Executive Summary

The heavy equipment market experienced significant price volatility over the past 30 days, with guarantee valuations shifting by as much as +95.1% and -60.5% across major categories. New Holland posted the most dramatic increase, with guarantee prices climbing from $17,064 to $33,294—a 95.1% jump—while listing prices surged 104.4% from $21,482 to $43,900. On the opposite end, Elgin guarantee values collapsed 60.5%, falling from $9,413 to $3,716.

Volume leaders Caterpillar and John Deere both posted solid gains. Caterpillar guarantee prices rose 10.0% ($41,895 to $46,084) on 1,287 current period valuations, up from 1,165 prior period. John Deere guarantee prices increased 5.8% ($46,800 to $49,537) with valuations expanding from 583 to 653 units.

Major Gainers: Categories to Watch

New Holland: +95.1% Guarantee, +104.4% Listing

New Holland guarantee prices nearly doubled, jumping from $17,064 to $33,294. Listing prices followed suit, surging from $21,482 to $43,900. Valuations increased from 43 to 48 units. This extraordinary movement suggests either a shift toward higher-spec models entering the market or tightening supply in key segments.

Fruehauf: +185.3% Guarantee, +164.3% Listing

The trailer manufacturer posted the largest percentage gain in guarantee values, rocketing from $4,102 to $11,702. Listing prices climbed from $5,919 to $15,646. With valuations rising from 33 to 39 units, demand for quality trailers appears exceptionally strong.

Link-Belt: +80.2% Guarantee, +70.0% Listing

Crane and lifting equipment values soared, with guarantee prices jumping from $56,229 to $101,312 and listings from $80,942 to $137,566. Valuations more than doubled, from 29 to 60 units. This signals robust infrastructure project activity driving crane demand.

Oshkosh: +17.2% Guarantee, +16.1% Listing

Specialty truck and access equipment values strengthened, with guarantee prices rising from $12,127 to $14,208 and listings from $17,858 to $20,735. Volume held steady at 86-87 valuations.

Terex: +13.6% Guarantee, +20.7% Listing

Terex guarantee prices increased from $27,155 to $30,835, while listing prices surged from $37,840 to $45,678. This wider spread between guarantee and listing gains suggests sellers are testing higher price points in a strengthening market.

Ford: +12.2% Guarantee, +11.0% Listing

Commercial truck values gained momentum, with guarantee prices rising from $10,901 to $12,233 and listings from $16,314 to $18,113. Valuations expanded from 356 to 377 units.

International: +10.1% Guarantee, +9.4% Listing

Medium and heavy-duty truck values climbed, with guarantee prices moving from $14,792 to $16,280 and listings from $20,470 to $22,391.

Caterpillar: +10.0% Guarantee, +9.8% Listing

The market leader's guarantee prices rose from $41,895 to $46,084, with listings tracking closely from $54,924 to $60,328. The 1,287 valuations represent a 10.5% increase in market activity, confirming sustained buyer interest.

Bomag: +10.8% Guarantee, +10.8% Listing

Compaction equipment values moved in lockstep, with both guarantee and listing prices rising 10.8%—guarantee from $11,086 to $12,281, listing from $14,027 to $15,547.

Additional Notable Gainers

Hyundai: +31.2% guarantee ($30,561 to $40,099), +23.4% listing ($42,809 to $52,832)
Genie: +26.9% guarantee ($7,610 to $9,656), +31.1% listing ($10,205 to $13,381)
Grove: +25.5% guarantee ($18,324 to $22,993), +18.6% listing ($26,847 to $31,836)
Western Star: +16.8% guarantee ($32,576 to $38,060), +26.3% listing ($42,296 to $53,425)
Dynapac: +17.7% guarantee ($11,513 to $13,556), +16.2% listing ($14,904 to $17,313)
Wabash National: +14.3% guarantee ($3,448 to $3,942), +18.9% listing ($4,222 to $5,022)
RAM: +6.8% guarantee ($18,782 to $20,062), +15.1% listing ($27,203 to $31,308)
Mack: +7.7% guarantee ($27,185 to $29,269), +5.9% listing ($36,575 to $38,718)
Kaufman: +46.7% guarantee ($11,291 to $16,563), +37.9% listing ($15,710 to $21,666)
MAC: +31.3% guarantee ($30,221 to $39,678), +32.1% listing ($40,276 to $53,185)
Autocar: +38.4% guarantee ($6,906 to $9,561), +34.5% listing ($9,885 to $13,297)

