(NAFB.com) – The price of used high-horsepower tractors fell between 18% and 23% from 2023/24 levels, while regional auctions report used equipment values fell by as much as 40%. So far in 2025, used equipment values found footing, a trend on the verge of reversing due to growing strains in the farm economy. According to the Machinery Pete website, “After the huge rate of drop we saw in 2024, which mirrored the big dropoff in 2014 to 2015, I thought it would keep sliding a little bit longer,” says Greg Peterson, who’s also known as Machinery Pete. Instead, it has leveled off through the first half of the year. The catalyst for the dramatic drop in used equipment values in 2024 was the amount of used equipment flooding the auction market. It was a total supply issue, according to Peterson.