If you’re looking to buy an excavator, one of the first questions you’re probably asking is:
How much does an excavator cost?
The answer can vary dramatically.
A small mini excavator can cost tens of thousands of dollars, while a large new excavator can cost several hundred thousand dollars or more. Used excavators can be significantly less expensive, but their condition, age, hours, and specifications can have a major impact on the price.
In this guide, we’ll look at the factors that determine excavator prices and what you should consider before buying one.
Typical Excavator Price Ranges
As a very general starting point, excavator prices can fall into ranges like these:
| Excavator type | Typical price range |
|---|---|
| Small mini excavator | $20,000–$60,000+ |
| Larger mini excavator | $40,000–$100,000+ |
| Mid-size excavator | $100,000–$250,000+ |
| Large excavator | $200,000–$500,000+ |
| Large mining excavators | $1 million+ |
These are broad estimates rather than fixed prices.
The actual price of a machine can be substantially different depending on the manufacturer, model, configuration, attachments, location, condition, and market demand.
Used equipment can also fall far outside these ranges.
What Determines the Price of an Excavator?
Several factors affect what an excavator is worth.
1. Size
Generally, larger excavators cost more.
A compact excavator designed for residential landscaping doesn’t require the same amount of material, power, hydraulic capacity, or manufacturing cost as a large machine used for highway construction or mining.
However, buying the largest excavator you can afford isn’t necessarily a good investment.
The machine needs to match the work.
2. Brand
Brand can have an impact on both purchase price and resale value.
Major manufacturers include:
- Caterpillar
- Komatsu
- John Deere
- Volvo
- Hitachi
- Kobelco
- Hyundai
- Liebherr
Different brands and models have different reputations, dealer networks, specifications, and ownership costs.
3. Operating Hours
For used excavators, operating hours are one of the first things buyers usually look at.
A machine with 2,000 hours will often command a different price than the same model with 10,000 hours.
But hours shouldn’t be viewed in isolation.
A well-maintained high-hour machine can be a better purchase than a low-hour machine that has been neglected.
4. Condition
Two excavators of the same year and model can have completely different values.
When evaluating a used machine, inspect:
- Engine
- Hydraulics
- Undercarriage
- Tracks
- Swing bearing
- Boom
- Stick
- Pins and bushings
- Hydraulic cylinders
- Cab
- Electrical system
Major repairs can quickly turn a cheap machine into an expensive one.
5. Attachments
The attachment package can significantly affect the total price.
An excavator might be sold with:
- Standard bucket
- Hydraulic thumb
- Hydraulic breaker
- Auger
- Grapple
- Tilt bucket
- Compaction wheel
- Specialized buckets
If you already need these attachments, buying a machine that includes them may provide better overall value than purchasing a bare machine and adding everything later.
How Much Does a Mini Excavator Cost?
Mini excavators are generally among the more affordable excavators.
New machines can range from roughly $20,000 to over $100,000, depending on size and configuration.
Used mini excavators can be considerably cheaper.
Mini excavators are popular because they’re useful for jobs such as:
- Landscaping
- Residential construction
- Trenching
- Drainage
- Utility work
- Small foundations
- Demolition
Their compact dimensions can also make transportation easier.
How Much Does a Full-Size Excavator Cost?
Full-size excavators cover a very large range.
A mid-size machine may cost well into six figures when purchased new, while larger machines can cost several hundred thousand dollars.
The more important question is whether the machine will generate enough productivity to justify the investment.
If a smaller excavator can complete your work efficiently, spending more on a massive machine may not make financial sense.
Are Used Excavators Worth Buying?
They can be.
Used equipment can provide a much lower entry cost than buying new.
For a contractor, however, the purchase price is only one part of the calculation.
You should also consider:
Purchase price + financing + transportation + maintenance + repairs + fuel + insurance + downtime
A $75,000 excavator that needs $30,000 in repairs isn’t necessarily a better deal than a $95,000 machine in excellent condition.
What Should You Look for When Buying Used?
Before buying a used excavator, ask for maintenance records whenever possible.
Then inspect the machine carefully.
Check the Undercarriage
On tracked excavators, undercarriage wear can be expensive.
Look at the:
- Track chains
- Rollers
- Idlers
- Sprockets
- Track shoes
Check the Hydraulics
Look for leaks and test the hydraulic functions.
Pay attention to slow or inconsistent movement.
Check the Engine
Ideally, inspect the machine during a cold start.
Watch for excessive smoke, unusual noises, hard starting, or other signs of problems.
Check for Excessive Play
Inspect the boom, stick, bucket, pins, and bushings.
Excessive movement can indicate significant wear.
Check the Machine’s History
Ask:
- Who owned it?
- What type of work did it perform?
- Was it used for demolition?
- Was it used in mining?
- How often was it serviced?
- Have major components been replaced?
- Are service records available?
The machine’s history can tell you a lot about its remaining useful life.
Don’t Forget Operating Costs
The purchase price isn’t the only cost of owning an excavator.
Depending on the machine and application, you’ll need to account for:
- Fuel
- Oil
- Filters
- Routine maintenance
- Undercarriage wear
- Tires or tracks
- Repairs
- Transportation
- Insurance
- Storage
- Operator costs
If you’re buying equipment for a business, estimating the total cost of ownership is much more useful than simply comparing sticker prices.
Should You Buy or Rent?
If you only need an excavator for a short-term project, renting may make more sense than purchasing.
Buying can make sense when:
- You use the machine regularly
- You have consistent work
- You want to build equipment equity
- You can keep the machine productive
- You have the resources to maintain it
Renting can make sense when:
- You only need the machine occasionally
- The project is short
- You don’t want maintenance responsibilities
- You need a specialized machine temporarily
The right decision depends on how often you’ll use the equipment and the economics of your particular business.
Final Thoughts
There isn’t one price for an excavator.
The cost depends on size, brand, model, age, hours, condition, attachments, and market conditions.
If you’re shopping for a used machine, don’t automatically choose the cheapest excavator you can find.
Instead, look at the complete picture:
What will the machine cost me, what will it cost to operate, and how much productive work can it do?
That’s the number that really matters.
As you compare excavators, take the time to compare specific models rather than relying solely on brand reputation or purchase price.
A machine that costs more today can sometimes be the better investment if it provides better reliability, productivity, dealer support, and resale value.