Skid steer pricing levels off

As the market returns to normal following the pandemic, the supply of used skid steers is steady, with prices starting to level off. 

“In talking with a lot of our dealers, skid steers were one of the hardest things to keep on the lot post-pandemic, and in 2021 and 2022, they were in very short supply,” says Andy Campbell, director of insights for Tractor Zoom, a nationwide business that connects buyers with sellers. “Finally, around July 2023, we started to see the supply return, but it’s not an oversupply, by any means.”

If you’re willing to transport, says Scott Cook, purchasing agent for Cook Auction Co. in Clinton, Missouri, you can choose from plenty of machines available all over the country. 

“It’s easy to arrange trucking and delivery,” he says. “Freight is not that big of a deal on a skid loader, because you can get four or five on a truck.”

Pricing has been interesting due to the scarcity for a few years, Campbell says. 

“For a while, we saw the typical depreciation in older models flipped upside down,” he says. “But now we’re back to what you might expect for 10- to 12-year-old models. Used value at auction today is down about 7% from what they were on average last year.”

Cook says he saw used skid steer prices dropping 20% to 30% through most of 2023.  

“The [COVID stimulus] money that everyone received allowed people to purchase new equipment similar to the price of used,” he says. “Now, that extra liquidity has been taken out. The market bottomed out around October, but it picked back up at little at the end of the year. If you had a $50,000 machine, it dropped to around $30,000, but now it’s back up closer to $40,000.”

Auction results

All major ag auction sites list skid steers, but to get a more complete picture of what is available in the ag and construction market, this month’s listings come from machinerytrader.com. A search for 2020 and newer skid steers with enclosed cabs returned 912 units sold within the last six months. A third of those were Bobcats, with another third being Caterpillars and John Deeres combined. 

Of those, the highest sale was a 2022 Caterpillar 299 D3 XE in Oklahoma, which brought $113,300 and had 214 hours. The low was a 2020 Deere 314G in Arizona, with 990 hours at $13,500. The average selling price was $47,108. 

Tracks vs. wheels

The most influential factor on selling price seemed to be tracks vs. wheels. In general, the tracked machines sold for higher prices; there also were more available. Just over 10% of the units I looked at had wheels, and all the wheeled machines sold for less than the average. 

“As a comparison, I’m seeing tracked skid steers bringing a 15% to 20% premium over wheeled,” Campbell says. “They’re in higher demand, and most of them are newer because they were introduced more recently.”

Other factors that can increase selling price are whether the unit is equipped with two-speed and/or high-flow hydraulics, Cook says. “Two-speed lets you traverse longer distances more quickly, and high-flow is important for certain attachments, like tree grinders, that take more volume of oil.”

Evaluating a used skid steer

Because skid steers are used in many different ways, it’s important to do your due diligence when considering a used machine. Ben Freidhof, general manager of used equipment at Ziegler Ag, in the Upper Midwest and Missouri, says the first thing to look at is the general overall appearance. 

“Is there a lot of rust? It was likely used in the salt shed at the county or in a fertilizer barn at a co-op,” he says. Those conditions can lead to corrosion on wiring harnesses and hoses.

Tracked machines take a little bit more abuse, Freidhof says, “because we’re out there doing stuff with them that maybe we shouldn’t be, because they act like little bulldozers. That being said, they are usually very well-built machines that will last a long time.”

Pins and bushings also merit attention because skid steers contain many moving parts. Freidhof recommends running the machine, paying attention to creep, drift, and bucket movement. Most newer skid steers have engine control module (ECM) systems that may also provide some insight into potential maintenance needs. 

Also, Freidhof says, check on whether the unit has had the emissions system “deleted” (removed).

“From our dealership standpoint, we can’t work on a deleted machine until it’s been brought back to factory specifications,” Freidhof says. “So you’d have to spend some money to get it back to level set before we can even touch it. That’s snuck up on some people.”

Cook also recommends ensuring that a used machine’s emissions system is working properly. 

“Sometimes, even on lower-hour machines, if they’ve been idling too much, they can plug themselves up,” he says. “If you can’t clean that out, it could cost $5,000 or more, one of the most expensive repairs right now on a skid steer.”

If heat and air conditioning are important to you, Cook says, double check whether the machine has both. 

“You can’t add air conditioning later, and there are still areas that don’t order units with it installed because they don’t think they need it,” he says.