Auctions & Used Plant

news Finning announces brand-new FINROCK21 virtual event

On October 21 2021, Finning UK & Ireland, exclusive distributor of Cat® products, will be hosting a free-ofcharge virtual event for plant operators, construction professionals and heavy equipment enthusiasts.

FINROCK21 will be a live, interactive virtual exhibition open to both existing customers and people that are new to Finning and Caterpillar®, giving them exclusive access to networking opportunities, technology demonstrations and more. Located on the fictional Finning Island, visitors of FINROCK21 will be greeted with a virtual lobby where they can choose from a series of zones, each offering something unique. These include an equipment showroom, where attendees can get hands-on experience with different machinery and get a feel for how technologies can benefit their sites and businesses. Visitors can also consult Finning experts for machine, business and financial advice, ensuring that they have everything they need to get their projects on track. FINROCK21 will include a series of technology demonstrations throughout the day, as well as panel discussions on topics ranging from engine rebuilds to machine productivity. The Tech and Innovation zone will also include sneak peeks of products that Finning and Caterpillar are still developing. “By launching FINROCK21, we are breaking the mould and offering a brand-new interactive experience for operators, engineers and other heavy equipment enthusiasts who have been unable to attend events over the last 18 months,” explained Peter Seaman, Customer Experience and Marketing Manager at Finning UK & Ireland. “The new expo promises to be a memorable one, where we can meet attendees virtually, introduce them to new equipment and technology and inspire them in a way that we haven’t been able to over the last few months. “We will also be offering behind the scenes tours of our operations and regional sites, giving visitors an exclusive insight into how we operate as a business. Alongside the virtual expo, we will be broadcasting FINROCK TV live from our very own studio, with a range of presentations and entertainment throughout the day — another new step for us.” As well as attending talks and demonstrations, visitors can browse opportunities at the careers fair and network with other attendees. They can also benefit from a range of special “show only” deals and offers, including competitions with prizes such as a VIP trip to Malaga for two.

Doosan Launches New DL420CVT-7 Wheel Loader

As part of the company’s awardwinning DL-7 series, Doosan has launched the new DL420CVT-7 Stage V compliant wheel loader equipped with a Continuously Variable Transmission (CVT).

With a maximum bucket capacity of 4.5 m3, the Doosan DL420CVT-7 wheel loader is intended to meet a wide range of materialhandling needs from loading and transporting granular material (such as sand or gravel) to quarrying, mining, construction, demolition, industrial, waste and recycling applications. A CVT transmission is the result of a permanent combination of a hydraulic technology and a mechanical technology which provides a smooth and continuous speed variation. The CVT design combines the benefits of a hydraulic mechanical transmission and a hydrostatic transmission in the same machine. It allows the DL420CVT-7 to automatically transition from hydrostatic power at low speed to the mechanical system to operate at higher speeds. By combining the two types of transmission, the CVT technology ensures high loads can be carried at low engine speeds with high dynamics for an optimum wheel loader operating cycle. The DL420CVT-7 therefore provides an increase in machine performance for operators working in digging, loading and lifting applications. For most tasks, operators will utilise the hydrostatic part of the transmission, which offers greater fuel efficiency in low-speed applications. The combination of the two transmissions is automatic and fully transparent for the operator. The complete driving range, forwards and in reverse, is controlled by the CVT system. Low engine speeds ensure a high efficiency and the highest driving comfort irrespective of the traction speed. The power splitting continuously variable technology facilitates moving off softly and hydraulically. Furthermore, with the CVT, a fuel saving of up to 15% can be achieved.

