Used Equipment Values Improved in Year-End Auctions While Late-Model Units Continue to Depreciate

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Jan 07, 2025, 16:26 ET

LINCOLN, Neb., Jan. 7, 2025 /PRNewswire/ -- According to the newest Sandhills Global market reports, auction values for used equipment, trucks, and trailers in Sandhills' U.S. marketplaces were up overall in December auctions, reflecting a typical end-of-year trend. Auction values for late-model assets, however, continue to depreciate dramatically. For example, 2021 and 2022 model year combine harvesters were 21% to 25% lower in December compared to year-ago values.

Inventory levels in this market have been trending upward for six months despite a slight 1.46% M/M decrease in December. Inventory was up 19.5% year over year. The used 175- to 299-horsepower tractor category showed the largest M/M inventory decrease at 2.21%, while the used high-hp (300-hp and greater) tractor category led the way in YOY inventory increases at 29%.

Auction values are also trending sideways, with a 4.6% M/M increase and 9.16% YOY decrease in December.
The EVI spread for this market fell for the third month in a row, measuring 47% in December, close to peak values observed in 2015. — Auction values are also trending sideways, with a 4.6% M/M increase and 9.16% YOY decrease in December. The EVI spread for this market fell for the third month in a row, measuring 47% in December, close to peak values observed in 2015.

Auction values posted more dramatic values in both directions, up 4.59% M/M and down 17.88% YOY.
The EVI spread for used sprayers in Sandhills’ U.S. marketplaces fell to 45% in December, dipping below peak values from 2015. — Auction values posted more dramatic values in both directions, up 4.59% M/M and down 17.88% YOY. The EVI spread for used sprayers in Sandhills’ U.S. marketplaces fell to 45% in December, dipping below peak values from 2015.

Auction values showed a slight 0.37% M/M decrease and a more significant 17.3% YOY drop. Still, auction values are on a steady trend.
The EVI spread for this market fell to 61% in December, a relatively high value but lower than the historically high values set in 2015. — Auction values showed a slight 0.37% M/M decrease and a more significant 17.3% YOY drop. Still, auction values are on a steady trend. The EVI spread for this market fell to 61% in December, a relatively high value but lower than the historically high values set in 2015.

Inventory levels in this market have been trending down for eight consecutive months, posting decreases of 1.28% M/M and 25.17% YOY in December. The used 40- to 99-hp tractor category led other categories in M/M decreases, down 1.73%, while used less-than-40-hp tractors led in YOY decreases, down 30.34%.

Inventory levels in Sandhills’ U.S. marketplaces for used heavy-duty construction equipment, which include crawler excavators, dozers, and wheel loaders, dropped 1.77% M/M and rose 17.63% YOY in December. Used wheel loaders pushed both of these figures more than other categories, with inventory down 3.58% M/M and up 31.81% YOY.

Inventory levels in this market have maintained a steady course in recent months. This continued in December, with inventory down 0.75% M/M. Still, inventory was 18.75% higher than year-ago levels. The used wheel skid steer category had the most significant impact on these figures, with a 2.75% M/M decrease and a 24.76% YOY increase.

Inventory levels in Sandhills’ U.S. used lift marketplaces continued a nearly year-long upward trend despite a 0.99% M/M decrease in December. Inventory was up 19.65% over year-ago levels. The used rough terrain scissor lift category drove these changes, with a 3.12% M/M decrease and a significant 42.76% YOY increase.

Asking values decreased 0.49% M/M and 10.64% YOY in December and are trending down. Used sleeper trucks showed the largest M/M decrease per category at 1.42%, while used day cabs decreased most sharply YOY at 10.96%.
Auction values in this market have decreased more rapidly than asking values, dropping 2.58% M/M and 18.51% YOY. The categories making the most substantial impacts in the overall market were used sleeper trucks, down 3.62% M/M, and used day cabs, which decreased 20.25% YOY. — Asking values decreased 0.49% M/M and 10.64% YOY in December and are trending down. Used sleeper trucks showed the largest M/M decrease per category at 1.42%, while used day cabs decreased most sharply YOY at 10.96%. Auction values in this market have decreased more rapidly than asking values, dropping 2.58% M/M and 18.51% YOY. The categories making the most substantial impacts in the overall market were used sleeper trucks, down 3.62% M/M, and used day cabs, which decreased 20.25% YOY.

