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Not across the board. U.S. used-market listings for high-horsepower tractors and combines were lower year over year in August 2026, while their reported auction values were higher. Asking prices told a different story: nearly flat for tractors and slightly higher for combines. The direction depends on the machine and whether you mean asking, auction or sold prices.
What the latest used-equipment data show
Sandhills Global’s August 2026 Equipment Value Index (EVI) tracks equipment listed in its auction and retail marketplaces, including model-year equipment actively in use. It is a marketplace measure, not a census of every machine or transaction in the United States. In that snapshot, inventory was down year over year in both of the covered categories, but auction values had risen.
| Used-equipment segment | Inventory, year over year | Asking value, year over year | Auction value, year over year |
|---|---|---|---|
| Tractors rated 100 horsepower and greater | Down 15.49% | Down 0.09% (nearly flat) | Up 4.45% |
| Combines | Down 10.18% | Up 1.46% | Up 4.66% |
Source for all table values: Sandhills Global, August 2026 market report. The EVI spread is the difference between asking and auction values. These figures describe listed-market inventory and reported value measures, not a single price paid for every machine.
The direction is consistent with a market where supply has tightened in these listed segments, but it does not show a broad price decline in August. Auction values were higher year over year, while asking values were nearly unchanged for tractors and modestly higher for combines. The snapshot also does not establish that values have returned to earlier peaks.
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Asking, auction and sold prices answer different questions
- Asking or list price: What a seller is seeking. It is not proof of what a buyer will pay.
- Auction value: A value measure associated with auction-market equipment. It can move differently from retail asking values.
- Sold value: A recorded transaction value. It is the most direct evidence of a completed sale, but still needs context such as machine model, hours and condition.
Sandhills’ December 2025 snapshot illustrates why no single label captures the whole market: high-horsepower tractor inventory was down 15.46% year over year while asking prices were down 5.85%; combine inventory was down 9.5% while combine auction values were up 7.47%. These are separate category and price-measure comparisons, not evidence that every tractor or combine became cheaper. Source: Sandhills Global, January 7, 2026.
For combines, a June 2026 analysis by Tractor Zoom, published by Farm Equipment, found the average gap between retail list and sold values narrowed from 10% in the second quarter of 2025 to 6.5% in the second quarter of 2026. That suggests the relationship between listings and completed sales changed in the analysis’s covered market; it is not a guarantee that a buyer can negotiate the same discount on a particular machine. Source: Farm Equipment / Tractor Zoom, June 29, 2026.
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Why late-model equipment accumulated
The supply buildup has a recent-cycle context. Equipment was difficult to obtain during the 2021–22 shortages. Production and deliveries later increased, putting more new machines on dealer lots while late-model used inventory accumulated. In February 2024, Sandhills quoted Ryan Dolezal, TractorHouse Sales Manager, saying: “As a result, late-model inventory is building up on dealers’ lots, which can lead to lower retail pricing in the near term.” That was a dated explanation of the cycle, not a current price forecast. Source: Sandhills Global, February 6, 2024.
New-equipment sales subsequently weakened. Farmdoc daily reported preliminary U.S. 2025 sales of 195,857 farm tractors, down 9.86% from 2024, and 3,579 combines, down 35.58%. These are new-equipment unit sales, not counts of used machines for sale. Farmdoc also reported that manufacturers scaled back production to bring dealer inventories more in line with demand. U.S. manufacturer farm machinery and equipment inventories, using Census Bureau data presented by farmdoc, fell from approximately $7.23 billion in October 2022 to $5.72 billion in December 2025, a 20.84% decrease. This manufacturer inventory measure is not interchangeable with Sandhills’ used-market listings. Source: farmdoc daily, February 27, 2026.
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Farmdoc, citing an Ag Equipment Intelligence survey, also reported that 67.5% of surveyed dealers said their 2025 new-equipment sales declined by at least 2%, and 46.3% reported a decline of at least 2% in used-equipment sales. Those are survey results, not a census of dealer sales. Together, the sales and inventory indicators show a cooling market cycle, but do not isolate how much any individual factor caused used prices to move.
Combine supply is tightening, but model and hours matter
Tractor Zoom’s June 2026 analysis reported that Class 8 combine supply was 16% lower year over year and 37% below its August 2024 peak. Those percentages apply to the analysis’s Class 8 supply data, not every combine class or all U.S. transactions. The same analysis found differing value behavior across machine-hour bands and named models; lower-hour machines could outperform broader trends. Source: Farm Equipment / Tractor Zoom, June 29, 2026.
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For a specific combine, compare like with like: model and configuration, year, hours, condition, location and included equipment. A broad category average cannot tell you whether a particular low-hour machine is priced fairly, especially when local availability and buyer interest differ.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is now a good time to buy a used combine?
The available figures do not support a blanket yes or no. The August 2026 Sandhills snapshot showed fewer listed used combines but higher year-over-year asking and auction values. Tractor Zoom’s Class 8 analysis showed reduced supply relative to both the prior year and its August 2024 peak. A buyer looking for a specific configuration may face less choice even while the broader market is softer than its post-shortage period.
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Before making an offer, use comparable machines and completed-sale evidence where available, rather than treating asking prices as transaction prices. Check the machine’s hours, condition and service history, and account for freight, repairs and financing in the total cost. The cited market reports do not control for those factors or establish a fair price for an individual unit.
How to read the next market update
- Check the publication month and whether the comparison is year over year or month over month.
- Confirm the category and segment: tractor horsepower class, combine class, model and hours can change the picture.
- Identify whether the figure is inventory, asking value, auction value or completed-sale value.
- Keep the source’s coverage in view: a marketplace index, vendor analysis, dealer survey and government-based manufacturer inventory statistic measure different things.
That distinction is especially important when headlines say prices are “bending.” The evidence supports uneven movement: earlier retail pressure during the inventory buildup, followed by lower listed supply and higher auction values in the August 2026 tractor and combine snapshots—not a uniform decline across farm equipment.
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