Major Decliners: Buyer Opportunities

Elgin: -60.5% Guarantee, -60.5% Listing

Street sweeper and specialty municipal equipment values cratered, with both guarantee and listing prices falling from $9,413 to $3,716 and $11,766 to $4,646 respectively. Valuations dropped from 17 to 10 units, indicating a collapsing market segment.

Metso: -29.4% Guarantee, -26.7% Listing

Aggregate processing equipment guarantee prices plunged from $128,024 to $90,436, with listings falling from $170,040 to $124,595. This sharp decline in high-value processing equipment warrants attention from quarry operators.

Isuzu: -23.4% Guarantee, -28.7% Listing

Commercial truck values weakened considerably, with guarantee prices dropping from $15,874 to $12,163 and listings from $23,268 to $16,594. Despite valuations rising from 27 to 44 units, prices moved lower—suggesting oversupply in the light-duty cabover segment.

Altec: -21.4% Guarantee, -20.5% Listing

Utility and telecom equipment values declined, with guarantee prices falling from $15,370 to $12,083 and listings from $21,172 to $16,836.

McCloskey: -20.4% Guarantee, -9.9% Listing

Screening and crushing equipment guarantee prices dropped from $161,914 to $128,963, though listings held relatively firmer at $171,444 versus $190,360 prior. Valuations fell from 25 to 15 units.

Additional Notable Decliners

GMC: -14.2% guarantee ($7,096 to $6,091), -12.3% listing ($10,751 to $9,434)
Sandvik: -14.4% guarantee ($108,616 to $92,922), -12.9% listing ($154,346 to $134,459)
Utility: -12.6% guarantee ($7,511 to $6,561), -15.7% listing ($10,188 to $8,592)
Hamm: -12.9% guarantee ($30,470 to $26,536), -10.9% listing ($39,414 to $35,136)
Kawasaki: -16.3% guarantee ($18,569 to $15,543), -15.5% listing ($24,655 to $20,823)
Massey Ferguson: -11.7% guarantee ($29,964 to $26,465), -10.8% listing ($35,632 to $31,775)
Blaw-Knox: -17.9% guarantee ($5,541 to $4,548), -17.9% listing ($7,203 to $5,912)
Hino: -18.1% guarantee ($11,604 to $9,508), -20.8% listing ($17,639 to $13,968)
Clark: -24.9% guarantee ($2,582 to $1,940), -23.2% listing ($3,363 to $2,582)
Interstate: -23.4% guarantee ($7,904 to $6,058), -21.7% listing ($10,099 to $7,908)
Trail King: -10.0% guarantee ($20,338 to $18,311), -15.3% listing ($29,250 to $24,777); notably, valuations collapsed from 55 to 23 units
Tigercat: -12.2% guarantee ($66,004 to $57,955), -15.6% listing ($99,561 to $83,993)
Bandit: -9.6% guarantee ($52,080 to $47,076), -7.2% listing ($80,726 to $74,904)
Big Tex: -7.3% guarantee ($8,211 to $7,610), -7.6% listing ($10,491 to $9,690)
Komatsu: -6.0% guarantee ($38,810 to $36,464), -1.4% listing ($51,872 to $51,138); the narrow listing decline suggests dealers holding firm on ask prices
Volvo: -4.4% guarantee ($33,366 to $31,914), -5.8% listing ($43,599 to $41,083)
Bobcat: -4.8% guarantee ($24,144 to $22,983), -1.6% listing ($31,134 to $30,627)
Kubota: -6.9% guarantee ($28,048 to $26,113), -2.4% listing ($34,188 to $33,360); valuations surged from 72 to 100 units despite price weakness
Vermeer: -6.9% guarantee ($60,603 to $56,397), -10.0% listing ($79,268 to $71,337)
JLG: -5.6% guarantee ($20,832 to $19,667), -4.6% listing ($30,308 to $28,923)
Manitowoc: -5.8% guarantee ($88,080 to $82,957), -0.4% listing ($119,597 to $119,127); minimal listing movement indicates crane dealers reluctant to discount
Liebherr: -9.0% guarantee ($69,822 to $63,559), -3.8% listing ($92,032 to $88,543)
Sterling: -9.3% guarantee ($15,800 to $14,338), -9.6% listing ($23,720 to $21,439)
Ingersoll-Rand: -11.2% guarantee ($8,477 to $7,528), -10.0% listing ($10,489 to $9,442)
Chevrolet: -9.2% guarantee ($10,657 to $9,677), -4.6% listing ($14,666 to $13,990)

