Wednesday, May 17, 2017

Equipment Appraising Trends In Pennsylvania

The world of machinery and equipment appraising has taken me to the Southern Indiana and Southeastern Pennsylvania areas as of late.  The assignments in these areas have focused on construction and agriculture equipment respectively.  I’d like to share a couple interesting trends I noticed while analyzing the data from both assignments.   

Koetter Construction is a large commercial contractor in the Floyds Knobs, IN area, and their fleet is primarily construction Equipment based.  Due to the nature of their business, their equipment is constantly moving from job to job, and it took me 2 days to get around to the bulk of it.  Once I was back in the office the data collection and analysis began, which resulted in a fairly flat trend for resale values over the past year.  This supports the projections of the Thompson Research Group predicting a similar market for the first 2 quarters of the year. 

Next I found myself gathering agriculture equipment data for a future equipment appraisal in the Lancaster, PA area.  While Lancaster is known for its Amish/Mennonite communities, it has a lot of industry and Big Ag!  Dairy and poultry are two of the largest agricultural industries in the area.  So I went to Messick’s Farm Equipment in Elizabethtown, PA and talked to some of the staff about recent trends.  One of the salesman said, “Well, if you want to know how resales are going just look at the fluid milk prices”.  According to Lancaster Farming, 2017 is not looking any better than 2016.  This reinforces an article I recently wrote about the grain and beef industries in Kentucky.

In closing, construction equipment is expected to be flat for the near future unless you’re in an area of heavy new construction.  Ag prices are expected to remain at their 2016 levels until we see the grain, beef, dairy, and poultry markets turn.  Thanks for reading.  Yes, if you have ag or construction equipment appraisal needs we’d be glad to talk to you about solving your situation, and keep in mind that we appraise several other categories as well.

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