Used Lift Auction-Asking Value Gap Continues, Includes Used Boom Lifts

The newest Sandhills Global market reports show inventory levels continuing to climb in Sandhills’ U.S. used lift equipment marketplaces. In the overall lift market, which includes forklifts, boom lifts, and scissor lifts, inventory levels were up 7.9% month over month and 17.03% year over year in August.

For a more detailed explanation of these trends, watch our latest video from Machinery Trader Manager Matt Sterup.

Used Lift Market Report Video

“This chart shows where we were at in 2020, pre-COVID; in 2022, when the market was at its peak; and where we're at today in 2024,” says Sterup. “In 2020, prices were fairly flat. COVID hit, and look what happened to pricing: auction values went through the roof, right into 2022. Asking values trail auction values, roughly by 90 to 120 days, and that’s exactly what you’re seeing here. On the retail side, asking values are a little slower to respond, but they follow the trends on the auction side.”

“What's happened since the 2022 peak?” Sterup explains, “Watch what has happened on the auction side. Auction values have declined at a pretty steady rate, down roughly 16% year over year, while the asking side is coming down but not nearly as quickly. So that’s creating a bubble between asking and auction values, and that’s typically a big concern for our sellers. This means we really need to sharpen our pencils and get prices more in line for our sellers.” This is occurring in the boom lift category as well.

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• Q4 Compact Construction Equipment Market Update, October 8, 2024, 3 p.m. CDT
• Q4 Lift Equipment Market Update, October 9, 2024, 10 a.m. CDT

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