Aerial Lift Auction Values at Ritchie Brothers Showing Strength

One way to gauge how the market is doing is to follow the auction trends. As rental rates and revenue increase, industry giants are now modernizing their fleets. Buyers, such as independent rental companies and contractors who lacked capital or confidence in the market to purchase equipment, are now coming out in droves at industry auctions, showing a renewed sense of confidence in the market over the last several years.

Today at Ritchie Bros.’ massive Orlando auction, aerial work platforms were center stage. The week-long event is projected to be the largest in the organization’s history. The auctioneer said it could see sales exceeding $200 million in equipment during the week and attract as many as 12,000 buyers from around the globe.

On the event’s first day, hundreds of Genie, JLG, Snorkel, and other makes of boom lifts were auctioned off. Twelve-year-old JLG Model 80HXs pulled in $20,000 on average, and similar vintage 120SXJs were enjoying $43,000 averages.

One machine of note was a 2007 JLG 660SJ that fetched a whopping $60,000. Loads of 2003 JLG 600S 4X4s are averaging $22,500, and it is interesting that a 2004 JLG E600JP sold for an impressive $36,000.

On the Genie side, 2008 Model Z45/22s averaged a solid $32,500. The sale of the day was a 2007 Genie S125 4X4 that sold for an over the top $135,000.

The demand for big booms continues to grow, and confidence in these products is looking up.