Inventory levels of used semitrailers in Sandhills’ U.S. marketplaces decreased by 5.39% M/M and 0.36% YOY. Inventory has been trending downward for some time, led in December by used flatbed semitrailers, down 13.67% M/M, and used reefer semitrailers, down 18.79% YOY.
Asking values decreased by 0.75% M/M and 16.46% YOY, continuing a 28-month-long downward trend. The used reefer semitrailer category was responsible for both the largest M/M decrease at 1.89% and the largest YOY decrease at 24 — Inventory levels of used semitrailers in Sandhills’ U.S. marketplaces decreased by 5.39% M/M and 0.36% YOY. Inventory has been trending downward for some time, led in December by used flatbed semitrailers, down 13.67% M/M, and used reefer semitrailers, down 18.79% YOY. Asking values decreased by 0.75% M/M and 16.46% YOY, continuing a 28-month-long downward trend. The used reefer semitrailer category was responsible for both the largest M/M decrease at 1.89% and the largest YOY decrease at 24

Inventory levels of used medium-duty trucks in Sandhills’ U.S. marketplaces, including box trucks, flatbed trucks, and cab and chassis trucks, have been trending upward. This market showed inventory increases of 3.92% M/M and 17.89% YOY in December, with used flatbed trucks posting the largest M/M increase at 11.61%.

Assessing concerns regarding the used agricultural equipment market specifically, TractorHouse Manager Ryan Dolezal says, "We don't believe the farm equipment market has bottomed out. Several variables, such as tariffs, trade wars, and commodity prices, remain to play out. Sellers should remain vigilant about these variables and their possible effects and update prices accordingly. Prices that were reasonable six months ago may no longer be competitive."

Looking at the commercial truck market, Truck Paper Manager Scott Lubischer says, "Heavy-duty truck inventory trends are continuing to diverge, with day cabs remaining steady while sleeper truck inventory declines. However, day cabs and sleepers are following similar downward value trends, with auction values and asking prices dropping."

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 have been trending upward for six months despite a slight 1.46% M/M decrease in December. Inventory was up 19.5% year over year. The used 175- to 299-horsepower tractor category showed the largest M/M inventory decrease at 2.21%, while the used high-hp (300-hp and greater) tractor category led the way in YOY inventory increases at 29%.
Asking values decreased 1.5% M/M and 8.05% YOY in December, continuing an 8-month-long downward trend. Used 175- to 299-hp tractor asking values declined more than other categories, posting 1.76% M/M and 10.38 YOY decreases.
Auction values in this market have been steady, with a 1.36% M/M increase and a 13.48% YOY decrease in December. Used high-hp tractor auction values rose 2.55% M/M, more than other categories. Used 175- to 299-hp tractors showed the largest YOY decrease with a 15.12% drop.
EVI spread, a percentage difference between asking and auction values, fell to 40% in December for used tractors. That's close to peak values last seen in 2015.

U.S. Used Combines

Inventory levels of used combine harvesters in Sandhills' U.S. marketplaces were up 3.19% M/M and trending sideways in December but were 2.76% lower than year-ago levels.
Asking values increased 2.09% M/M, maintaining a steady trend, but were 3.73% lower YOY.
Auction values are also trending sideways, with a 4.6% M/M increase and 9.16% YOY decrease in December.
The EVI spread for this market fell for the third month in a row, measuring 47% in December, close to peak values observed in 2015.

U.S. Used Sprayers

Despite a 1.7% M/M decrease in December, inventory levels in this market are on an upward trend that started five months earlier. Inventory levels were up 19.48% YOY.
Asking values ticked up 0.37% M/M but fell 9.87% YOY.
Auction values posted more dramatic values in both directions, up 4.59% M/M and down 17.88% YOY.
The EVI spread for used sprayers in Sandhills' U.S. marketplaces fell to 45% in December, dipping below peak values from 2015.

U.S. Used Planters

Inventory levels in this market are trending sideways despite decreases of 3.84% M/M and 5.26% YOY in December.
Asking values dipped 1.55% lower M/M and 8.88% YOY and are trending down.
Auction values showed a slight 0.37% M/M decrease and a more significant 17.3% YOY drop. Still, auction values are on a steady trend.
The EVI spread for this market fell to 61% in December, a relatively high value but lower than the historically high values set in 2015.

U.S. Used Compact and Utility Tractors

Inventory levels in this market have been trending down for eight consecutive months, posting decreases of 1.28% M/M and 25.17% YOY in December. The used 40- to 99-hp tractor category led other categories in M/M decreases, down 1.73%, while used less-than-40-hp tractors led in YOY decreases, down 30.34%.
Adding to a year-long downward trend, asking values fell by 1.43% M/M and 6.83% YOY in December. Used less-than-40-hp tractors drove these changes, with asking values in this category dropping 1.64% M/M and 7.83% YOY.
Used less-than-40-hp tractors also had the most significant auction value drops in December compared to other categories, decreasing 2.07% M/M and 10.23% YOY. In the overall market, auction values have decreased more rapidly than asking values and were down 1.9% M/M and 8.71% YOY.

