Auction prices have been amazing in the last year — especially in the last six months. Check out the equipment category record-high auction prices just since November 2022:
Why Are Machinery Prices So High?
While these record-high prices are historic in their own right, what’s really amazing is the sheer rising tide of elevated sale prices.
Of course, the driving force behind the aggressively rising auction prices across all equipment categories has been a lack of supply for both new and used equipment. The limited allotment of new equipment is mostly pre-sold out far in advance.
As a result, buyers head back into the used market. But they are finding the tightest level of used equipment on dealer lots ever.
The other huge factor continues to be ever-rising price of new equipment. The supply chain mess forced what we thought were aggressive price hikes on new iron in the past to ratchet up another three or four notches.
I’ve said it before and back it up with three decades of data: The ever-rising price of new pulls up on the value of good used.
Machinery Pete is the most trusted name in farm equipment. Visit MachineryPete.com for free auction sale price data.
