Download the October report to learn more about
trends at Ritchie Bros.
VANCOUVER, BC, Oct. 13, 2020 /CNW/ - 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.