When COVID-19 lockdowns started in North America in mid-March, most construction work kept going, and so did Ritchie Bros.
The company has seen record demand in 2020 and its latest Market Trends Summary Report, which digs deep into industry pricing trends, discusses one of Ritchie Bros. most popular equipment categories: excavators.
"In a year of volatility, excavator pricing has remained relatively stable," said Doug Olive, senior vice president, pricing, of Ritchie Bros. "The excavator's cross-industry applications help mitigate massive price fluctuations. We also believe that the uptick in housing starts throughout the United States has had a positive impact on excavator pricing in 2020."
In the last three years (Jan. 2017 to Sep. 2020) Ritchie Bros. has sold more than 15,000 excavators in the United States alone, for more than $850 million. The top selling brands by volume are Caterpillar, Komatsu and John Deere, with the top models sold all being Caterpillar: 336EL, 320EL and 320CL.
On average, approximately 27 percent of all excavators sold in the United States during this time frame were sold to local state buyers, while 57 percent was sold to out of state U.S. buyers, and 16 percent sold to international buyers.
To learn more about excavator sales at Ritchie Bros., download the December version of the Ritchie Bros. Used Equipment Market Trends Summary at rbassetsolutions.com/market-trends-report. The December report also includes mix adjusted used pricing indices, including an updated comparison chart for the U.S. Ritchie Bros. Heavy Truck Price Index and U.S. Heavy Duty Truck shipments, plus a feature section on small construction highlights.
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, email firstname.lastname@example.org.