ORLANDO, FLORIDA (January 30, 2020) – With less than three weeks until Ritchie Bros.' massive annual auction in Orlando, FL, consignments are steadily rolling in and traffic to the company's website is building rapidly. Bidders from 105 countries have already completed nearly 300,000 searches for equipment selling in Orlando, while overall traffic to Ritchie Bros.' Orlando web pages is up 48 percent year over year.
"Bidder registrations and web traffic are both up from the record levels we saw for Orlando last year, which bodes very well for our consignors," said Jake Lawson, Senior Vice President, Sales, Ritchie Bros. "We have equipment being sold for owners across the United States—11,000 items and counting—but there's still room. It's not too late to get your equipment in too. Contact us today, as the more time we have to market your gear to the world, the better. We have a number of different contract options, including the option of selling virtually without transporting assets to our yard."
Over the past few years Ritchie Bros. has increased its investment on data analytics to improve its understanding of supply and demand dynamics in the used equipment market.
"Our machine learning-based mix adjusted price indices have shown stable pricing in Q4 in used U.S. construction equipment," said Ken Calhoon, Vice President, Data Analytics, Ritchie Bros. "Additionally, the strength we are seeing in our proprietary buyer demand index and early bidder registration numbers—up 37% from last year—indicates that demand remains robust for construction equipment. This is in line with the growth we are seeing in U.S. public construction, up 12.4% YoY at the last reading, and the strongest growth since 2007."
Ritchie Bros. Orlando auction will be held over six days (February 17 – 22), with equipment from more than 800 owners, including Ring Power, Kelly Tractor, Dozier Crane, and more. Equipment highlights include 580+ excavators, 290+ skid steers, 250+ loaders, 210+ dozers, 120+ articulated dump trucks, 85+ cranes, 310+ aerial work platforms, 560+ truck tractors, 50+ farm tractors, and more. Top manufacturers include Caterpillar, Peterbilt, Freightliner, Kenworth, and John Deere. All items will be sold without minimum bids or reserve prices.
Bids in the auction can be made via PriorityBid days ahead of the auction, online through Ritchie Bros. mobile application, in person at the auction site, or online in real time at rbauction.com. For more information about the Orlando auction, including detailed equipment information and auction schedule visit rbauction.com/Orlando2020 or call 1.866.559.9291.
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, acontrolled 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 RB 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.
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