Rising commodity costs, scaled-back production and scant availability of late-model used equipment has bumped up construction equipment prices this year.
“We saw an exodus of equipment leaving North America over the last five years because it was cheaper to buy here,” says John Crum, national sales manager for Wells Fargo Equipment Finance Inc., Dublin, Pa. “The auction market has become well known, enabling people to see prices and easily sell in this recession. It's now perceived as a smart move.”