May was another busy month for Ritchie Bros., with multiple record-breaking events and strong pricing across almost every single asset category.
In fact, according to Ritchie Bros.' June Market Trends Report, U.S. truck tractor pricing is up 23 percent year over year (for the three months ending May 31), while medium earthmoving and vocational truck prices in the United States are up 21 percent. The company is seeing similar strength in the Canadian market, with medium earthmoving up 28 percent and vocational trucks up 23 percent, while truck tractor pricing is up 15 percent.
"2021 continues to be a seller's market, with positive pricing trends across all our indexes," said Doug Olive, senior vice president, pricing, Ritchie Bros. "Our auctions and online marketplaces are driving unprecedented demand and strong prices for sellers. With a single Edmonton auction in May we attracted 1.8 million online equipment views and registered 28,700 bidders, surpassing our previous bidder record by 18 percent."
With the June 2021 Market Trends Report, Ritchie Bros. has included a special focus on excavator sales, including an excavator index. In the United States alone, the company has sold more than 1,800 excavators in 2021 for more than $111 million.
The free June report is now available for download at: rbassetsolutions.com/market-trends-report.
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