November auction volume was back up to a typical level, after a quiet October. Pricing for our benchmark model was generally lower, with less consistency from auction to auction. See below for detail.

Model year 2015: $45,500 average; $9,500 (17.3%) lower than October

Model year 2014: $32,750 average; $1,750 (5.1%) lower than October

Model year 2013: $31,650 average; $3,300 (11.6%) higher than October

Model year 2012: $25,345 average; $2,405 (8.7 %) lower than October

Model year 2011: $20,625 average; $1,125 (5.8%) higher than October

There was more fluctuation in pricing this month, particularly for trucks of model year 2015. The wider swings in hammer price appear to be natural market movement.

Despite the somewhat lower pricing in November, depreciation in 2018 has been nonexistent. On average, trucks four to six years of age are bringing 20.3% more money in 2018 compared to 2017. As we move into the winter months, there will be fewer auctions on the calendar, making market judgments less clear. We expect a typical slowdown in auction volume and mildly lower pricing in the first quarter of 2019.