New market data from Sandhills Global shows what many auctioneers have already experienced in 2021: equipment auctions are bringing tremendous returns. Year-over-year auction values in the used heavy-duty commercial truck industry were up 22.86%, and the used construction equipment industry saw similar growth with a 12.34% YOY value increase in the auction market. Sandhills monitors these industries—and many more—with its Equipment Value Index (EVI) to analyze deeper trends in the ever-changing equipment values across Sandhills marketplaces, including AuctionTime.com, TractorHouse.com, MachineryTrader.com, TruckPaper.com, and other industry-specific equipment platforms that connect buyers and sellers all over the world.
“Surging” is the best way to describe auction values a few months into 2021. Looking beyond the overall YOY fluctuations, Sandhills EVI and market reports also illustrate the main drivers of change within particular industries.
U.S. Used Heavy-Duty Trucks
The 22.9% YOY auction value increase in the used heavy-duty truck market is underscored by an average auction value of $31,781 for sleeper and day cabs.
Sleeper trucks are the primary driver of the rising auction values, according to Sandhills EVI, with a YOY increase of 33.5%. Average auctions values for sleeper trucks were $36,000—up from $27,000 in February 2020.
U.S. Used Construction Equipment
Rising auction values for loaders (up 10.9%) and backhoes (up 9.5%) were the major equipment categories driving auction values in the used heavy-duty construction market, which were up 12.34% YOY.
Asking values for dozers also surpassed historic values, showing market strength in both auction and retail markets.
U.S. Used Agriculture Equipment
In the ag industry, tractors greater than 100 horsepower and combines continue to trend well above historic values, exceeding the peaks of 2014.
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About Sandhills Global
Sandhills Global is an information processing company headquartered in Lincoln, Nebraska. Our products and services gather, process, and distribute information in the form of trade publications, websites, and online services that connect buyers and sellers across the construction, agriculture, forestry, oil and gas, heavy equipment, commercial trucking, and aviation industries. Our integrated, industry-specific approach to hosted technologies and services offers solutions that help businesses large and small operate efficiently and grow securely, cost-effectively, and successfully. Sandhills Global—we are the cloud.
About the 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. Powered by FleetEvaluator, Sandhills’ proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry.
By PR Newswire