Heavy equipment prices up 5% year over year
In a year of uncertainty, with a health and economic crisis impacting most of the world, Ritchie Bros. made the shift to 100% online bidding in 2020, showcasing our investment in technology while driving record-breaking demand and strong pricing for equipment and trucks.
In fact, our March 2021 Used Equipment Market Trends summary report shows heavy equipment used in the construction sector is up five percent in the U.S. and four percent in Canada, compared to the same time period last year. The March 2021 report, which is available for download now highlights equipment categories that performed particularly well last, including excavators, crawler tractors, and multi-terrain loaders.
Used Commercial Assets - Pricing Highlights
Price change (±1.5%) year-over-year for the 3 months ending February 28, 2021
|Categories ||USA ||Canada |
Increased ~ 5%
Increased ~ 4%
Lift & Material Handling Equipment
Increased ~ 9%
Increased ~ 4%
Increased ~ 15%
Increased ~ 5%
Increased ~ 10%
Increased ~ 6%
Excavators sales in 2020 – similar volumes with an uptick in pricing
While we sold a similar number of units between 2020 and 2019, median quarterly pricing for excavators in the United States was stronger in Q2 through Q4 (April – Dec) 2020.
Early 2021 highlights include a 2016 Caterpillar 374FL that sold for US$460,000 in our six-day Orlando, FL auction; a 2018 Cat 325F that sold for €237,500 (US$286,259) in Moerdijk, NLD; and a 2018 John Deere 380G LC that sold in Toronto, ON for CA$315,000 (US$249,354).
Crawler tractor sales in 2020 – fewer units with an uptick in pricing
While we sold slightly fewer units in 2020 vs. 2019, we achieved stronger median quarterly pricing in Q2 through Q4 2020 for crawler tractors.
Early 2021 highlights include a 2015 John Deere 1050K that sold in Orlando, FL for US$325,000; a 2013 Cat D8T that sold for US$290,000 in Houston, TX; and a 2014 Komatsu D155AX-7 that sold in Edmonton, AB for CA$300,000 (US$238,110).
Multi terrain loader sales in 2020 – more volume & stronger prices
Multi terrain loaders were a very hot item in 2020, as we sold more units for stronger pricing year over year.
Early 2021 highlights include a 2016 Cat 287D XPS two-speed high-flow multi terrain loader that sold for US$50,000 in Orlando, FL; a 2015 Cat 257D two-speed that sold in Edmonton, AB for CA$41,000 (US$32,542); and a 2011 Bobcat T770 two-speed that sold for US$29,000 in our Rocky Mountain Regional Auction.
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