Q4 2023 Equipment Market Update - Construction Equipment Values drop by 5% in Q3.
Winter is a time with snow-covered trees, the stock market dips; and the equipment market continues to slows too.
Construction equipment FMV dropped by 5% from September to October 2023, hitting $101,194.60, marking the sharpest monthly decline in two years. Fleet managers looking to unload unused or underperforming equipment are driving down liquidation values as well.
Fair Market Values for Lift/Access equipment have held steady this fall but are showing significant gains of close to 25% year over year, with industry experts foresee a possible softening trend in the coming year.
FMV for agriculture equipment maintained stability, reaching an average of $45,304.13 in October 2023, reflecting a 4% increase. Auction prices have shown a slight 1% decrease compared to the previous month, signalling potential market steadiness amidst uncertainty.
Source: EquipmenWatch by Randall Reilly (full report here)
Malahat Valuation Group specializes in business valuation and real estate appraisals to owners of privately owned companies and their professional advisors. When owners need to leverage, sell or reorganize their assets, we answer the age-old question "What is it worth?".
We provide our clients and their advisors peace of mind by preparing professional valuations that stand up to scrutiny from lenders, the Courts and Canada Revenue Agency.
Malahat Valuation Group Inc.