EquipmentWatch May 2023 Market Report
The EquipmentWatch May 2023 Market Report was just released. With values steady across almost all equipment types, but up significantly year over year, market conditions are favorable for sellers looking to recoup depreciation and for buyers looking to land a good value.
Notable updates include:
- Overall equipment values held steady month-over-month. While average FMV and FLV were up compared to previous years, price differentials were less than 2% compared to February 2023.
- Monthly auction activity levels are up due to a seasonal trend and year-over-year activity levels have increased following a 2022 downturn that seems to be correcting itself.
- Agriculture resale and auction activity decreased its hectic pace but still shows steady growth. The agriculture equipment market continued to rise albeit at a slower level, with 23.3% YoY growth and 3.3% YoY growth on the resale and auction channels respectively.
While the current trends point towards stability in values, equipment managers need to carefully evaluate when to buy and sell their equipment. These monthly reports are designed to help you track the market’s progress to make informed decisions about your next purchase or sale.