Medium earthmoving equipment prices are up 15 percent in the first quarter of 2021 when compared to the same period in 2020, according to Ritchie Bros. Market Trends. For large earthmoving equipment, the price jump is not as great with prices up 5 percent compared to last year.
The Market Trends report uses the RB Now! functionality in the company’s RB Market Trends tool, which provides a snapshot of Ritchie Bros. transactions over the past 30 days.
“March was a big month, with unprecedented demand resulting in strong pricing across nearly all equipment categories,” said Doug Olive, SVP for pricing, in a prepared statement. “As showcased in our new indexes, we continue to see positive pricing trends for earthmoving, transportation, and aerial equipment. Specifically, we saw a big year-over-year uptick in median pricing for excavators, dozers, articulated dump trucks, skid steers, truck tractors, and boom lifts last month.”
The company said it held a number of auctions in March that sold approximately 15,000 equipment items as well as 17,000 items via online events through IronPlanet, GovPlanet, and Marketplace-E.
The Market Trends application is an independent part of Ritchie Bros. Asset Solutions, 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.
Source: Ritchie Bros.
