With record online demand, Ritchie Bros. continues to see positive price performance in all its auctions and marketplaces. The company's May 2021 Used Equipment Market Trends Summary report shows U.S. truck tractor pricing up 24 percent year-over-year, while U.S. medium earthmoving equipment pricing is up 19 percent and U.S. aerial equipment is up 14 percent.
"All of our price indexes are showing gains," said Doug Olive, Senior Vice President, Pricing, Ritchie Bros. "With the large quantity of ag equipment sold at this time of year we have added a general agriculture and an agricultural tractor index with our May report—both indexes are showing year over year inflation in the high single digits. This echoes the pricing strength we are experiencing in construction and transportation right now."
This month's Ritchie Bros. Used Equipment Market Trends Summary report has a special focus on agricultural equipment, including detailed breakdowns of tractor, combine, header, sprayer, and grain truck/trailer sales. Spring is a busy time for farm auctions.
The free report is now available for download.
Ritchie Bros.' Market Trends application is an independent part of Ritchie Bros. Asset Solutions.