Ritchie Bros. Reports Continued Strong Pricing Across Equipment Categories

JUN 10, 2021 - 6:36 am

Ritchie Bros. reported strong pricing across almost every asset category in May. In fact, according to Ritchie Bros.’ June Market Trends Report, U.S. truck tractor pricing was up 23% year over year (for the three months ending May 31), while medium earthmoving and vocational truck prices in the United States were up 21%. The company is seeing similar strength in the Canadian market, with medium earthmoving equipment up 28% and vocational trucks up 23%, while truck tractor pricing is up 15%.

“2021 continues to be a seller’s market, with positive pricing trends across all our indexes,” Doug Olive, senior vice president of pricing at Ritchie Bros., said. “Our auctions and online marketplaces are driving unprecedented demand and strong prices for sellers. With a single Edmonton auction in May, we attracted 1.8 million online equipment views and registered 28,700 bidders, surpassing our previous bidder record by 18%”

With the June 2021 Market Trends Report, Ritchie Bros. included a special focus on excavator sales, including an excavator index. In the United States alone, the company has sold more than 1,800 excavators in 2021 for more than $111 million.

Used Commercial Assets – Pricing Highlights Price change (±1.5%) year over year for the three months ending May 31, 2021
Categories	U.S.			CANADA
Large Earthmoving	Δ	Increased ~	6%	Δ	Increased ~	8%
Medium Earthmoving	Δ	Increased ~	21%	Δ	Increased ~	28%
Aerial	Δ	Increased ~	14%	Δ	Increased ~	18%
Truck Tractors	Δ	Increased ~	23%	Δ	Increased ~	15%
Vocational Trucks	Δ	Increased ~	21%	Δ	Increased ~	23%
Excavators	Δ	Increased ~	8%	Δ	Increased ~	11%
Agriculture	Δ	Increased ~	5%	Δ	Increased ~	10%