VANCOUVER, B.C. (November 16, 2021) – Ritchie Bros.' November Market Trends Report continues to show positive pricing trends across all its equipment indexes, with medium earthmoving equipment prices up 36% in the United States, while truck tractors and vocational trucks are up 45% and 34% respectively (for the three months ending October 31, 2021).

With this month's report, Ritchie Bros. has included a special focus on earthmoving equipment sales in the United States and Canada. According to Ritchie Bros. price indexes, wheel loader pricing is up 13% in the United States, while dozer pricing is up 10%. The free November report is available for download at: rbassetsolutions.com/market-trends-report.

"Supply chain issues continue to disrupt the equipment market, resulting in volume declines and older assets with higher usage coming to market in 2021," said Doug Olive, Senior Vice President (Pricing), Ritchie Bros. "This tightening supply combined with the unprecedented demand we are driving through our numerous marketplaces is resulting in strong pricing across nearly all asset categories, including dirt moving equipment like dozers, loaders, and articulated dump trucks."

Doug Rusch, Managing Director of Rouse Sales, added, "We continue to observe strong used equipment prices, with retail values rising a further 2% in October. Coinciding with this rise we are also seeing a lingering slowdown in transaction volumes, as ongoing supply chain issues continue to drive cautious fleet management decisions. Retail values now stand 14% higher than in January 2021."

Used Commercial Assets - Pricing Highlights

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

Categories	USA	Canada
Large Earthmoving	Increased ~ 11%	Increased ~ 9%
Medium Earthmoving	Increased ~ 36%	Increased ~ 30%
Aerial	Increased ~ 33%	Increased ~ 21%
Truck Tractors	Increased ~ 45%	Increased ~ 23%
Vocational Trucks	Increased ~ 34%	Increased ~ 27%
Loaders	Increased ~ 13%	Increased ~ 9%
Dozers	Increased ~ 10%	Not Available

 

Ritchie Bros.' Market Trends application is an independent part of Ritchie Bros. Asset Solutions (rbassetsolutions.com), a cloud-based asset management and disposition system with a suite of tools and services to help customers better manage, analyze, and sell their assets. For more information about Market Trends, please email dataproducts@ritchiebros.com.

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