Ritchie Bros. Reports Rise in Prices for Used Equipment Across Categories in 2020



In its latest used equipment market trends report, Ritchie Bros. said that it drew record buyer demand in 2020 as its auctions were held 100% online. Ritchie Bros. noted that the increased demand resulted in price inflation across all equipment categories. For example, U.S. truck tractor prices increased 8% compared with the same time period (three months ending December) in 2019.

The December 2020 market trends summary includes a deep dive into multi-terrain loader sales. According to Ritchie Bros., in the United States, 2020 was a particularly strong year for multi-terrain loaders. In fact, in the first three quarters of 2020 (January to September), Ritchie Bros. sold more than 2,750 multi-terrain loaders for $64 million, which was just shy of total multi-terrain loader sales for 2019.

“Used across industry, the versatile multi-terrain loader was in high demand in 2020, with a record number of units selling through our numerous sales channels,” Doug Olive, senior vice president of pricing for Ritchie Bros., said. “There are a number of factors that have contributed to this record-breaking year for multi-terrain loader sales, including an uptick in residential construction, rental company fleet renewals, landscaping projects, seasonal work and more. In the past five years, Ritchie Bros. has sold 14,000 multi-terrain loaders for US$313 million.”

Used Commercial Assets – December 2020 Summary Highlights
(for three months ending December 2020)
Equipment CategoryUSACanada
Heavy equipmentPrices increased 2% (± 1.5%) year over yearPrices increased 2% (± 1.5%) year over year
Truck tractorsPrices increased 8% (± 1.5%) year over yearPrices increased 2% (± 1.5%) year over year
Vocational trucksPrices increased 4% (± 1.5%) year over yearPrices increased 4% (± 1.5%) year over year
Lifting/material handlingPrices increased 1% (± 1.5%) year over yearPrices increased 2% (± 1.5%) year over year

 

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