Ritchie Bros. Says Prices are Climbing Slowly

Ritchie Bros. Says Prices are Climbing Slowly

The October report from auctioneer Ritchie Bros. shows that prices for most equipment are rising slowly.

The company handles billions of dollars of equipment transactions each year, and the company shares its insights about trends through the Market Trends module of its Asset Solutions suite of tools.

Market Trends lets customers, investors, and analysts better understand the strength of an asset class through in-depth analysis of Ritchie Bros.’ transaction history, including market trends, equipment price performance, supply and demand geography, and mix-adjusted price indices.

Each month, Ritchie Bros. publishes a free, high-level, downloadable report of these pricing trends, broken out by industry.

The October report, which includes a special highlight on winch tractor sales, is now available for download here: ritchiebros.com/market-trends-report. The full Market Trends module is available by paid subscription.

"As of this month, price levels across most categories in the US and Canada are at, or slightly above, 2019 trailing three-month levels," said Ken Calhoon, vice president, data analytics, Ritchie Bros. "For the October report, we've added a special feature on the large number of winch trucks sold in 2020—up 21% in the first half of the year compared to 2019. As part of this highlight, we've included an asset depreciation curve for the Kenworth T800 model winch truck. These depreciation curves are an excellent tool to help consignors better understand the optimal time to sell, based on the age and usage of the unit."

October 2020 Market Trends Summary Highlights

Equipment Category

USA

Canada

Used heavy equipment

Prices steady (± 1.5%) year over year

Prices steady (± 1.5%) year over year

Truck tractors

Prices steady (± 1.5%) year over year

Prices steady (± 1.5%) year over year

Vocational trucks

Prices steady (± 1.5%) year over year

Prices increased ~1% (± 1.5%) year over year

Lifting/material handling

Prices declined ~2% (± 1.5%) year over year

Prices increased ~1% (± 1.5%) year over year

Calhoon added that although others may try to repackage Ritchie Bros.’ data, only Ritchie Bros.  have the full data, the understanding, and the ability to derive deep insights. “Our team of data analysts and data scientists use machine learning and data visualization to create one of the best used equipment data products on the market," he said.

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