Ritchie Bros. Used Equipment Market Trends Summary Ritchie ...

Ritchie Bros. Used Equipment Market Trends Summary (US Edition)

May 2020

Ritchie Bros. Used Equipment Market Trends Summary

(North America Edition)

October 2020

2 Ritchie Bros. Used Equipment Market Trends Summary (North America Edition) | October 2020

Copyright© 2020 Ritchie Bros. All rights reserved. Any redistribution or reproduction in whole or in part or in any form is strictly prohibited.

Ritchie Bros. Mix Adjusted Used Price IndicesRitchie Bros. uses a machine learning-based method to calculate a used price index:

To isolate and measure the change in supply / demand dynamics on prices over time, we use various machine learning techniques to correct for equipment mix such as make, model, age, as well as well as 100+ other features.

Indices are validated by correlating with key industry metrics:

We validate our used pricing indices by correlating them against well-followed industry metrics such as sales or orders.

▸ 1.8 million transactions

▸ Data from 2005 onwards

▸ Adjusting for 100+ features

▸ Now includes Canadian data



Summary

As of this month, price levels across most categories in the US and Canada are at, or slightly above, 2019 trailing three-month levels. Canadian lifting/material handling and vocational trucks are showing ~1% inflation vs 2019, US lifting/material handling shows 2% deflation vs 2019, and the rest are steady. The overall improvement is due to both improving prices in 2020 and deflating prices this time last year.

This month’s report provides additional insights into the Canadian winch truck market, based on data available from Ritchie Bros. Market Trends (page 4).

This research includes summary information taken from the RB Market Trends report. RB Market Trends is a premium data product that allows users like you to access over 10 years of Ritchie Bros. transaction level data providing:

▸ Real time insights - See results from our most recent auctions

▸ Equipment flows - Draw insights into asset flows across state and national boundaries

▸ Make-model details - Determine residual pricing of assets at make-model level of detail for auction

▸ Like-for-like comparisons - Compare residual value for like-for-like assets

Subscribe to RB Market Trends and access this data and more in-depth detail by country, date range, asset category, brand, model, as well as median asset age, usage and other key data points.

For access to the full report contact [email protected]

About this Research

mailto:dataproducts%40ritchiebros.com?subject=Ritchie%20Bros.%20Used%20Equipment%20Market%20Trends%20Summary%20



Ritchie Bros. Market Trends Insight: Winch Trucks (Canada)

Canada Sales Volume and Price Trends

Market Trends by Category: Winch Trucks Sold in Canada (2019 – June 30, 2020)

Diving into all brands of winch trucks, model year 2000 and newer, sold in Canada during 2019 and H1 2020, we learn:▸ Over 460 winch trucks sold with a

valuation of over $36 million CAD ▸ Median price is trending down slightly

after starting the year higher than Q1 2019

▸ Volumes increased over 21% during H1 2020 versus the same period 2019

With RB Market Trends, subscribers can view sales data by brand and model. ▸ The top three winch truck brands sold by Ritchie Bros. in Canada – Kenworth, Peterbilt and Western Star – make up

97% of the assets sold during 2019-H1 2020, with Kenworth models representing 70%▸ RB Market Trends shows price and price distribution data for the top selling models. The 208 Kenworth T800

models sold in Canada for a median price of $60,000 CAD

Market Trends by Equipment Category

Total Sales Total Assets Sold

© 2020 Mapbox © OpenStreetMap

Assets Sale Location(Brand: All, Make Model: All, Buyers Geo: All)

Assets Sold

© 2020 Mapbox © OpenStreetMap

Buyers Location(Brand: All, Make Model: All, Assets Sale Geo: All)

Assets Bought

Select CategoryWINCH TRACTORS: Winch Tractors

Set Year of Manufacture2000 to 2020and Null values

Select Sale RegionCanada

Select CurrencyCAD

Set Sale Date RangeJanuary 2019 to June 2020and Null values

2019 2020

Q1 Q2 Q3 Q4 Q1 Q2

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PETERBILT

WESTERN STAR

FREIGHTLINER

Top Selling Brands(Assets Sale Geo: All, Buyers Geo: All)

KENWORTHT800

KENWORTHC500

PETERBILT367

WESTERNSTAR 4900SA

KENWORTHW900

Top Selling Make Models(Brand: All, Assets Sale Geo: All, Buyers Geo: All)

Canada Sales Volume and Price Trends

Our October 2020 report highlights insights available through Ritchie Bros. Market Trends data, with a focus on winch truck sales in Canada. Winch trucks are used across industries, and particularly popular in energy and oil & gas applications.



