Used Equipment Auction Values Strengthen Over Last Month, Signaling Positive Shift in Markets

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Mar 05, 2025, 15:05 ET

LINCOLN, Neb., March 5, 2025 /PRNewswire/ -- As inventory levels fall across several U.S. equipment, truck, and trailer markets, the newest Sandhills Global market reports show values transitioning from downward trends to positive gains. Several markets are getting closer to closing the gap. The market reports, which cover specific categories of assets in Sandhills' U.S. markets, also underscore improvements in auction prices.

•Auction values decreased 0.13% M/M and 6.27% YOY in February.
•The EVI spread, which measures the percentage difference between asking and auction values, stayed at 38%, slightly lower than the peak values observed in 2015. — •Auction values decreased 0.13% M/M and 6.27% YOY in February. •The EVI spread, which measures the percentage difference between asking and auction values, stayed at 38%, slightly lower than the peak values observed in 2015.

•U.S. used combine harvester inventory was up 1.61% M/M and down 5.82% YOY in February and is maintaining a steady trend.
•Although asking prices were down 0.3% M/M and 0.44% YOY in February, those changes were not substantial enough to alter an upward trend in used combine asking values. — •U.S. used combine harvester inventory was up 1.61% M/M and down 5.82% YOY in February and is maintaining a steady trend. •Although asking prices were down 0.3% M/M and 0.44% YOY in February, those changes were not substantial enough to alter an upward trend in used combine asking values.

•U.S. used sprayer inventory levels ticked downward by 2.56% M/M in February but were up 2.63% over year-ago levels and are maintaining a steady trend.
•Asking values increased by 3.12% M/M, decreased by 2.65% YOY, and are trending down.
•Auction values increased by 2.56% M/M, decreased by 5.44% YOY, and are trending up. — •U.S. used sprayer inventory levels ticked downward by 2.56% M/M in February but were up 2.63% over year-ago levels and are maintaining a steady trend. •Asking values increased by 3.12% M/M, decreased by 2.65% YOY, and are trending down. •Auction values increased by 2.56% M/M, decreased by 5.44% YOY, and are trending up.

•Continuing a downward inventory trend, the U.S. used planter market exhibited 5.55% M/M and 8.63% YOY inventory level decreases in February.
•Asking values were up 0.94% M/M; although values were 3.67% lower than year-ago levels, they are trending upward. — •Continuing a downward inventory trend, the U.S. used planter market exhibited 5.55% M/M and 8.63% YOY inventory level decreases in February. •Asking values were up 0.94% M/M; although values were 3.67% lower than year-ago levels, they are trending upward.

•Inventory levels in this market have been trending down for four months, with further decreases of 1.96% M/M and 24.1% YOY in February. The used less-than-40-hp tractor category is driving these changes, posting 2.62% M/M and 26.56% YOY drops.

Despite a 5.13% YOY increase in February, inventory levels in the U.S. used heavy-duty construction equipment market decreased by 1.52% M/M and continues trending downward. If monthly decreases continue, we may soon see YOY inventory levels dip back into negative figures. The largest M/M category decrease occurred among used crawler dozers, down 1.97%, while used wheel loaders led other categories in YOY inventory increases, up 16.79%.

Inventory levels in the used medium-duty construction equipment market, which includes skid steers, loader backhoes, and mini excavators, decreased by 0.15% M/M in February but rose 8% YOY. The used mini excavator (up to 12,000 pounds) category posted the largest M/M inventory decrease at 2.39%, while the used track and wheel skid steer categories tied for the largest YOY inventory increase at 12.51%.

•Used U.S. lift inventory levels were up 1.87% M/M and 16.72% YOY in February, elevated by the cushion tire forklift category, up 7.14% M/M, and the used rough terrain scissor lift category, up 35.44% YOY.
•Asking values fell 1.02% M/M and 8.12% YOY but maintained a steady trend. The used telescopic boom lift category led in M/M asking value decreases at 4.76%, while used slab scissor lifts led in YOY decreases at 13.1%. — •Used U.S. lift inventory levels were up 1.87% M/M and 16.72% YOY in February, elevated by the cushion tire forklift category, up 7.14% M/M, and the used rough terrain scissor lift category, up 35.44% YOY. •Asking values fell 1.02% M/M and 8.12% YOY but maintained a steady trend. The used telescopic boom lift category led in M/M asking value decreases at 4.76%, while used slab scissor lifts led in YOY decreases at 13.1%.

Inventory levels in this market, which includes U.S. used day cab and sleeper trucks, have been trending downward for six months. This trend continued in February as the market posted decreases of 2.33% M/M and 21.84% YOY, led by the sleeper truck category, with drops of 4.64% M/M and 41.28% YOY.

•Sandhills’ U.S. used semitrailer market continued a downward inventory trend in February, with inventory levels up 3.49% M/M but down 9.2% YOY. The used dry van trailer category showed the largest M/M inventory increase at 5.52%, while the used reefer trailer category showed the most significant YOY inventory decrease at 24.89%.