Operator Visibility

The new cab on the DL420CVT-7 offers a greatly improved field of vision for the operator, with blind spots around the cab minimized and a 14% larger glass window area compared to the previous DL-5 model. Inside the cab, the DL420CVT-7 provides significantly enhanced operating comfort, an enhanced steering system and advanced electronic controls. Using the new Doosan Smart Key system on the control panel in the cab, the operator can start the machine using a keyless device, helping to prevent machine theft. The new cab has a Grammer Actimo XXL seat with fully adjustable horizontal and vertical suspension settings, a pneumatic lumbar function and seat heating as standard. There is a 3-point safety belt with alarm icons on the new Doosan Smart Touch 8 inch touchscreen monitor and on the gauge panel, which features a new layout and anti-reflective glass. The new EMCV (Electric Main Control Valve) joystick fully integrated in the armrest is another standard feature in the cab, providing the operator with smoother and precise controllability of the lift arm and attachments on the wheel loader. Features available via the EMCV system include Automatic Return-to-Dig, Bucket Tilt Kick-out and the Bucket crowd stop position and shock prevention for higher operator comfort. Designed to give the operator more precise control with a shorter lever stroke, resulting in less fatigue, the sensitivity of the ergonomic joystick control can be set and altered according to operator preferences using the new Doosan Smart Touch touchscreen monitor. User-friendly and easy to read in all conditions, the new touchscreen provides all the important settings and information the operator needs in one place. Included in the information at the operator’s fingertips on the touchscreen is the feed from the rear-view camera, the weighing system, the HVAC controls, Radio & Bluetooth devices (music streaming, handsfree) and the operator help function.

auctions & used plant Ritchie Bros. to acquire Euro Auctions and expand its reach in EMEA region

Ritchie Bros., a leading global asset management, disposition, and services company, and Europe’s leading plant and machinery auction house, Euro Auctions, have jointly announced that they have entered into an agreement under which Ritchie Bros. will acquire Euro Auctions group for an enterprise value of £775 million.

Founded in 1998, Euro Auctions conducts unreserved heavy equipment auctions with onsite and online bidding under the brands Euro Auctions and Yoder & Frey, with 200+ employees in 14 countries. In 2020 the company conducted 60 auctions, selling close to 90,000 items for £484+ million across its nine locations in the UK, Northern Ireland, Germany, Spain, the United Arab Emirates, Australia, and the United States. Similar to Ritchie Bros., Euro Auctions also sells items through a timed auction format and a daily marketplace with Buy Now and Make Offer options. “Ritchie Bros. and Euro Auctions are an ideal fit with a united goal to make asset insights, service offerings and disposition solutions easier than ever,” said Ann Fandozzi, Ritchie Bros. CEO. “Euro Auctions has an incredibly talented team, with expertise in asset sourcing, auction operations, sales, and customer service. Their ‘can do’ attitude and entrepreneurial spirit combined with technology has helped them adapt and grow, in much the same way as we have. This acquisition significantly accelerates our strategy to drive revenue and earnings growth and add shareholder value by continuing to expand our capabilities in new channels, sectors, regions, and customer segments.” Euro Auctions Founder and Director Derek Keys added, “Dave Ritchie and his brothers were a big inspiration for my brothers and I in the creation of Euro Auctions. We modeled much of what we do off Dave’s customer-centric philosophy, which still runs through Ritchie Bros. today. Bringing us together will drive value for customers, as we provide more equipment, solutions, and services to the many industries and regions in which we operate.” Ritchie Bros. will be retaining Euro Auctions employees and its brand, both of which are highly regarded in the EMEA region. This will expand Ritchie Bros.’ overall footprint and access to equipment, while also tapping into new revenue streams with service offerings to Euro Auctions customers, including inventory management services, data solutions, financing, warranty, insurance, inspections, refurbishing, shipping, and more.

Rationale

Strategic Rationale for the Acquisition: • Accelerates our Journey – This acquisition will accelerate our journey, strengthen our strategic pillars and further establishes

Ritchie Bros. as the trusted global marketplace for insights, service, and transaction solutions for commercial assets. Euro Auctions is an ideal and complementary brand to expand Ritchie

Bros.’ global footprint. This combination will bring unprecedented and diversified choice to customers around the world, facilitating better price discovery and more equipment selection. Euro Auctions has considerable presence across Europe and the Middle East, particularly in the U.K. and Germany and will serve as a platform to accelerate international growth. • Accelerates Inventory Management System

Adoption – Ritchie Bros. suite of tools and digital services will unlock value for

Euro Auctions customers post acquisition, providing a more robust offering for customers. Tools and services include a free business inventory management system from RB Asset Solutions, data analytics tools like Market Trends and RB Asset Valuator, financing from Ritchie Bros. Financial

Services, as well as shipping, insurance, warranties, refurb, and inspection services. • Global Platform for At-Risk – The combined entity will be able to leverage industry best practices and decades of equipment expertise, while providing access to more capital to quickly offer robust at-risk consignment options for customers globally, regardless of transaction size.

