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Strong pricing continues at Ritchie Bros. according to latest Market Trends report

U.S. truck tractor price index up 23% year over year; medium earthmoving in the U.S. up 21%

 

VANCOUVER, B.C. (June 9, 2021) – May was another busy month for Ritchie Bros., with multiple record-breaking events and strong pricing across almost every single asset category. In fact, according to Ritchie Bros.' June Market Trends Report, U.S. truck tractor pricing is up 23% year over year (for the three months ending May 31), while medium earthmoving and vocational truck prices in the United States are up 21%. The company is seeing similar strength in the Canadian market, with medium earthmoving up 28% and vocational trucks up 23%, while truck tractor pricing is up 15%.

The free June report is now available for download at: rbassetsolutions.com/market-trends-report.

"2021 continues to be a seller's market, with positive pricing trends across all our indexes," said Doug Olive, Senior Vice President, Pricing, Ritchie Bros. "Our auctions and online marketplaces are driving unprecedented demand and strong prices for sellers. With a single Edmonton auction in May we attracted 1.8 million online equipment views and registered 28,700 bidders, surpassing our previous bidder record by 18 percent!"

With the June 2021 Market Trends Report, Ritchie Bros. has included a special focus on excavator sales, including an excavator index. In the United States alone, the company has sold more than 1,800 excavators in 2021 for US$111+ million.

Used Commercial Assets - Pricing Highlights

Price change (±1.5%) year-over-year for the 3 months ending May 31, 2021

Categories USA Canada

Large Earthmoving


  Increased ~ 6%


  Increased ~ 8%


Medium Earthmoving


  Increased ~ 21%


  Increased ~ 28%


Aerial


  Increased ~ 14%


  Increased ~ 18%


Truck Tractors


  Increased ~ 23%


  Increased ~ 15%


Vocational Trucks


  Increased ~ 21%


  Increased ~ 23%


Excavators


  Increased ~ 8%


  Increased ~ 11%


Agriculture


  Increased ~ 5%


  Increased ~ 10%

 

About Ritchie Bros.:

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance(R) equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media.

For more information, please contact:
Ian Malinski
Media Relations Manager
+1.778.331.5432
CorpComm@rbauction.com

For investor inquiries, please contact:
Sameer Rathod
Vice President, Investor Relations & Market Intelligence
+1.510.381.7584
srathod@ritchiebros.com