Ritchie Bros. Market Trends Insight: Winch Trucks (Canada) Cont’dCanada Market Trends by Make and Model: Kenworth T800

Canada Sales Volume and Price Trends: Kenworth T800

Another advantage of RB Market Trends is the insight into data by specific make and model. This would be especially valuable when determining opportunities for your asset or fleet. Here we look at Kenworth T800 winch trucks to assess the median price trend by age and usage.▸ During 2019-H1 2020, over 200 Kenworth T800 winch truck, with an average age of 9 years and 518K KMs,

sold for a median price of $62,500 CAD ▸ Focusing on asset age, the median market price changed 41% for 2012-2016 Kenworth T800s during

2019-H1 2020▸ With a utilization lens, we see price stabilize for assets between 400K and 900K KMs

▸ Overall, market pricing for Kenworth T800s has remained consistent the past 12 months across Canada, ranging between $57K and $64K



Heavy Equipment & Truck Tractors

Top equipment types in Heavy Equipment include: excavators, dozers, loaders, articulated dump trucks, compactors, motor graders & loader backhoes

United StatesPrices stable for used truck tractors

In our estimation, for the 3 months ending September, prices for used truck tractors were steady (± 1.5%) compared to the same time frame last year.

United StatesPrices stable for used heavy equipment

In our estimation, for the 3 months ending September, prices for used heavy equipment were steady (± 1.5%) compared to the same time frame last year.

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RB Used Price Index



Vocational Trucks & Lifting/Material Handling

United StatesPrices stable for used vocational trucks

In our estimation, for the 3 months ending September, prices for used vocational trucks were steady (± 1.5%) compared to the same time frame last year.

Top equipment types included in Vocational Trucks: dump trucks, flatbed trucks, boom trucks, water & tank trucks, van & reefer trucks, mechanics trucks & concrete mixer trucks

Top equipment types included in Lifting/Material Handling: cranes, boom & scissor lifts, telescopic handlers & forklifts

United StatesPrices show further weakness for used lifting/material handling equipment

In our estimation, for the 3 months ending September, prices for used lifting/material handling equipment declined -2% (± 1.5%) compared to the same time frame last year.

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Heavy Equipment & Truck Tractors

Top equipment types in Heavy Equipment include: excavators, dozers, loaders, articulated dump trucks, compactors, motor graders & loader backhoes

CanadaPrices stable for used truck tractors

In our estimation, for the 3 months ending September, prices for used truck tractors were steady (± 1.5%) compared to the same time frame last year.

CanadaPrices stable for used heavy equipment

In our estimation, for the 3 months ending September, prices for used heavy equipment were steady (± 1.5%) compared to the same time frame last year.

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Vocational Trucks & Lifting/Material Handling

CanadaPrices show strenghening for used vocational trucks

In our estimation, for the 3 months ending September, prices for used vocational trucks increased 1% (± 1.5%) compared to the same time frame last year.

Top equipment types included in Vocational Trucks: dump trucks, flatbed trucks, boom trucks, water & tank trucks, van & reefer trucks, mechanics trucks & concrete mixer trucks

CanadaPrices show strengthening for used lifting/material handling equipment

In our estimation, for the 3 months ending September, prices for used lifting/material handling equipment increased 1% (± 1.5%) compared to the same time frame last year.

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Top equipment types included in Lifting/Material Handling: cranes, boom & scissor lifts, telescopic handlers & forklifts



Seller / buyer maps for the 3 months ending September 30, 20201

Top 5 buying Countries2:

▸ Mexico

▸ Korea

▸ Guatemala

▸ Honduras

▸ Vietnam

Seller Map - North America

Buyer Map - North America

Buyer Map - World Wide

1) Based on number of transactions 2) Outside United States and Canada

Top 5 buying regions:

▸ Texas, USA

▸ California, USA

▸ Florida, USA

▸ Illinois, USA

▸ Pennsylvania, USA

Top 5 selling regions:

▸ Texas, USA

▸ Ontario, Canada

▸ Alberta, Canada

▸ California, USA

▸ South Carolina, USA

Ritchie Bros. Used Equipment Market Trends Summary (North America Edition) | October 2020


11

About Ritchie Bros.

Unreserved live auctions

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▸ 350+ live unreserved auctions a year

▸ Certainty of sale

Online classified ad service

▸ Fastest growing online equipment listing service with over 400,000 listings

Inventory, data insights & disposition platform

▸ Inventory management system

▸ Market trends and pricing tools

▸ Maximize value of equipment through choice of disposition

The global standard for asset appraisals

▸ Industry leading data and trusted asset valuation expertise▸ Standard and USPAP Compliant Appraisals▸ Helping you make informed decisions

Weekly online auctions

▸ Regular weekly auctions

▸ Convenience of selling where it sits

▸ Buyer confidence from IronClad Assurance® equipment condition certification

Reserved online marketplace

▸ Control over your selling price & timing of sale

▸ Convenience of selling where it sits

▸ Buyer confidence from IronClad Assurance® equipment condition certification

Ritchie Bros. connects equipment buyers and sellers through a global network of auction facilities and online sales channels. Ritchie Bros. Auctioneers and IronPlanet bring you multi-channel, trusted solutions that are transparent, fair and convenient.

Ritchie Bros. is MORE THAN AUCTIONS:

For more information contact:[email protected]

Subscribe for free: rbassetsolutions.com/market-trends-report

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