News & Insights

RITCHIE BROS. BRISBANE AUCTION UPDATE

8 August 2018 – With a strong turnout of buyers both online and on the ground, last week’s Ritchie Bros. auction in Brisbane revealed a number of market dynamics at play across the mining and infrastructure construction sectors.

Indeed it was an impressive line-up of well-priced, quality and in-demand civil machines.

It’s well documented that the continued investment in infrastructure across regional and metro Australia – particularly on the east coast – by state and federal governments, and improving resources outlook is feeding optimism within the sectors which is having a flow-on effect on the availability of machinery. Many in the sector believe this increase in demand will only continue and isn’t helped by a weakened Australian dollar that’s making importing machinery unattractive across most civil assets.

Speaking after the auction, Rob Alexander, General Manager of Sales at Iron Capital Group said, “There is a strong belief within the sector that we’re approaching a positive period of growth, particularly in Queensland, which will be welcomed by those that have managed to get through the last few challenging years. What also stood out from the Brisbane auction is that there is a strong resurgence in the material production industries across the country with crushing and screening equipment demanding high prices.”

Overall, while machine values eased across most classes, late model low-houred machines still out performed proving popular with buyers.