Latest equipment auction analysis reveals plenty of market activity
The EquipmentWatch "2013 Winter Mega Auction Analysis" is a comprehensive look at the auction activity during February, a month when Ritchie Bros., Yoder & Frey, Iron Planet and Alex Lyon & Son all held massive heavy equipment auctions, often in close proximity of each other.
The auction activity, combined with Iron Planet’s online "Biggest Sale of the Year," accounted for the sale of 28,004 equipment lots with a total value of $358,568,667.
According to the analysis, Vancouver, British Columbia-based Ritchie Brothers claimed the highest average price per lot across the four auctioneers, with Pleasanton, Calif.-based Iron Planet taking a close second.
Beyond wheel loaders, which showed the most pricing variability, there was very close pricing parity among the auction houses in the three most popular types of heavy equipment. Those types include four-wheel-drive articulated wheel loaders, crawler-mounted excavators and skid steer loaders.
Auction result statistics from Last Bid, a database product from EquipmentWatch, were used in this analysis. The report aims to summarize auction activity into a useful tool to understand this unique part of the year, when there is a high level of activity. Future versions will provide year-over-year trending analysis.
The analysis is targeted to auctioneers, original equipment manufacturers, statisticians, equipment analysts and economists. It is one in a series of industry intelligence studies designed to establish benchmarks for the equipment auction marketplace.