September prices for used categories of large and medium earthmoving equipment are up 9 percent and 8 percent, respectively, compared to August, according to Ritchie Bros.’ mix-adjusted price indexes.
For the third quarter, prices are 6 percent higher than last year for large earthmoving, and 4 percent higher in the medium category.
Large earthmoving includes excavators, dozers, wheel loaders, backhoe loaders, ADTs, and others. The medium category includes skid steer loaders, CTLs, and smaller excavators.
According to Ritchie subsidiary Rouse, retail values across the used equipment market are rising. It cites two consecutive months of “strong sales volume” as indicative of supply constraints easing.
The analysis was part of the October Market Trends Report published by Ritchie Bros.
