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Used equipment remains at a premium

By |  July 26, 2021
Photo: iStock.com/alacatr

The used equipment market has been a hot one in 2021 with various challenges present in the supply chain for new equipment. Photo: iStock.com/alacatr

Demand for used equipment remains high, as evidenced by a Ritchie Bros. auction this month based out of its site in Fort Worth, Texas.

According to Ritchie Bros. its two-day online auction offered $50 million in assets. Ninety percent of the assets sold to U.S. buyers, Ritchie Bros. says, including 40 percent to Texans. The remaining 10 percent was sold to buyers as far away as Egypt, Spain, India and New Zealand.

More than 3,700 items were available for auction, Ritchie Bros. says.

“We spoke to a lot of happy consignors after the auction, as we continue to drive record-breaking demand and strong returns,” says Chuck Roberson, regional sales manager at Ritchie Bros. “For customers unable to get what they needed in this week’s auction, we have a ton more upcoming buying opportunities, including two auctions in Houston next month and our next Fort Worth sale in September, where we will welcome back customers for auction day.”

“The pandemic has made online buying more common, but customers have told us they miss the camaraderie and networking of being there in person,” Roberson says. “Our auctions have always been about more than equipment – it’s also an industry event for many of our customers.”

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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