“We’ve observed auction values make a significant move downwards in high-horsepower tractors this year,” says TractorHouse Manager Ryan Dolezal. “But keep an eye on late-model self-propelled sprayers, too. Auction values on these units are rapidly decreasing as year-end approaches.”

The new market reports also cover Sandhills’ used transportation and construction equipment marketplaces. In the used heavy-duty truck market, day cab and sleeper truck inventory levels are comparable, which is a historic first, while asking and auction values continue trending down. “Heavy-duty truck values continue trending downward, although inventory levels remain virtually the same,” says Truck Paper manager Scott Lubischer. “Market volatility due to the current freight market continues to apply negative pressure on price.”

In the used heavy-duty and medium-duty construction equipment markets, upward inventory trends persist, adding pressure to asking and auction prices. “Equipment inventory levels continue trending up overall,” says Director of North American Construction Stephanie Olberding. “Asking and auction prices are trending down in the overall market, but medium-duty equipment values are falling faster.”

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 climbing for several months. In September, inventory increased by 1.35% M/M and 34% YOY. High-horsepower (300 HP and greater) tractors constitute the leading growth category, with inventory 56.11% higher than year-ago levels and 32.23% higher than in September 2019 (pre-COVID).
• Asking values decreased slightly M/M at 0.67% following months of decreases. Asking values were down 3.29% YOY.
• Auction values in this market have decreased more rapidly than asking values, creating a noteworthy gap. This EVI spread, which measures the percentage difference between asking and auction values, reached 48% in September, exceeding historic highs set in 2015. Auction values were down 1.39% M/M and 14.32% YOY and are trending downward. The used 175-to-299-HP tractor category showed the steepest YOY auction value decrease with a 15.56% drop; the used high-HP tractor category was next in line with a 15.3% YOY drop.

U.S. Used Combines

• Inventory levels of used combine harvesters decreased 2.14% M/M in September and are trending down, but were 8.53% higher than last year.
• Following months of decreases, asking values were down 2.67% M/M in September but were up slightly, by 0.77%, YOY.
• Similarly, auction values have decreased over several months and were down by 2.15% M/M and 6.74% YOY in September. EVI spread in this market fell, but at 56%, it still far exceeds historical values.

U.S. Used Self-Propelled Sprayers

• Inventory levels of used sprayers have been rising for months. This continued in September, as the market posted gains of 6.23% M/M and 36.99% YOY.
• Asking values increased 2.04% M/M, decreased 3.45% YOY, and are trending sideways.
• Auction values, on the other hand, decreased by 4.6% M/M, continuing a trend of consecutive monthly declines, and were 21.12% lower YOY. EVI spread continues to exceed historical values, jumping to 62% in September.

U.S. Used Planters

• Inventory levels in Sandhills’ U.S. used planting equipment market are still trending upward. Inventory was up 1.09% M/M and 5.4% YOY.
• Asking values decreased by 2.69% M/M and 9% YOY and are trending downward.
• Auction values also decreased, by 1.68% M/M and 23.24% YOY, but are trending sideways. The EVI spread for used planters has dropped in recent months, resting at 66% in September, which is lower than the 72% high observed in 2015.

U.S. Used Compact and Utility Tractors

• Inventory and values are trending downward in Sandhills’ U.S. used compact and utility tractor market. Inventory levels rose slightly, at 0.54%, M/M in September, but were 11.52% lower YOY. Inventory levels in the less-than-40-HP tractor category were down 15.68% YOY.
• Asking values decreased by 0.94% M/M and 4.37% YOY.
• Auction values decreased by 1.17% M/M and 6.01% YOY.

U.S. Heavy-Duty Trucks

• Inventory levels of used heavy-duty trucks in Sandhills’ U.S. marketplaces dropped 2.71% M/M and 5.85% YOY in September and are trending downward. Sleeper truck inventory typically exceeds day cab inventory, but in a historic first, sleeper truck inventory has dropped to roughly match that of day cabs.
• Continuing months of decreases, asking values decreased by 0.74% M/M and 17.29% YOY.
• Auction values also fell, by 3.51% M/M and 20.39% YOY, and are trending downward.

U.S. Used Semitrailers

• Inventory levels in Sandhills’ used semitrailer marketplaces decreased by 2.82% M/M in September but are trending upward, posting a 22.79% YOY increase. In the overall market, inventory is now reaching pre-COVID levels. Looking at specific categories, used dry van trailer inventory levels decreased by 6.19% but were still up 37.94% compared to last year. Also, with a 33.25% YOY increase, used flatbed trailer inventory was significantly higher than last year.
• Asking values ticked up 1.01% M/M in September but are trending downward. Asking values were 16.23% lower YOY. The used reefer and dry van trailer categories fell the most YOY, posting decreases of 23.67% and 20.34%, respectively.
• Auction values dipped slightly lower by 0.07% M/M, marking consecutive months of declines. Auction values fell 16.65% YOY and are approaching pre-COVID levels. The used reefer and dry van trailer categories also posted the steepest auction value drops, falling 25.49% and 21.75%, respectively.

U.S. Used Medium-Duty Trucks

• In Sandhills’ U.S. used medium-duty truck market, values continue to follow downward trends while inventory levels remained steady in September. Inventory levels decreased by 2.69% M/M, increased by 2.94% YOY, and are trending sideways.
• Asking values followed months of decreases with additional drops of 0.3% M/M and 14.92% YOY in September.
• Auction values have also been falling for months. Auction values were down 2.3% M/M and 23.58% YOY in September, with used moving box trucks showing the sharpest monthly category decrease, down 10.07% M/M.

U.S. Used Heavy-Duty Construction Equipment

• Inventory levels have been rising for months in this market, which includes used crawler excavators, dozers, and wheel loaders in Sandhills’ U.S. marketplaces. Inventory levels were up 0.78% M/M and 21.54% YOY. However, no categories have reached pre-COVID levels yet.
• Asking values increased by 0.46% M/M but are trending downward and were 4.35% lower YOY.
• Auction values decreased by 0.6% M/M and 9.49% YOY, continuing months of declines. The used excavator and wheel loader categories posted YOY decreases slightly above 10%.

U.S. Used Medium-Duty Construction Equipment

• Inventory levels are trending upward in this market, which includes used skid steers, loader backhoes, and mini excavators in Sandhills’ U.S. marketplaces. Inventory was down 1.62% M/M but up 36.26% YOY in September. While all categories showed negligible M/M inventory decreases, track skid steers exhibited the strongest YOY increase at 43.28%, followed by wheel skid steers, up 42.62%.
• Asking and auction values have been falling for several months. Asking values were down 0.63% M/M and 6.23% YOY in September.
• Auction values decreased by 0.62% M/M and 9.59% YOY. The used skid steer and mini excavator categories each posted a roughly 10% YOY drop in auction values.

U.S. Used Lifts

• Inventory levels in this market increased by 5.6% M/M and 21.54% YOY following months of growth. The used rough terrain scissor lift category exhibited the most dramatic increases, up 12.9% M/M and 43.34% YOY, compared to other used lift equipment categories. Also noteworthy, inventory in the used telehandler category was 62.1% higher than year-ago levels.
• Asking values were up 1.17% M/M but down 8.15% YOY and are trending downward. In the used pneumatic-tire and cushion tire forklift categories, asking values were down 12.6% and 12.7% YOY, respectively.
• Auction values were up 1.14% M/M, down 12.62% YOY, and are trending sideways. Again, the used pneumatic-tire and cushion tire forklift categories showed the most significant YOY decreases, down 20.06% and 18.83%, respectively.

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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 through 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 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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