Machinery Pete: Data Reveals Demand

October 31, 2018 02:12 PM
 
Machinery Pete analysis can now include search traffic data.

I feel like a kid in a candy store. I’m a data and numbers guy at heart, and for 29 years I’ve compiled auction data on farm and construction equipment to help determine if used values are up, down or stable. But now I have a new toy to further clarify what’s actually happening with values. Machinery Pete analysis can now include search traffic data.

So let’s talk ATVs/UVs. Go to MachineryPete.com, and you’ll find about 2,500 ATVs/UVs listed for sale around the U.S. Search traffic trends in this category have been:

  • Up 17.9% in third quarter 2018 versus second quarter 2018.
  • Up 206.1% in third quarter 2018 compared with third quarter 2017.

Why has there been a big spike in buyer interest? No doubt it’s partly due to the expansion of this equipment category over the years as UVs have emerged to serve commercial and hobby farmers, recreational enthusiasts and construction businesses. Who has had extra spending money the past couple years? Think of the folks who live and work in the city but escape to their land on the weekends. Up goes the search traffic.

Another sure sign of the heat in the ATV/UV equipment category is the number of new players in the space. For example, at a recent farm show, I visited with the folks from Caterpillar who were introducing their five-seat UV to the market.

On the auction side of things, I’ve been seeing a huge spike in the number of ATVs/UVs sold per year. From 2000 through 2017, we compiled 6,423 auction prices on ATVs/UVs, which averages out to 357 per year. Through Oct. 4, 2018, 694 units have sold this year. For example:

  • At a Sept. 29, farm auction in west-central Illinois a 2015 Kubota RTV-X1100C 4WD diesel with 73.7 hours sold for $14,500, which is tied for the eighth-highest auction price so far this year in this category.
  • A 2014 John Deere 855C with 38 hours sold for $16,000 on May 5 at a north-central Texas auction.
  • The highest auction price so far this year is $23,000 for a Bobcat Toolcat 5600 with 943 hours, which sold at a July 28 consignment auction in central Nebraska.

If I were a betting man, I’d look for these trends to continue into 2019.

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