Values & Market Data

MEGA AUCTION REPORT: Volume Increases in 2017 Florida Auctions

February auction analysis shows some positive and interesting trends from the equipment auction market which include Year over Year trend in volume, age and price for construction and lift equipment.
Values & Market Data

Data Analyst

February auction analysis shows some positive and interesting trends from the equipment auction market which include year over year trend in volume, age and price for construction and lift equipment.

During February 2017, EquipmentWatch tracked total auction sales of $224,614,568, representing 8,117 equipment transactions from 258 auctioneers. This includes heavy construction and agricultural equipment, lift and access equipment, and commercial trucks. This was a 14% increase in transactions over February 2016, as well as younger and newer equipment were brought into the market. In addition, Ritchie Brothers, the largest auctioneer in the annual Florida mega auction, also saw an increase of 9% in their gross auction process from last year and set a new site record on the total and online registered bidders and number of sellers. These are solid indicators that 2017 will be a great year for the equipment auction market.

Crawler mounted hydraulic excavators, wheel tractors and 4-wd articulated wheel loaders made up 44% of the total sales of the top 10 equipment types.

We tracked the top 10 heavy equipment types that were most commonly sold at auctions during February 2017. The most popular type was the crawler mounted hydraulic excavator, followed by wheel tractors and 4-wd articulated wheel loaders, which are the same top 3 equipment types from February 2016. Other popular equipment types were electric self-propelled scissor lifts, backhoe loaders, crawler mounted compact excavators, skid steer loaders, compact track loaders and standard crawler dozers, all of them typical of construction job sites.

This graph shows the year over year volume comparison from February 2016 to February 2017 for the five most commonly sold construction and lift equipment.

The overall volume for the most commonly sold construction and lift equipment had a slight increase of 5% despite 4-wd articulated wheel loaders and electric self-scissor lifts experiencing a decrease of 25% and 22%, respectively. The most significant change was observed on telescoping boom rough terrain lift trucks which had a 71% increase. Crawler mounted hydraulic excavator and backhoe loaders had a much smaller increase of around 5%, reflective of the overall volume increase.

This graph shows year over year age comparison from February 2016 to February 2017 for the five most commonly sold construction and lift equipment.

The average age of the five most commonly sold construction and lift equipment declined by 2.5 years, which means that younger and newer equipment were brought into the auctions this year compared to February 2016. Younger age on equipment is generally a good sign for the market as they can attract more buyers as well as make sales easier for sellers. All of the equipment types had a decline in average age with the highest decline was on crawler mounted hydraulic excavators at 15%, followed by electric self-propelled scissor lifts at 12%, telescopic boom rough terrain lift trucks at 8% and backhoe loaders at 6%. Meanwhile, the average age of 4-wd articulated wheel loaders had only a 0.06% decline, essentially the same as last year.

This graph shows year over year price comparison from February 2016 and February 2017 for five most commonly sold construction and lift equipment.

An interesting trend on year over year price comparison showed that all three earthmoving construction equipment types had a decline in average price as opposed to lift equipment which had an increase. The most significant change was observed on electric self-propelled scissor lifts which had a 56% price increase. Telescoping boom rough terrain lift trucks also had an 11% increase. 4-wd articulated wheel loaders, crawler mounted hydraulic excavators, and backhoe loaders had a decline of 9%, 4% and 22%, respectively.

Interested in learning more about our Features and Plans?  Visit EquipmentWatch.com.

More in Values & Market Data

Regional Snapshot: The Midwestern States

Sam GiffinApril 27, 2017

Top Four EquipmentWatch Models and Metrics, March 2017 Review

Jessica CarrApril 25, 2017

Model Spotlight: SkyTrak 10054

Michael QuinlanApril 13, 2017
Welcome!
EquipmentWatch Intelligence, brought to you by the analysts of EquipmentWatch, is a resource focused on providing you with data-driven insights for making informed decisions around heavy equipment.
Subscribe to the EquipmentWatch Intelligence Weekly Newsletter
Your information is safe with us. Privacy Policy
Keep me updated
[pdf] http://www.equipmentintel.com/wp-content/uploads/dlm_uploads/2015/01/EquipmentWatch_Index_2014_11_OctoberReview.pdf [/pdf]

Welcome!
Subscribe to the EquipmentWatch Intelligence Weekly Newsletter
Your information is safe with us. Privacy Policy
Subscribe to our Newsletter
Your information is safe with us. Privacy Policy
Value Trend Engine
Consuming a massive amount of market data, over 500k per month, the ValueTrend EngineSM uses a proprietary blend of automated equations to create a model value that adjusts for each market data point entered for that respective model. In other words, our values now are connected to the ebb and flow of market dynamics more than ever in a near-live environment.
Demonstration Request
Subscribe to the EquipmentWatch Intelligence Weekly Newsletter
Your information is safe with us. Privacy Policy
Make Better Equipment Decisions
Media Contact Request
Welcome!
EquipmentWatch Intelligence, brought to you by the analysts of EquipmentWatch, is a resource focused on providing you with data-driven insights for making informed decisions around heavy equipment.
Subscribe to the EquipmentWatch Intelligence Weekly Newsletter
Your information is safe with us. Privacy Policy
Keep me updated
Heavy equipment Intelligence,
right in your inbox.
Enter your email to receive messages about offerings by Penton, its brands, affiliates and/or third-party partners, consistent with Penton's Privacy Policy.
Heavy equipment Intelligence,
right in your inbox.
Enter your email to receive messages about offerings by Penton, its brands, affiliates and/or third-party partners, consistent with Penton's Privacy Policy.
Heavy equipment Intelligence,
right in your inbox.
Enter your email to receive messages about offerings by Penton, its brands, affiliates and/or third-party partners, consistent with Penton's Privacy Policy.