Ritchie Bros. latest Market Trends report shows slowly climbing prices

Rhea-AI Summary

Ritchie Bros. has released its October Market Trends report, highlighting equipment sales trends and pricing data. The report reveals that prices across most categories in the US and Canada are stable, with significant details on winch tractor sales, which increased by 21% in the first half of 2020 compared to 2019. The October report also includes an asset depreciation curve for the Kenworth T800 winch truck. Furthermore, it emphasizes that used heavy equipment prices remain steady at ±1.5% year over year in both countries. For full insights, the detailed report is available for download.

Positive

• Winch tractor sales increased by 21% in H1 2020 compared to 2019.
• Prices for used heavy equipment are stable (±1.5%) year over year in the US and Canada.

Negative

• Prices for lifting/material handling equipment declined by ~2% year over year in the US.

Download the October report to learn more about trends at Ritchie Bros.

VANCOUVER, BC, Oct. 13, 2020 /PRNewswire/ - With billions of dollars of equipment transacting via multiple sales channels each year, Ritchie Bros. has the data and in-house expertise to provide unmatched insight into industry trends. The company shares these insights via its Market Trends module within its Ritchie Bros. Asset Solutions suite of tools. Market Trends allows customers, investors, and analysts to 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 indexes.

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

"Used equipment experts, sellers, and buyers look to Ritchie Bros. transaction data as the industry gold standard," continued Mr. Calhoon "While others may try to scrape and repackage our data, only we have the full dataset, 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."

The Market Trends application is an independent part of the suite of services within Ritchie Bros. Asset Solutions (rbassetsolutions.com), which is a complete end-to-end asset management and disposition system. This cloud-based SaaS solution brings together a suite of tools and services to help customers better manage, analyze, and sell their assets. From any internet-enabled device, customers are able to access a complete inventory management system, data analytics and dashboards, branded e-commerce sites, and multiple external sales channels.

For more information about Market Trends, please email dataproducts@ritchiebros.com.

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

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SOURCE Ritchie Bros.

FAQ

What does the October 2020 Market Trends report from Ritchie Bros. reveal?

The report shows stable prices for used heavy equipment and highlights a 21% increase in winch tractor sales compared to 2019.

How have heavy equipment prices trended in the US and Canada according to RBA?

Prices for used heavy equipment have remained steady, with a ±1.5% variation year over year in both countries.

What was notable about winch truck sales in the Ritchie Bros. October report?

The report highlights a 21% increase in winch truck sales in the first half of 2020 compared to 2019.

Where can I find the Ritchie Bros. October Market Trends report?

The October Market Trends report is available for free download on the Ritchie Bros. website.

What is the condition of lifting/material handling equipment prices according to Ritchie Bros.?

Prices for lifting/material handling equipment have declined by approximately 2% year over year in the US.