U.S. Used Heavy-Duty Construction Equipment

Inventory levels in Sandhills' U.S. marketplaces for used heavy-duty construction equipment, which include crawler excavators, dozers, and wheel loaders, dropped 1.77% M/M and rose 17.63% YOY in December. Used wheel loaders pushed both of these figures more than other categories, with inventory down 3.58% M/M and up 31.81% YOY.
Asking values in this market decreased by 1.6% M/M and 6.55% YOY. Used crawler excavators led other categories in asking value declines, down 2.91% M/M and 9.29% YOY.
Auction values decreased by 1.68% M/M and 9.26% YOY in December. The used wheel loader category showed the largest drops, down 3.23% M/M and 12.07% YOY.

U.S. Used Medium-Duty Construction Equipment

Inventory levels in this market have maintained a steady course in recent months. This continued in December, with inventory down 0.75% M/M. Still, inventory was 18.75% higher than year-ago levels. The used wheel skid steer category had the most significant impact on these figures, with a 2.75% M/M decrease and a 24.76% YOY increase.
Asking values were down 0.64% M/M and 5.65% YOY, continuing a 9-month-long downward trend. Sandhills observed the largest category decreases in the used track skid steer category, down 1.85% M/M, and the used wheel skid steer category, down 7.86% YOY.
Auction values have also been trending downward for nine months, showing decreases of 0.16% M/M and 6.75% YOY in December. Skid steers figured prominently in auction value changes as well. Used track skid steer auction values decreased 1.97% M/M, while used wheel skid steer auction values were down 9.27% YOY.

U.S. Used Lifts

Inventory levels in Sandhills' U.S. used lift marketplaces continued a nearly year-long upward trend despite a 0.99% M/M decrease in December. Inventory was up 19.65% over year-ago levels. The used rough terrain scissor lift category drove these changes, with a 3.12% M/M decrease and a significant 42.76% YOY increase.
Asking values declined by 0.82% M/M and 11.65% YOY in December, continuing a downward trend. Sandhills noted the greatest category changes among used slab scissor lifts, down 6.94% M/M, and used telehandlers, down 13.86% YOY.
Auction values have also been trending downward, with decreases of 1.21% M/M and 14.96% YOY. The used cushion tire forklift category exhibited the largest M/M auction value decrease at 11.11%, while the telescopic boom lift category showed the largest YOY decrease at 18.65%.

U.S. Heavy-Duty Trucks

A downward inventory trend continued in this market in December, with inventory ticking down 0.87% M/M and dropping 7.19% YOY. Used day cab inventory levels rose 30.13% YOY, diverging sharply from used sleeper truck inventory levels, which dropped 29.82% YOY.
Asking values decreased 0.49% M/M and 10.64% YOY in December and are trending down. Used sleeper trucks showed the largest M/M decrease per category at 1.42%, while used day cabs decreased most sharply YOY at 10.96%.
Auction values in this market have decreased more rapidly than asking values, dropping 2.58% M/M and 18.51% YOY. The categories making the most substantial impacts in the overall market were used sleeper trucks, down 3.62% M/M, and used day cabs, which decreased 20.25% YOY.

U.S. Used Semitrailers

Inventory levels of used semitrailers in Sandhills' U.S. marketplaces decreased by 5.39% M/M and 0.36% YOY. Inventory has been trending downward for some time, led in December by used flatbed semitrailers, down 13.67% M/M, and used reefer semitrailers, down 18.79% YOY.
Asking values decreased by 0.75% M/M and 16.46% YOY, continuing a 28-month-long downward trend. The used reefer semitrailer category was responsible for both the largest M/M decrease at 1.89% and the largest YOY decrease at 24.74%.
Used reefer semitrailers also led other categories in auction value declines, down 1.78% M/M and 28.94% YOY. In the overall market, auction values have been trending downward for 30 months, with decreases of 1.58% M/M and 15.98% YOY in December.

U.S. Used Medium-Duty Trucks

Inventory levels of used medium-duty trucks in Sandhills' U.S. marketplaces, including box trucks, flatbed trucks, and cab and chassis trucks, have been trending upward. This market showed inventory increases of 3.92% M/M and 17.89% YOY in December, with used flatbed trucks posting the largest M/M increase at 11.61%.
Asking and auction values in this market have been trending down for 24 months. The trend continued in December, with asking values down 1.56% M/M and 12.13% YOY. The most substantial changes occurred in the used reefer box truck category, down 5.66% M/M, and the used cab and chassis truck category, down 21.43% YOY.
Auction values decreased by 2.77% M/M, led by a 6.98% M/M decrease in the used reefer box truck category. Auction values were 23.55% lower than year-ago levels, led by used dry cargo delivery box trucks with a 30.61% YOY drop.

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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 FleetEvaluator, 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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