Comparing year-over-year figures for the three months ending Nov. 30, the B.C.-based global asset management and disposition company says prices for used medium earthmoving equipment and vocational trucks were up 32 per cent across Canada while tractor prices rose 27 per cent, aerial equipment jumped 25 per cent; and large earthmoving equipment increased by 11 per cent.
Across the U.S. the price to purchased used medium earthmoving equipment and vocational trucks spiked more than 40 per cent.
According to Ritchie Bros. latest report, competition for used equipment and trucks has never been stronger, with supply chains disrupted and online demand driving record pricing for consignors. In early December the company reported more than 8,500 online bidders from 65 countries to compete for just 3,400+ items selling in Toronto, generating more than $44 million in gross transaction value and setting a new December record for the site.
“We are seeing record equipment and truck pricing right now across all our auctions and marketplaces,” said Ritchie Bros. regional sales manager Ryan Pottruff.
“We’ve had an incredible year in Ontario, with multiple record-breaking site auctions and significant growth in the region for our online Marketplace-E channel, which provides sellers more control over the selling price and process for premier assets.”
Reference:
O. C. N. staff writer, (2022, January 10). OCN staff writer. Ontario construction report. Retrieved July 18, 2022, from https://ontarioconstructionreport.com/used-construction-equipment-prices-skyrocket-across-canada-u-s/
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