Count on us to help you capitalize on price increases across the board.
With buyer demand up and prices showing gains year over year, equipment sellers are catching the momentum from 2020 and reaping the rewards with strong returns. Last year, we pivoted to online only auctions due to COVID-19 and buyers responded in droves. We saw record-breaking bidder participation, strong buyer demand, and outstanding results for sellers. That momentum is still going this year.
Whether you’re a first-time seller at Ritchie Bros. or a regular consignor, we’re ready to help you sell now. With our multiple, flexible sales channels, convenient services, and our dedicated team here for you, it’s never been easier or more advantageous to capitalize on current trends.
Here’s five reasons you should capitalize on the market and sell your used commercial assets.
1. Pricing in multiple sectors is up as high as 8%
It’s impossible to say where prices will be further down the road in 2021. But we do know where prices are right now and they’re up year over year. Pricing for heavy equipment, vocational trucks, truck tractors and lifting equipment are up between 1% and 8% depending on the sector. Pricing insights like these come straight from our free monthly Market Trends summary report, which gives you a deep dive on global pricing trends with data pulled from our industry-leading rb Asset Solutions platform.
2. Major upcoming seller opportunities
By shifting to 100% online auctions we have removed the “what ifs” from delivering world class auctions. Our biggest event of the year, Orlando in February, will go ahead in an online only format on Feb 15-20 with buyers from all over the world attending virtually. But if you have to sell sooner, we have weekly online events at IronPlanet, or an everyday online marketplace. We are providing equipment disposition certainty in uncertain times.
3. Buyers have moved online; auction participation is surging
Our online auctions in 2020 shattered records for bidder participation, as well as provided consistently strong buyer demand to push up selling prices. Our buyers have delivered a message to us: they want the safety and convenience of online bidding. We’re seeing surging online demand with website traffic up 35%, and bidder registration up 71% last year.
4. PriorityBid pushes competition
By expanding the PriorityBid window, allowing customers to bid online for your assets weeks before the auction dates, you are reaching every potential buyer. Last year we received over 300,000 PriorityBids. More buyers and more ways to bid means better results for you!
5. Capitalize on billions in online bidder limits
Our online buyers are coming loaded with purchasing power – $50+ billion in pre-approved bidding limits. Motivated bidders will come ready to buy during the PriorityBid window or on auction day.
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