as we enter the summer months.

FMV was down 0.7% in the resale market, marking a 0.15% decrease year to date. Values on the auction channel also continued their slowdown with a dip in value of 1.8% month over month and an overall decrease of 4% since the start of the year.

On the auction side, average values were down 1.8% from March 2023 but showed a much healthier gain year over year with values at 36.7% higher than April 2022 and 34.1% higher than April 2021. Stats show there has been an overall 4% decline since the start of the year.

Analysis suggests that construction firms and equipment fleet owners appear to be holding onto and using their aging equipment. 

Data collected by EquipmentWatch was in line with another recent industry survey in which more than half of the respondents indicated they were increasing their maintenance budgets to keep current fleets working due to difficulty buying new equipment.

EquipmentWatchAmong resale and auction channels, some of the top-selling types of equipment were crawler excavators, compact track loaders, articulated wheel loaders, compact excavators, and skid steer loaders.