U.S. used medium-duty truck inventory levels have not fallen as sharply as heavy-duty trucks over the past year, and the medium-duty market recently experienced inventory growth despite a sideways trend line. Inventory levels rose 5.84% M/M and 20.26% YOY in February. The categories driving the February changes were used flatbed trucks, up 13% M/M, and used reefer box trucks, up 99.47% YOY.

"February was a big month for the construction market," says AuctionTime Sales Manager Mitch Helman. "For example, we had some strong construction results among late-model, low-hours yellow iron units on AuctionTime. This bodes well for auction prices."

Regarding similar trends in the used truck and trailer markets, Truck Paper Manager Scott Lubischer says, "Values have stabilized over the past few months, and recent auction results indicate that market confidence is growing."

The key metric in all of Sandhills' market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in the Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions. The Sandhills EVI data include equipment available in auction and retail markets and model-year equipment actively in use. EVI spread measures the percentage difference between asking and auction values.

Additional Market Report Takeaways

Sandhills market reports highlight the most significant changes in Sandhills' used heavy-duty truck, semitrailer, farm machinery, and construction equipment markets. Key points from the current reports are listed below. Full reports are available upon request.

U.S. Used Tractors 100 Horsepower and Greater

Inventory levels in this market remained steady in February with a 0.83% M/M increase and a 6.09% YOY increase. The used 100- to 174-horsepower tractor category posted the largest M/M inventory change with a 2.36% increase, while used high-hp tractors (300 hp and greater) led in YOY inventory increases with a 12.65% gain over 2024. A closer examination of the used high-hp tractor market shows inventory levels followed an upward trend from September 2022 through February 2024; since April 2024, M/M changes have not exceeded 2%, while YOY changes have pursued a steep downward trend. For perspective, inventory levels in the used high-hp tractor category were up 60.02% YOY in February 2024 and 6.09% YOY in February 2025.
Asking and auction values both maintained a steady trend as well. Asking values dipped slightly M/M, by 0.11%, and fell 4.6% YOY. Used 175- to 299-hp tractors led other categories in YOY asking value decreases with a 5.44% drop.
Auction values decreased 0.13% M/M and 6.27% YOY in February.
The EVI spread, which measures the percentage difference between asking and auction values, stayed at 38%, slightly lower than the peak values observed in 2015.

U.S. Used Combines

U.S. used combine harvester inventory was up 1.61% M/M and down 5.82% YOY in February and is maintaining a steady trend.
Although asking prices were down 0.3% M/M and 0.44% YOY in February, those changes were not substantial enough to alter an upward trend in used combine asking values.
Auction values, by contrast, rose 1.23% M/M and 1.1% YOY and are trending up.
The EVI spread for used combines fell from 48% in January to 46% in February, still close to peak values seen in 2015.

U.S. Used Sprayers

U.S. used sprayer inventory levels ticked downward by 2.56% M/M in February but were up 2.63% over year-ago levels and are maintaining a steady trend.
Asking values increased by 3.12% M/M, decreased by 2.65% YOY, and are trending down.
Auction values increased by 2.56% M/M, decreased by 5.44% YOY, and are trending up.
The EVI spread in this market stayed at 43%, the same level observed in January and slightly under the peak values seen in 2015.

U.S. Used Planters

Continuing a downward inventory trend, the U.S. used planter market exhibited 5.55% M/M and 8.63% YOY inventory level decreases in February.
Asking values were up 0.94% M/M; although values were 3.67% lower than year-ago levels, they are trending upward.
Auction values showed slight changes in February, up 0.82% M/M and down 1.14% YOY, and are trending upward.
The EVI spread in the U.S. used planter market fell 10 points from December to January, landing at 51%; this figure remained at 51% in February.

U.S. Used Compact and Utility Tractors

Inventory levels in this market have been trending down for four months, with further decreases of 1.96% M/M and 24.1% YOY in February. The used less-than-40-hp tractor category is driving these changes, posting 2.62% M/M and 26.56% YOY drops.
Asking values held steady M/M with a slight 0.13% increase but were 3.4% lower than year-ago levels. The used less-than-40-hp tractor category led the way in YOY decreases, declining 3.65%.
Auction values were also steady in February compared to January, up 1.77% M/M and down 2.89% YOY. Once again, used less-than-40-hp tractors led other categories with the largest M/M increase at 2.8% and the largest YOY decrease at 4.27%.

U.S. Used Heavy-Duty Construction Equipment

Despite a 5.13% YOY increase in February, inventory levels in the U.S. used heavy-duty construction equipment market decreased by 1.52% M/M and continues trending downward. If monthly decreases continue, we may soon see YOY inventory levels dip back into negative figures. The largest M/M category decrease occurred among used crawler dozers, down 1.97%, while used wheel loaders led other categories in YOY inventory increases, up 16.79%.
Asking and auction values continue to maintain a steady trend. Asking values increased by 2.1% M/M and decreased by 3.8% YOY in February. The used crawler dozer category showed the largest M/M asking value increase at 3.66%. Used crawler excavators posted the largest YOY decrease at 6.12%.
Auction values were up 2.92% M/M and down 3.51% YOY. Used crawler dozer auction values rose 4.98% M/M, more than other categories, while the used wheel loader category had the largest YOY auction value decrease at 6.81%.

