Ritchie Bros sees ‘unprecedented’ demand

The online equipment auctioneer Ritchie Bros has reported that it is seeing “one of the strongest demand trends in years”.

The company said that with many countries across Europe easing Covid restrictions and construction productivity rising as a result, the demand for heavy machinery had risen “to unprecedented levels”.

With many OEMs also now facing long lead times for new equipment, the cumulative effect has been increased buyer activity at its online auctions

Ritchie Bros said, “The fact that auctions provide quick access to work-ready equipment and the company’s online Timed Auction system, which has been used exclusively in the EMEA region since March 2020, has made bidding easier and more convenient.”...Sign in to continue reading.