Keys to Stay

Ritchie Bros. has secured employment arrangements with key management of the Euro Auctions business, including Derek Keys, who will continue to be involved for a minimum of three years post-closing. It is intended that Jonnie Keys will assume a senior leadership position, and Lynden and Trevor Keys will be retained as sourcing leads. The transaction was approved by the Board of Directors of Ritchie Bros. and is expected to close in late 2021 or early 2022, subject to regulatory clearances and the satisfaction of other customary closing conditions.

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EURO AUCTION LEEDS ATTRACTS AUDIENCE AND BUYERS FROM OVER 90 COUNTRIES

Again, the Euro Auctions UK site in Leeds proves it is Europe’s number one sales arena for the sale of construction machinery, agricultural equipment, and industrial plant, with over 4,600 lots going over the ramp in a recent four-day August sale.

Following Euro Auctions traditional summer recess, the August sale at the ‘flag ship’ site in Leeds provided buyers with no shortage of good quality equipment and machinery, and plenty of choice of makes, and models from over 4,600 lots that went over the ramp and a total hammer of £32 million. Operating on three levels, the August sale was run as a ‘live sale’ with floor bidders buying on the day, which was supplemented by the live sale being streamed live, ‘on-line’ attracting 69% of all bidding and successful buying activity. The last day of this four-day sale culminated in a ‘timed sale’ on the Saturday.

Market Trends

Chris Osborne, one of Euro Auctions territory managers for the UK comments on the sale, “The current OEM supply-chain is still strangled, with delivery times still quoted well into 2022, giving the used machinery and equipment market huge appeal. My colleagues and I have been working hard with vendors to source, secure and consign for each Euro Auctions sale the best, late, low hours equipment we can find, and we are still finding new and unregistered machines, which our buyers like. This sale drew a solid crowd, and with Covid restrictions relaxing it was evident from the first-time registrations and the new faces in the crowd, that the used equipment market has huge appeal, and it was good to see so many new faces in the crowd.” Looking for a market trend, it was the smaller equipment items and machinery that were grabbing the attention of buyers, such as: mini diggers, site dumpers, 6T excavators, man-lifts, skid-steer loaders, with interest strong and bidding brisk. Talking to buyers it was evident that the smaller infrastructure and the domestic construction market had surged since Covid rules had relaxed, and contractors were acquiring equipment for specific projects, house building, landscaping projects, surfacing and civils projects. That said, the bigger ticket items were still grabbing the attention of buyers, and across the board commercial vehicles were in high demand.” Whilst 515 consignors from 20 countries participated in this sale, it was the home market that made the auction their own, with 90% of all vendors coming from the UK. With growing interest in Euro Auctions, sale on sale, 20% of vendors sent equipment to the sale for the first time, another indication of the strength of the market. Since Covid, bidder numbers at Euro Auctions, Leeds, have remained strong, with repeatedly 3,500+ bidders registering at each sale. At the August sale, 3,200 bidders participated with 15% being first time registrations, with 35% buying on the day. One statistic that Euro Auctions has seen over the last 18 months is that bidders and buyers are loyal to their own ‘country’ sale, with this being no exception, with the top bidding countries being: UK, Republic of Ireland, Poland, Netherlands and Spain. By world region, the top buyers were: United Kingdom £16.6 million 51.8% of total Europe £14.4 million 44.97% of total Middle East £457,000 1.4% of total Africa £418,000 1.3% of total Rest of the World £98,000 0.37% of total UPCOMING AUCTIONS

Leeds - 27th, 28th, 29th, 30th October 2021 @8.00am

Yoder & Frey - Kentucky 28th October 2021 @8.30am Yoder & Frey - Florida - 3rd November 2021 @ 8.30am Crossways Eng. - 4th & 5th November 2021 @ 09.00 European Multi-Location 11th November 21 @ 08:00 Euro Auctions attracts buyers and sellers in 95 countries, with all Euro Auctions sales attracting a growing number of international machinery buyers. Full details for consignors and bidder catalogues for these events available on the Euro Auctions website at www.euroauctions.com email info@euroauctions.com or on +44 (0) 2882 898262.

