The reports provide customers with market trends and other information
By Diego Flammini
Staff Writer
Farms.com
An ag and heavy equipment auction company is providing farmers and customers with valuable industry insight through a monthly report.
Ritchie Bros. released its first Used Equipment Market Trends Summary in April.
The free monthly report allows farmers, investors and analysts to view global pricing trends for heavy equipment, transport tucks, vocational trucks, lifting equipment and buyer demand by geographic region.
The company’s full Market Trends module, which is part of its overall Asset Solutions platform, is available for purchase.
That report includes data like real-time results from recent auctions, details on equipment performances based on make and model, and comparisons of similar pieces of machinery.
These datasets provide multiple benefits to users, said Ken Calhoon, vice president of data analytics with Ritchie Bros.
“Mix-adjusted price indexes give a sense of the overall effects of supply and demand on asset prices,” he told Farms.com. “For both sellers and buyers, understanding where we are in the pricing cycle and what it has looked like historically are very important in asset sale and purchase decision-making.”
The tool comes at a unique time in the ag sector.
With the COVID-19 pandemic effecting multiple segments of the industry, knowing how machinery is selling is important, Calhoon said.
“This sort of tool is especially important during this unprecedented time,” he said. “We are in uncharted territories right now and fast, accurate insights backed by a large number of Ritchie Bros transactions are vital to good decision making.”