U.S. Used Medium-Duty Construction Equipment

Inventory levels in the used medium-duty construction equipment market, which includes skid steers, loader backhoes, and mini excavators, decreased by 0.15% M/M in February but rose 8% YOY. The used mini excavator (up to 12,000 pounds) category posted the largest M/M inventory decrease at 2.39%, while the used track and wheel skid steer categories tied for the largest YOY inventory increase at 12.51%.
Asking values were up 0.07% M/M, led by used loader backhoes with a 1.22% M/M increase, and down 5.85% YOY, pushed lower by used compact track loaders with a 7.76% YOY drop. Asking values are on a steady trend in the overall market.
Auction values are trending sideways, with a 1.76% M/M increase and a 5.31% YOY decrease in February. Used loader backhoes led other categories here, too, in M/M auction value increases, up 4.28%, while the used compact track loader category led in YOY decreases with a 6.73% drop.

U.S. Used Lifts

Used U.S. lift inventory levels were up 1.87% M/M and 16.72% YOY in February, elevated by the cushion tire forklift category, up 7.14% M/M, and the used rough terrain scissor lift category, up 35.44% YOY.
Asking values fell 1.02% M/M and 8.12% YOY but maintained a steady trend. The used telescopic boom lift category led in M/M asking value decreases at 4.76%, while used slab scissor lifts led in YOY decreases at 13.1%.
Auction values also decreased, down 1.11% M/M and 6.4% YOY, but are trending sideways. The used telescopic boom lift category posted the largest M/M auction value decrease at 7.01%. The used cushion tire forklift category had the largest YOY auction value decrease at 12.6%.

U.S. Heavy-Duty Trucks

Inventory levels in this market, which includes U.S. used day cab and sleeper trucks, have been trending downward for six months. This trend continued in February as the market posted decreases of 2.33% M/M and 21.84% YOY, led by the sleeper truck category, with drops of 4.64% M/M and 41.28% YOY.
Asking values have also been trending downward for six months, with decreases of 0.31% M/M and 6.52% YOY in February. Used day cab trucks led other categories in YOY asking value decreases with an 8.77% drop.
Auction values held steady in February, down slightly M/M, by 0.89%, and down 6.17% over year-ago levels. The day cab truck category posted the largest decreases, down 1.83% M/M and 9.94% YOY.

U.S. Used Semitrailers

Sandhills' U.S. used semitrailer market continued a downward inventory trend in February, with inventory levels up 3.49% M/M but down 9.2% YOY. The used dry van trailer category showed the largest M/M inventory increase at 5.52%, while the used reefer trailer category showed the most significant YOY inventory decrease at 24.89%.
Asking values increased 1.74% M/M but decreased 8.77% YOY and are trending steady. Used dry van trailers increased more than other categories M/M, up 2.81%, while used reefer trailers led in YOY asking value decreases, down 12.27%.
Despite a minimal 0.9% M/M increase and a more substantial 5.38% YOY decrease in February, auction values are trending upward. The largest M/M auction value increase was observed in the used flatbed trailer category, up 3.86%. Used reefer trailers led other categories in YOY auction value decreases, down 13.23%.

U.S. Used Medium-Duty Trucks

U.S. used medium-duty truck inventory levels have not fallen as sharply as heavy-duty trucks over the past year, and the medium-duty market recently experienced inventory growth despite a sideways trend line. Inventory levels rose 5.84% M/M and 20.26% YOY in February. The categories driving the February changes were used flatbed trucks, up 13% M/M, and used reefer box trucks, up 99.47% YOY.
Asking values showed modest changes, up 1.65% M/M and down 1.61% YOY, and are following a downward trend. Used reefer box trucks led other categories in M/M asking value increases, up 8.29%, whereas used dry cargo delivery box trucks led in YOY decreases, down 6.13%.
Similarly, auction values rose 1.77% M/M but fell 2.19% YOY and are trending downward. The same categories also pushed changes here; used reefer box truck auction values were up 6.09% M/M, while used dry cargo delivery box truck auction values decreased 8.55% YOY.

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About the Sandhills Equipment Value Index
The Sandhills Equipment Value Index (EVI) is a principal gauge of the estimated market values of used assets—both currently and over time—across the construction, agricultural, and commercial trucking industries represented by Sandhills Global marketplaces, including AuctionTime.com, TractorHouse.com, MachineryTrader.com, TruckPaper.com, and other industry-specific equipment platforms. Powered by Value Insight Portal (VIP), Sandhills' proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry.

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