The Evolving Landscape of Used Gym Equipment Auctions: 2024 Market Insights
Last year we brought you a blog on trends in fitness equipment auctions for 2023. Now that we're nearing Q4 of 2024, it's time for an update! The fitness industry continues to thrive, with the market for used gym equipment showing remarkable resilience and growth. At Grafe Auction, we've witnessed firsthand the dynamic nature of this sector through our recent auctions. Today, we're diving deep into the latest trends, top-selling items, and key insights from our most recent fitness equipment auctions, offering valuable information for both buyers and sellers in this vibrant market.
Current State of the Fitness Equipment Market
As we move further into 2024, the demand for quality used gym equipment remains strong. This trend is driven by a combination of factors, including the continued growth of home gyms, the expansion of boutique fitness centers, and established gyms looking to update their equipment cost-effectively. Our recent auctions have seen a diverse range of buyers, from individual fitness enthusiasts to commercial gym owners, all seeking value in pre-owned equipment.
Top Trends in Used Gym Equipment Auctions for 2024
- Strength Training Equipment Dominance: The popularity of strength training equipment continues unabated. Our data shows that power racks, cable machines, and multi-function strength stations are consistently top sellers. For instance, a Matrix G3-MS20 Aura Adjustable Cable Cross Over sold for an impressive $1,300, while Matrix Power Squat Racks fetched between $2,100 and $2,400 each.
- High-End Cardio Equipment in Demand: Premium cardio machines remain highly sought after. Treadmills, ellipticals, and stationary bikes from reputable brands like Woodway, Matrix, and Precor are commanding strong prices. A standout sale was a Woodway DESMO-ELITE Electric Treadmill, which sold for $2,500, highlighting the enduring value of top-tier cardio equipment.
- Functional Training Gear on the Rise: We've observed increased interest in functional training equipment. Items like battle ropes, kettlebells, and adjustable benches are selling well. For example, a set of kettlebells with a stand sold for $425, indicating the growing focus on versatile, space-efficient training tools.
Valuation Factors for Used Gym Equipment
- Brand Reputation: Established brands like Matrix, Life Fitness, and Precor continue to command premium prices. For instance, Matrix ellipticals consistently sold for $450-$550, showcasing the value placed on reputable manufacturers.
- Condition and Age: Well-maintained equipment, regardless of age, fetches higher prices. This was evident in the sale of a Matrix VS-S601 Combo Chin/Dip Assist for $850, likely due to its excellent condition.
- Versatility and Space Efficiency: Multi-function equipment that offers versatility in a compact footprint is highly valued. Matrix Multi-Function Exercise Equipment selling for $650 is a prime example.
Most Sought-After Used Gym Equipment in 2024
- Strength Training:
- Power Racks and Squat Racks (Matrix MG-OPT45-02 selling for $2,100-$2,400)
- Cable Crossover Machines (Matrix G3-MS20 at $1,300)
- Multi-Function Strength Stations
- Cardio Equipment:
- High-End Treadmills (Woodway DESMO-ELITE at $2,500)
- Ellipticals (Matrix models consistently fetching $450-$550)
- Stationary Bikes (including spin bikes like Keiser M3, selling for $160-$325)
- Functional Training:
- Adjustable Benches
- Kettlebell Sets
- Olympic Bars and Weight Plates
- Specialty Equipment:
- Rowing Machines (Concept II Indoor Rower sold for $550)
- Adaptive Motion Trainers (Precor AMT 100i at $500)
Evolving Trends: A Year-over-Year Comparison
As we analyze the latest data from our recent fitness equipment auctions, let's compare these trends with those we observed last year. This comparison not only highlights the evolving nature of the used gym equipment market but also provides valuable foresight for buyers and sellers alike.
- Strength Training Equipment: Last Year: Strength training equipment, particularly power cages, Olympic barbells, and heavy dumbbell sets, dominated sales. 100lb+ dumbbell sets were moving quickly in the $1000 to $1600 range. This Year: The dominance continues, but with a shift towards more versatile, space-efficient options. While heavy dumbbells remain popular, we're seeing increased interest in adjustable systems and multi-function strength stations. The Matrix Power Squat Racks selling for $2,100-$2,400 exemplify this trend, offering comprehensive strength training capabilities in a single unit.
- Cardio Equipment: Last Year: Classic cardio options like treadmills and ellipticals remained in high demand, with late model Precor and Matrix machines selling for $300-$400. This Year: We've seen a significant uptick in prices for high-end cardio equipment. For instance, the Woodway DESMO-ELITE Electric Treadmill sold for $2,500, and Matrix ellipticals consistently fetched $450-$550. This suggests a growing willingness among buyers to invest in premium cardio machines, possibly driven by increased home gym setups and boutique fitness centers.
- Multi-Station Gyms: Last Year: Cable-based multi-gyms were highly sought after, with a Matrix 8-stack unit moving for $7,000. This Year: The trend towards multi-function equipment continues, but with a focus on more compact, versatile options. The Matrix G3-MS20 Aura Adjustable Cable Cross Over selling for $1,300 indicates a preference for adaptable equipment that can serve multiple purposes without dominating floor space.
- Accessories and Smaller Equipment: Last Year: Bulk lots of bands, foam rollers, and other accessories found eager buyers, with items like large rubber flooring sections selling in the $300-$500 range. This Year: While accessories remain popular, we're seeing increased interest in functional training gear. Kettlebell sets, for example, sold for up to $425, indicating a shift towards more diverse, functional workout tools.
- Technology Integration: Last Year: This wasn't a significant trend in our previous analysis. This Year: We've observed a growing interest in equipment with integrated technology. The LiveStrong by Matrix Exercise Bike with Indoor My Ride VX Console selling for $425 exemplifies this new trend, suggesting buyers are placing higher value on interactive and tech-enhanced workout experiences.
- Pricing Trends: Last Year: Used equipment was generally selling at significant discounts compared to new retail prices. This Year: While still offering value, we're seeing some high-end used equipment commanding prices closer to their new counterparts, especially for commercial-grade machines in excellent condition. This suggests a maturing market where buyers recognize the long-term value of quality equipment.
This year-over-year comparison reveals a market that's not just growing but evolving in response to changing fitness trends and consumer preferences. The continued strength in both cardio and strength equipment sales, coupled with the rising interest in versatile, space-efficient, and technologically advanced options, paints a picture of a dynamic and resilient used gym equipment market.
Charissa Bires
From Barbells to Treadmills: Maximizing Value in the Fitness Equipment Market
The used gym equipment market in 2024 continues to show robust growth and evolution. With strength training equipment leading the charge, followed closely by high-end cardio machines and functional training gear, there's never been a better time for buyers to invest in quality pre-owned fitness equipment. For sellers, understanding these trends can help in maximizing the value of their assets.
At Grafe Auction, we're committed to facilitating this dynamic marketplace, ensuring that both buyers and sellers can benefit from the ongoing fitness boom. Whether you're looking to outfit a home gym, upgrade your commercial fitness center, or liquidate your gym assets, our auctions provide a transparent, efficient, and value-driven platform.
Stay tuned to our upcoming auctions for more opportunities in the fitness equipment market. For personalized advice on buying or selling used gym equipment, don't hesitate to contact our expert team at Grafe Auction.
PO Box 338Stewartville, MN 55976 Toll Free Voice/Fax: (800) 328-5920