Used equipment prices continue to decline, but show signs of moderation
Ritchie Bros. is sharing its insight via its Market Trends module within its Ritchie Bros. Asset Solutions suite of tools, allowing customers, investors, and analysts to better understand the strength of an asset class through in-depth analysis of Ritchie Bros. transaction history, including market trends, equipment price performance, asset valuation curves, and mix-adjusted price indexes.
"The rate of decline in used equipment prices shows signs of moderation, though mix-adjusted values continue to be lower than the same time period last year," said Ken Calhoon, Vice President, Data Analytics, Ritchie Bros. "We are seeing relative price strength across all the geographies Ritchie Bros. operates in as buyers have quickly adopted fully-online purchasing. In particular, we are seeing steady improvement in values in both the United States and Canada with particularly strong buyer participation in North America from Texas, California, Alberta, and Mexico and internationally from Asia and South America."
The Market Trends application is an independent part of the suite of services within, which is an 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.
Each month, Ritchie Bros. publishes a free downloadable report of pricing trends, broken out by industry. The June report is now available for download here.