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Ritchie Brothers 2019 Grove

Ritchie Brothers Market Reports Shows Steady 2020 Used Equipment Pricing

Oct. 16, 2020
The latest data from Ritchie Bros. Asset Solutions shows steady prices used equipment pricing in 2020, according to the company’s asset modules.

The latest data from Ritchie Bros. Asset Solutions shows steady prices used equipment pricing in 2020, according to the company’s asset modules.

"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 percent 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."

Used heavy equipment prices, truck tractors, and vocational trucks were steady, up or down about 1.5 percent year over year in the United States and Canada. However, lifting and material handling prices declined about 2 percent in the U.S., while increasing about 1 percent in Canada.

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.

“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 [email protected].