Q4 2023 Equipment Market Update - Construction Equipment Resale Values continue to slow.
Winter is a time with snow-covered trees, the stock market dips; and the equipment market continues to slows too.
Construction equipment FMV remained consistently strong, with values holding at an average of $105,498 in Q3 2023, showing a marginal decrease from the previous month.
Fair Market Values for Lift/Access equipment saw a notable uptick in September 2023, reaching an average of $34,584, but industry experts foresee a possible softening trend in the coming year.
FMV for agriculture equipment experienced a significant surge, reaching an average of $45,201 in September 2023, reflecting strong demand. Despite rising FMV, auction prices continue to remain high, with no immediate sign of alignment with FMV figures, leaving industry experts to wonder when supply will catch up with demand.
Source: EquipmenWatch by Randall Reilly (full report here)
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