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. 

Cision View original content:http://www.prnewswire.com/news-releases/ritchie-bros-latest-market-trends-report-shows-slowly-climbing-prices-301151277.html

SOURCE Ritchie Bros.

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