Stable Categories: Minimal Movement

Several categories showed limited price movement, suggesting balanced supply-demand dynamics:

Kenworth: +3.4% guarantee ($43,739 to $45,218), +5.5% listing ($61,547 to $64,952); valuations expanded significantly from 273 to 346 units
Freightliner: -0.6% guarantee ($20,058 to $19,941), +4.2% listing ($28,376 to $29,554); mixed signals with slight guarantee softness but listing strength
Case: -2.6% guarantee ($32,012 to $31,170), -1.3% listing ($40,971 to $40,418); valuations nearly flat at 173-174 units
JCB: +2.9% guarantee ($19,263 to $19,825), +0.9% listing ($26,624 to $26,853)
Doosan: -3.3% guarantee ($45,140 to $43,661), -2.5% listing ($61,900 to $60,358); valuations flat at 34 units
Hitachi: -3.3% guarantee ($42,626 to $41,209), -1.2% listing ($59,449 to $58,722); valuations rose from 54 to 70 units
Kobelco: -2.6% guarantee ($30,557 to $29,774), -4.7% listing ($41,813 to $39,833)
Stoughton: 0.0% guarantee ($2,845 flat), +9.0% listing ($3,476 to $3,788)
White/GMC: +0.6% guarantee ($6,592 to $6,634), -1.3% listing ($9,520 to $9,392)
Lull: -0.9% guarantee ($14,557 to $14,428), -3.1% listing ($19,911 to $19,292)
Bell: -0.4% guarantee ($102,500 to $102,120), +9.2% listing ($139,917 to $152,783)
Morbark: -3.4% guarantee ($331,857 to $320,691), -3.6% listing ($440,534 to $424,525)

Market Drivers: What's Moving Prices

Infrastructure Spending Ripple Effects

The surge in Link-Belt (+80.2%), Grove (+25.5%), and Terex (+13.6%) guarantee prices directly correlates with federal infrastructure investment flowing into bridge, highway, and utility projects. Crane and lifting equipment lead times have extended, pushing buyers toward quality used equipment and compressing supply.

Seasonal Construction Acceleration

The 10.0% Caterpillar guarantee price increase and 5.8% John Deere gain reflect typical Q2-Q3 construction seasonality in North America. With 1,287 Caterpillar valuations processed, the volume expansion confirms active market participation rather than speculative pricing.

Trucking Market Divergence

The split between gainers (Ford +12.2%, International +10.1%, Mack +7.7%) and decliners (Isuzu -23.4%, Hino -18.1%, Sterling -9.3%) reveals a market bifurcation. Medium-duty cabover trucks face oversupply as last-mile delivery growth moderates, while conventional Class 7-8 trucks serving construction and regional freight maintain strength.

Trailer Market Exceptionality

Fruehauf's 185.3% guarantee price explosion and Wabash National's 14.3% gain contrast with Utility's 12.6% decline and Trail King's 15.3% drop. Dry van and specialty trailer demand diverges sharply from flatbed and tank segments, likely reflecting manufacturing reshoring activity and equipment-specific supply constraints.

Compaction and Paving Strength

Bomag's synchronized 10.8% guarantee and listing gains, combined with Dynapac's 17.7% guarantee surge, signal robust roadbuilding activity. These categories typically lag infrastructure announcements by 6-12 months, suggesting sustained demand through year-end.

