Following the success of its 2022 online timed auctions in Dubai which saw strong international buyer participation, Ritchie Bros, global asset management and disposition company, witnessed a 24% increase in excavators sold at the Dubai site in 2022 compared to 2021.
The company’s March auction presents another large line up of excavators to bid on, Richi Bros wrote in a statement.
According to the Vancouver-based company, with a tightened supply of new equipment and improved productivity in the construction industry, demand for used equipment and heavy machinery remains strong in the first quarter of 2023.
“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, Ritchie Bros said.
As more equipment buyers around the world turn to used equipment to meet their fleet management needs, Ritchie Bros’ auctions in Dubai attracted 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.
Among all the equipments and vehicles offered for the sale excavators stood out as an equipment category sold in 2022, with 24% 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 March 14, buyer interest is turning to 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, Richi Bros said.
Other remarkable items featured in the auction inventory include three Eco-Smart 2021 Komatsu PC195LC-8 tracked excavator (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.