I went to the Ritchie Bros. auction in Los Angeles today. The last one I went to in LA was about 6 months ago. I only got to stay for a couple of hours because the guy I went with got a call for an emergency job and we had to leave. What I noticed while I was there: About 50% more equipment than last time Prices were about 30 to 40% lower than last time A lot of equipment was bought for overseas They had a bunch of D9s - hardly any last time Skidsteers and backhoes were going for real cheap The parking lot was full - not near as full last time Just wished I had more time. I am definitely going to the next one. I don't think prices have bottomed out yet. It could be a while. There are some good deals out there for those who can afford it in this downturn.
As for a lot of equipment being bought for overseas. This has been common in the auction business for quite some time. It is cheaper to purchase the machines here, take them apart, ship them to the destination country, and reassmble them, than it is to purchase the machine in that country. One large company that i worked for had an auction of 80-90 pieces a few years ago. It was a fleet upgrade, and excess equipment sale as a large government job we had was finished. All the pieces were owned by that company. We had a lot of buyers from other countries. The UAE was by far the biggest buyer. I would say the purchased 1 in 4 machines. Didnt matter what size, weather it was a hoe, loader, dozer, or truck. They bought them all
Cat Auctions Caterpilliar is getting into the auction business.My dealer Ziegler had their first one Nov. 12.I was busy so didn't go so can't tell you how things sold. A lot of the equipment listed had McAnnich name on it.Storys flying around about them so who knows?:beatsme :usa
I go to quite a few of the ritchie brothers auctions up here. Its one of the cheaper places to get equipment.
We go the RB auctions in Northeast, MD all the time. We have purchased quite a few of things from there. The exporters there have been running the prices up on stuff but you can get some good deals. The next one is Dec. 16th, so we will see.
I just went to a RB auction in Washington. Prices were high on everything but haul trucks. I bet there most of the equipment, I'd say 70% went over sea's or mexico. I went to an auction to acouple of weeks earlier and they could not give stuff away.
I'm looking for an older wheel loader and a screener in Alta, Sask or BC, so I went to the last RB sale in Edmonton. The oil industry in western Canada seems to be slowing a lot, and the housing boom has fizzled out. One would think prices would be dropping. But prices on equipment were still high. A lot of people seemed to have money and bid up the equipment. Maybe they made money this past year and can't wait to spend it. I bought some stuff at the sale, but not a loader or screener. Maybe future sales will have better prices. A lot of companies may go under, and others will have to get rid of idle equipment to pay the bills.