Actionable Intelligence for Buyers

Immediate Opportunities

Browse Excavators — Komatsu guarantee prices declined 6.0% ($38,810 to $36,464) with valuations rising from 229 to 247 units. The expanding inventory with softening prices creates negotiation leverage for excavator buyers.

Browse Dozers — Case and Kobelco both posted modest declines (-2.6% guarantee each) with stable to rising inventory levels.

Browse Cranes — Manitowoc guarantee prices slipped 5.8% ($88,080 to $82,957) while listings barely moved (-0.4%), suggesting dealer resistance to discounting. Patient buyers may find motivated sellers in this gap.

Browse Trucks — Isuzu and Hino present exceptional value for urban delivery operations, with guarantee prices down 23.4% and 18.1% respectively. Chevrolet commercial trucks dropped 9.2% guarantee, GMC fell 14.2%.

Browse Trailers — Utility trailer guarantee values declined 12.6% ($7,511 to $6,561), with listings down 15.7%. Trail King values dropped 10.0% guarantee and 15.3% listing as valuations collapsed from 55 to 23 units.

Browse Lifts — JLG guarantee prices fell 5.6% ($20,832 to $19,667) and Skyjack dropped 2.8% ($5,376 to $5,225). Genie moved opposite at +26.9%, so compare spec-for-spec value.

Categories to Monitor Closely

Volvo guarantee prices declined 4.4% with listings down 5.8%—the wider listing spread suggests accelerating weakness. Vermeer's 6.9% guarantee decline paired with 10.0% listing drop indicates compactor buyers should act quickly before further deterioration.

Actionable Intelligence for Sellers

List Now: Peak Market Conditions

New Holland equipment — With guarantee prices up 95.1%, this is an exceptional liquidation window. The 48 valuations (up from 43) show active buyer participation.

Fruehauf trailers — The 185.3% guarantee price surge may not sustain. Lock in gains while the market absorbs limited inventory.

Link-Belt cranes — At $101,312 guarantee versus $56,229 prior, this represents a generational selling opportunity. Double the valuation volume (29 to 60) confirms liquidity.

Hyundai excavators and wheel loaders — The 31.2% guarantee increase with 45 valuations (up from 37) indicates strong absorption capacity.

Terex equipment — The 20.7% listing price surge outpaced 13.6% guarantee gains, showing seller pricing power. Test higher ask prices.

Hold or Defer: Softening Markets

Elgin, Metso, McCloskey — These categories face structural demand challenges. Unless immediate liquidity needs exist, defer listing until market stabilization.

GMC and Chevrolet commercial trucks — With guarantee prices down 14.2% and 9.2% respectively, seasonal Q4 tax-buying season may offer better exit pricing.

Trail King — The valuation collapse from 55 to 23 units combined with 10.0% guarantee decline signals thin market conditions. Defer unless necessary.

Strategic Timing: Mixed Signals

Caterpillar and John Deere — Strong volume and price gains favor sellers, but the 10.0%+ moves may attract additional supply. List within 30 days before inventory builds.

Freightliner — The -0.6% guarantee decline with +4.2% listing increase suggests dealers absorbing margin compression. Owner-sellers may find private-party buyers at listing levels.

30-Day Outlook

The current market exhibits classic late-cycle expansion characteristics: selective category strength, widening bid-ask spreads in volatile segments, and volume concentration in established brands. Caterpillar's valuation expansion to 1,287 units provides market stability even as niche categories experience extreme swings.

Expect continued strength in infrastructure-exposed categories (cranes, paving equipment, heavy trucks) through Q3. The New Holland and Fruehauf anomalies likely represent temporary supply constraints rather than sustainable trends—sellers should capitalize within 60 days.

Downside risk concentrates in imported light-duty trucks (Isuzu, Hino), municipal equipment (Elgin), and select aggregate processing gear (Metso, McCloskey). Buyers with operational flexibility should target these categories for Q3 acquisition.

The Kenworth valuation surge (273 to 346 units, +26.7%) with modest 3.4% guarantee gains suggests a market building momentum—watch this category for breakout pricing in the next reporting period.

For real-time pricing data and inventory availability, browse all equipment categories on Proxy Equipment.

Heavy Equipment Prices Surge: New Holland Jumps 95.1% as Market Volatility Intensifies