Machinery Pete: Skid steer values falling?
Are used skid steer values falling?
I got to thinking about this question in early October. I was on a road trip out in Oregon and got visiting with a home builder from the Los Angeles area. Not wanting to sound too pessimistic, I offered that business must have been crazy the last four or five years for him.
He didn't want to talk about the past.
"It's not good right now," was his response.
I don't suppose it very good right now for builders and contractors as businesses and individuals in the broader economy look to reign in spending. I'm sure lots of projects being put on hold or cancelled.
So what does this have to do with used farm equipment values? Well, if contractors across the country are stressed, do you suppose we may begin to see a rise in the number of used skid steer loaders for sale? Makes sense to me.
In our Web site, we've got nearly 3,800 auction sale prices on skid steers sold at auctions around the country over the last few years. Most of these skid steers were sold on farm auctions, but I am now beginning to see more skid steers appear for sale on large dealer, consignment or municipal auctions. Just this past Tuesday (October 28), there was a large dealer auction in northeast Iowa where around 20 skid steers were sold.
The nice used skid steers selling on farm auctions have been selling well. The growing number of used skid steers selling on the larger auctions? Check out our auction sale price below and see for yourself. I have included auction price data from 2007-2008 on the listed manufacturers.
The supply and demand seesaw could be tipping. More used skid steers for sale plus fewer buyers could equal falling prices. If you have been thinking of buying a new or used skid steer, now could be a great time. Whether you're looking to buy, sell or trade, make sure you brush up on current values first.
But don't forget...used values change, sometimes up, sometimes down. What will 2009 hold for used skid steer values? Stay tuned.