May report includes 2021 agricultural equipment sales trends:
tractor prices up 9% in Canada
VANCOUVER, BC, May 10, 2021 /CNW/ - With record online
demand, Ritchie Bros. continues to
see positive price performance in all its auctions and
marketplaces. The company's May 2021
Used Equipment Market Trends Summary report shows U.S. truck
tractor pricing up 24% year-over-year, while U.S. medium
earthmoving equipment pricing is up 19%, and U.S. aerial equipment
is up 14%.
The free report is now available for download at:
rbassetsolutions.com/market-trends-report.
"All of our price indexes are showing gains," said Doug Olive, Senior Vice President, Pricing,
Ritchie Bros. "With the large
quantity of ag equipment sold at this time of year we have added a
general agriculture and an agricultural tractor index with our May
report—both indexes are showing year over year inflation in the
high single digits. This echoes the pricing strength we are
experiencing in construction and transportation right now."
This month's Ritchie Bros. Used
Equipment Market Trends Summary report has a special focus on
agricultural equipment, including detailed breakdowns of tractor,
combine, header, sprayer, and grain truck/trailer sales. Spring is
a busy time for farm auctions. In fact, Ritchie Bros. recently conducted 71 farm
auctions in 30 days, generating CA$104+ million in gross
transaction value. These farm auctions attracted 160,000+ bidders
and 1.6+ million online pageviews—this unprecedented demand
resulted in strong pricing across almost every farm equipment
category.
Ritchie Bros.' Market Trends
application is an independent part of Ritchie Bros. Asset
Solutions (rbassetsolutions.com), a cloud-based asset
management and disposition system with a suite of tools and
services to help customers better manage, analyze, and sell their
assets. For more information about Market Trends, please email
dataproducts@ritchiebros.com.
Want to learn more? Ritchie
Bros. Canadian Industry Panels TODAY at 9 a.m. & 11
a.m. Pacific
On May 10,
2021, Ritchie Bros. will host
two industry panels discussing key issues impacting the Canadian
construction and agriculture industries, including supply/demand
metrics, macroeconomic issues, and more. These free one-hour online
discussion panels will feature guest speakers Craig Klemmer (Principal Agriculture Economist
for Farm Credit Canada); John
Schmeiser (CEO of Western Equipment Dealers Association);
and Joe Wrobel (2020 President of
the Canadian Construction Association); alongside Ritchie Bros. experts. Register for free online
at rbauction.com/blog.
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 solutions also includes
Ritchie Bros. Asset Solutions and
Rouse Services LLC, which together provides a complete end-to-end
asset management, data-driven intelligence and performance
benchmarking 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.
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SOURCE Ritchie Bros.