With less than three weeks until Ritchie Bros.’ massive annual auction in Orlando, Florida, consignments are steadily rolling in and traffic to the company’s website is building rapidly.
Bidders from 105 countries have already completed nearly 300,000 searches for equipment selling in Orlando, while overall traffic to Ritchie Bros.’ Orlando web pages is up 48% year over year.
“Bidder registrations and web traffic are both up from the record levels we saw for Orlando last year, which bodes very well for our consignors,” said Jake Lawson, senior vice president, sales, Ritchie Bros. “We have equipment being sold for owners across the United States—11,000 items and counting—but there’s still room. It’s not too late to get your equipment in too. Contact us today, as the more time we have to market your gear to the world, the better. We have a number of different contract options, including the option of selling virtually without transporting assets to our yard.”
Over the past few years, Ritchie Bros. has increased its investment on data analytics to improve its understanding of supply and demand dynamics in the used equipment market.
“Our machine learning-based mix adjusted price indices have shown stable pricing in Q4 in used U.S. construction equipment,” said Ken Calhoon, vice president, data analytics, Ritchie Bros. “Additionally, the strength we are seeing in our proprietary buyer demand index and early bidder registration numbers—up 37% from last year—indicates that demand remains robust for construction equipment. This is in line with the growth we are seeing in U.S. public construction, up 12.4% Y year over year the last reading, and the strongest growth since 2007.”
Ritchie Bros. Orlando auction will be held over six days (Feb. 17 – 22), with equipment from more than 800 owners, including Ring Power, Kelly Tractor, Dozier Crane, and more. Equipment highlights include 120+ articulated dump trucks, 85+ cranes, 310+ aerial work platforms, 560+ truck tractors, and more. All items will be sold without minimum bids or reserve prices.
Bids in the auction can be made via PriorityBid days ahead of the auction, online through Ritchie Bros. mobile application, in person at the auction site, or online in real time at rbauction.com. For more information about the Orlando auction, including detailed equipment information and auction schedule, visit rbauction.com/Orlando2020.
For more information about Ritchie Bros., visit RitchieBros.com.