Ritchie Bros auction hits high gear

Brisbane auction results reflects big demand for trucks and trailers on the east coast

Ritchie Bros.’ Brisbane auction on June 15 proved to be a huge success, especially for sellers in the transport sector.

Buyers not only traveled from different regions, chasing all types of equipment, but also made their auction purchases online, creating great results for all equipment sold on the day.

Dale Spedding, Ritchie Bros. Regional Sales Manager, was at the June 15 auction where over 200 prime movers, trucks and trailers sold. He says the strong results were not surprising after hearing market feedback that major works had started not only in South East Queensland, but all up the east coast and into the Northern Territory.

“We were expecting a strong day overall leading up to the sale and the market reacted positively to the large inventory,” said Spedding. “We got buyers from all over Australia.”

Besides strong pricing in transportation, key successful highlights of the auction were articulated dump trucks, thanks to an increase in major industry and housing developments, and a noted increased strength in the mining sector. Some mining equipment that had been parked for a while was now being placed into work.

Spedding says right now the market has a strong demand for transport trucks and good, low-hour earthmoving equipment. He expects this demand to carry over into Ritchie Bros.’ next auctions in Brisbane (Aug. 24) and Geelong (September 14), and well into the next 12-18 months. And since trucks and trailers often go hand-in-hand, the incline in truck demand will lead to raise in the demand for trailers.

“We always see an increase in the trailer sector when the truck industry thrives,” said Spedding. “For the June 15 auction, the reefer trailers achieved great results and our consignors were very happy with the returns. The tipper trailers also showed good returns, which was expected after seeing what out tipper trucks sold for.”

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Ritchie Bros auction hits high gear

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