Top reads on the Ritchie Bros. blog in 2023

What was your highlight from the industry in 2023? As we bid farewell to a year of ups and downs for the machinery industry, our team handpicked the stories that you, our readers, found most interesting in 2023. The last year’s combo has a little bit of everything: market trends, rental, top machines, selling and purchasing tips, and much more. Let’s have a look at the Top 10:

#1 6 trends to watch in the construction machinery market for 2024

“We expect to see a contraction of construction output in Europe both this year and next year before we hopefully notice a return to growth in 2025.”

This is a glimpse of what we heard from Sebastian Popp (CECE) and Chris Sleight (Off-highway Research) during an interesting Insights session in October. War, inflation, the pandemic, and other recent socioeconomic developments could not have left the machinery industry unaffected. What is expected for 2024? Find out all the insights they shared with us here.

#2 Four ways to effectively sell machinery

Every year, more than 68,000 sellers choose Ritchie Bros. to channel their machines back into the market. The trick to making great selling decisions is to look at three key factors: effort, timing, and returns. Luckily, plenty of options are available to help you sell machinery today, each with pros and cons. Check out this helpful list and make your own great selling decisions for the year to come!

#3 5 tips when joining an equipment auction for the first time

Being at an auction for the first time can feel overwhelming, with all those big machines and the giant bids placed on them. Here are some valuable tips to help you get more out of your first machinery auction experience. It does not matter that they were written in 2023; this eloquent list is your ever-lasting asset for every machinery auction. First tip: Start small. See all your auction tips here.

#4 The top machines sold on Marketplace-E

From a pile hammer to a jaw crusher, discover the top 5 machines sold through Marketplace-E, our 24/7 online marketplace, in the third quarter of 2023. By the way, did you know that Marketplace-E offers two easy formats called ‘Make Offer’ and ‘Buy Now’?

#5 Crawler excavators’ sales up by 30% in 2023

Sometimes, we enjoy sharing insights from our Market Trends Report throughout the year. With a massive database on the European used machinery market available via our selling channels (auctions, Mascus, Marketplace-E, and more), the report provides forecasts on supply, demand, and sales of several machinery types. This blog highlight focuses on crawler excavators, but stay tuned for more machinery types in 2024!

#6 Women in the heavy equipment industry: Four stories from Ritchie Bros.

The key to Ritchie Bros.’ 60-year success story is its people working across various roles worldwide. For International Women’s Day, we selected four women based in Europe across different functions who shared their stories. Meet a Territory Manager, a Regional Operations Manager, a Marketing specialist, and the Marketplace-E project lead, all based in three different countries; check out what led them here and what motivates them at work every day. 

#7 INFOGRAPHIC: Ritchie Bros. by the numbers

It’s always cool to talk with numbers, but how cool is it to visualise them? People love infographics, and this is why, earlier this year, we captured all the exciting facts and figures about the various Ritchie Bros. services and solutions in this infographic. Did you know over 200,000 buyers found the machine of their dreams on Ritchie Bros. channels last year? Looking forward to seeing what’s the total for 2023.

#8 Key considerations for rental fleet adjustments in Europe

2023 was a “back to normal” year for the machinery market, but reducing or replacing aged machines in a highly competitive market could still pose new hurdles in 2024. Which factors should a rental fleet manager take into account to adjust their fleets accordingly? See what we heard from Antti Suoniemi, Strategic Accounts Manager, Rental, at Ritchie Bros. 

#9 Revolutionising machinery sales with Marketplace-E

Two companies, two success stories. A cone crusher that travelled from Poland all the way to its new owner in Mexico and a group of dozens of machines that found their buyers in Ghana, Thailand, Vietnam, and more. Read these two success stories of companies that sold their machines to buyers worldwide with Marketplace-E.

#10 Expert decisions helping to maximise your machinery

“We aren’t salespeople; I like to think of us as a trusted advisor.”

Have you realised how many different services exist to help your business? When you speak with Ritchie Bros. Territory Managers, they can ensure you find the right one time and time again. In this article, Ryan Duffy, Territory Manager, South UK, explains how their expertise can benefit the whole process for a Ritchie Bros. customer.

Another exciting year for the machinery industry is just around the corner. Do you always want to be the first to know what is up? Subscribe to receive the latest articles in your inbox.

See also

International Women’s Day: Women Driving Change at Ritchie Bros.