Demand has been rising in 2017 on good used skid steers. I’m not only seeing this on the auction market, but also at MachineryPete.com. More than 3,600 used skid steers are listed across the U.S. for sale by farm equipment dealers.
How hot has buyer demand been? In September 2017, search traffic for skid steers at MachineryPete.com rose 67% versus September 2016. That’s an awfully big spike there.
And I have been seeing strong prices paid for good-condition used skid steers at auctions throughout this year, as well. See the data table.
Helpful Tools. As you’re seeking more information on skid steers and other equipment, check out the cool search functionality the programmers at our Machinery Pete office have added to the website. One tool I really like is the new Open Search box, which allows you to enter specific features you’re looking for such as duals, PTO, ILS and tracks.
Another new search tool I enjoy is being to separate auction sale prices by type of auction. Did it sell at a farm auction, consignment auction, dealer auction or online? It’s important and telling to know this fact. Of course, in most cases, auction sale prices tend to run higher on farm auctions, whether they are retirement sales or estate auctions. This is understandable, as we all know sales prices tend to run higher at local sales where the seller is very well thought of, liked and respected.
Price Analysis. Our data shows this trend is a bit less pronounced on skid steers. For example, through September, nine of the 10 highest auction sale prices on skid steers came at consignment or online auctions. The construction-business influence is at play here, I think. This segment of the auction business is more comfortable buying used heavy equipment via the wholesale auction route.
The highest skid steer auction sale price so far in 2017 happened July 27 at a consignment auction in east-central Alberta, Canada, when a 2012 Bobcat T870 with 492 hours sold for $57,571 (U.S.). The highest farm-auction price on a skid steer took place March 16 in east-central Nebraska when a 2013 John Deere 333E with 670 hours went for $48,500.
Another strong sale was the 2012 John Deere 329D skid steer with just 209 hours that sold for $46,000 on Feb. 25 at a farm auction in northeast Kansas. We filmed that auction for our “Machinery Pete TV” show. (It airs at 12:30 p.m. CDT Saturdays on RFD-TV and re-airs at 4 p.m. Tuesdays.) Buyer interest was palpable and was helped, I think, by the geography of the sale in northeast Kansas, just outside of the Kansas City metro area.
Demand Factors. Folks with hobby farms on the edge of metro areas such as Kansas City or Minneapolis might be in the market for a used skid steer. With steady jobs in the city and rising 401(k) balances, they’ve also got more disposable income.
Another factor behind rising demand has been the recent bounceback seen in the construction business. We’re farther and farther away from the Great Recession. Home-building and retail-building have taken off, and they need equipment.
Add it all up and you can see why we’ve had a dramatic spike in search traffic for skid steers. TP
Greg Peterson is the most trusted name in farm equipment. Since 1989, he has compiled more than 500,000 auction prices, which he updates on his website, MachineryPete.com. Read his blog at AgWeb.com/machinerypete and subscribe to his YouTube channel at youtube.com/machinerypete.
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