Excavators in high demand as Ritchie Bros. gears up for next auction in Dubai
Bidding opened on 14 March, buyer interest is turning to current inventory with nearly 1,200+ items up for sale
Auction house Ritchie Bros says its upcoming online auction in Dubi will feature a large line up of excavators after its 2022 online Timed Auctions saw a 24% increase in excavators sold at the Dubai site compared to the previous year.
Ahead of the 21-22 March, 2023 event, the firm said confidence from overseas bidders remains high due to the numerous photos, videos, inspection reports, and other details on the online listings.
Bidders can also come to the Jebel Ali auction yard in Dubai to inspect items in person. Having these two options helps buyers understand the equipment they are bidding on, said Ritchie Bros.
Among its usual wide range of machinery category such as excavators, mini excavators, forklifts, crane and loaders are also SUVs, rock trucks, articulated dump trucks and more.
With a tightened supply of new equipment and improved productivity in the construction industry, demand for used equipment and heavy machinery continues to remain strong in the first quarter of 2023, says Ritchie Bros. Continuing effects of chip shortages, manufacturing delays and other market conditions underpin the demand for used and near-new equipment from buyers located around the world, added the auction house: “As more equipment buyers around the world turn to used equipment to meet their fleet management needs, Ritchie Bros.’ auctions in Dubai continue to attract strong online attendance with over 1,000 bidders from 69 countries participating in the company’s most recent January online auction. Top buyer countries were the UAE, Kuwait, India, USA, and Uganda. However, the most recent auction also drew registrants from Canada and The Netherlands among others, demonstrating widespread acceptance of online auctions from offshore bidders.”
Excavators stood out as an equipment category sold in 2022, with 24 per cent increase in volume sold compared to 2021.
At the same time, buyer demand increased; on average 15% more bids were placed on excavators sold in Dubai. Now, the company is gearing up for its next online auction in Dubai on March 21-22, 2023. An opportunity for businesses looking to dispose of assets easily and for equipment-hungry buyers from all over the world.
With bidding having opened on 14 March, buyer interest is turning to the current inventory with nearly 1,200+ items of heavy equipment and machinery including 90+ hydraulic excavators, of which 57 are unused, as well as five featured picks by the Ritchie Bros. team: a 2021 CAT 336GC, a 2009 Komatsu PC1250-8R, an unused 2022 Hyundai R340L , an unused 2022 Volvo EC300DL and an unused 2022 Hitachi ZAXIS 200- 5G.
Other notable items featured in the auction inventory include three Eco-Smart 2021 Komatsu PC195LC-8 Tracked unused excavators featuring low fuel consumption 4-cylinder engines with common-rail injection technology, work modes, and low fuel consumption guidance displayed on monitors. An interesting option for eco-minded company executives.
Ritchie Bros.’ Timed Auctions are open for bidding for several days, until bidding closes at staggered times on the closing day(s). Bidders can join on the Ritchie Bros. website or the free mobile app and receive notifications from the system to stay up to date. Ritchie Bros.’ Online Timed Auctions are unreserved, meaning there are no minimum bids, and the highest bidder always wins the item.
