Used equipment values took a slight dip in August, according to Rouse Asset Services. Meanwhile, auction sales of rental and construction equipment averaged 0.8% less than July values.
The September Rouse Rental Report says August orderly liquidation values (OLV) for used equipment across the 14 major rental category indices tracked by Rouse decreased 0.3% from July values. For the six months ending August 31, 2012, average index values increased 1.3%. Six out of 14 category indices recorded one-month value increases ranging from 0.4% for generators and rolling compaction equipment to 2.8% for air compressors.
According to the report, August auction sales of rental and construction equipment tracked by Rouse averaged 0.8% lower than Rouse July forced liquidation values (FLV). Rouse recorded 2,643 units that sold at 23 separate auction sales conducted across North America. The units represented a combined FLV (as of August 31st) of $60.2 million and generated $59.7 million of gross auction proceeds.
In other news, Rouse reported that June rental rates increased on average of 1.2% for the rental companies participating in the Rouse Analytics Rental Metrics Benchmark Service. Rates increased 7.5% relative to June 2011. Rouse Analytics calculates rate change weighted by prior period activity in accordance with the ARA Rental Market Metrics standard.