In its October market trends report, Ritchie Bros. reported that prices for most equipment categories, including used heavy equipment, truck tractors and vocational trucks remained steady or even increased year over year in October 2020 in both the U.S. and Canada. Prices for vocational trucks and lifting/material handling equipment increased by roughly 1% year over year in Canada, while vocational truck prices remained steady and lifting/material handling prices declined by 2% in the U.S.

“As of this month, price levels across most categories in the U.S. and Canada are at, or slightly above, 2019 trailing three-month levels,” Ken Calhoon, vice president of data analytics at Ritchie Bros., said “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.”

“Used equipment experts, sellers and buyers look to Ritchie Bros. transaction data as the industry gold standard,” Calhoon said. “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.”