With billions of dollars of equipment transacting via multiple sales channels each year, Ritchie Bros. has the data and in-house expertise to provide insight into industry trends. The company shares these insights via its Market Trends module within its Ritchie Bros. Asset Solutions suite of tools.
Market Trends allows 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, supply and demand geography, and mix-adjusted price indexes, according to the company.
Each month, Ritchie Bros. publishes a free, high-level, downloadable report of these pricing trends, broken out by industry. The October report, which includes a special highlight on winch tractor sales, is now available for download here: ritchiebros.com/market-trends-report. The full Market Trends module is available by paid subscription.
"As of this month, price levels across most categories in the U.S. and Canada are at, or slightly above, 2019 trailing three-month levels," said Ken Calhoon, vice president, data analytics, Ritchie Bros.
"For the October report, we've added a special feature on the large number of winch trucks sold in 2020 — up 21 percent in the first half of the year compared to 2019. As part of this highlight, we've included an asset depreciation curve for the Kenworth T800 model winch truck. These depreciation curves are an excellent tool to help consignors better understand the optimal time to sell, based on the age and usage of the unit.
"Used equipment experts, sellers, and buyers look to Ritchie Bros. transaction data as the industry gold standard," continued Calhoon. "Our team of data analysts and data scientists use machine learning and data visualization to create one of the best used equipment data products on the market."
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 dataproducts@ritchiebros.com.