REAL-TIME ASSET PRICING AND MANAGEMENT WILL TRANSFORM THE USED

EQUIPMENT MARKET

BY PETER HADDOCK

Since selling used equipment at auctions went online in the pandemic, the sector has undergone a major transformation, not least with the dramatic increase in online registered and active bidders across the globe.

You only have to look around to see fleets of equipment preparing the ground for warehouses across the country to see just how much online buying and selling has become the norm. Of course, the mobile equipment industry has also felt the impact of factory shutdowns, restricting the flow of new equipment. And all at a time when spending on infrastructure and housing has increased dramatically. With projects like HS2 now well into the major earthworks phase, the industry is currently seeing a booming market, which has added to an increase in demand for used equipment, but a lack of supply. This has been due to fleet owners keeping hold of equipment, while waiting for new models to arrive. It’s not only the market that has been changing, but acquisitions are also being made that will ultimately reshape the industry. Take, for example, the recently announced purchase of Euro Auctions by Ritchie Bros for £775m on 8th August. The business also recently completed a $275m deal for the data intelligence specialist Rouse Services in December 2020.

Ritchie Bros Acquisition

And as I write this report, Ritchie Bros. has just announced the purchase of SmartEquip. It’s a leading parts and service technology company with global operations that include a presence in the UK. Talking about this acquisition, Ritchie Bros Chief Executive, Ann Fandozzi, said: “This acquisition furthers our goal of providing the best experience for our customers as we continue our transition from a traditional auctioneer to a marketplace for insights, services, and transaction solutions for commercial assets. SmartEquip will enable us to offer asset-specific, full-lifecycle parts and service support on behalf of our dealer and OEM partners to our buyers.” Having reported how the market has been changing over the last three years, I have regularly talked with Rupert Craven, the Sales Director of Ritchie Brothers in the UK. And from a recent interview, it wasn’t the auctions that were the topic of conversation. It was all about the growing importance of Ritchie Bros Asset Solutions, which he sees as the next step in the evolution of the used equipment space. “Today, we not only have a wide range of ways you can sell equipment, but we also have a much more connected market, which impacts the value of assets locally, regionally and globally. The challenge of extracting the best value out of your assets can, therefore, potentially be very complicated. “For example, imagine you have a diverse fleet of equipment varying in age, type, OEM, condition and hours used etc. Each item has a value, but that will change at any time, depending on the market demand for that specific piece of equipment. As an owner, the last thing you will be thinking of daily is ‘what is my equipment worth’? “And this is because you are busy utilising it to make profits and probably have a set timeframe for disposals. There will also be numerous variables to consider within a disposal strategy, like the lifecycle cost of ownership, finance, customer demand for low emissions machines etc. “However, knowing what a fleet or individual machine is worth can make a big difference to the profits made when disposing of it at the right time, and in some cases might bring disposal decisions forward.”

Rupert Craven, the Sales Director of Ritchie Brothers in the UK.

Asset Solutions

Ritchie Bros Asset Solutions, known or RBAS for short, has several key data-rich services that customers can use. One of

the core elements is its free web-based ‘Asset Valuator’. It allows you to search the Ritchie Bros live market data, which incorporates prices from the billions of pounds worth of equipment sold every year. Adds Rupert: “The Asset Valuator is the first part of RBAS that I think will make a big impact on new and existing customers. It incorporates all pricing data from our global platforms, including online auctions and our always-on Marketplace E platform. This instant global picture will immediately help owners make better decisions about when and how to sell, with the options including selling through Ritchie Bros platforms or directly to us. “Similarly, if you are a buyer and want to understand what to expect to pay for a certain age, type and condition of a machine, then you can also use the system. I always encourage people to do this as part of preparing for an online auction in particular. For example, if you build up a selection of lots you are looking to bid on, you can search for similar machines and know what they are likely to sell for. As a registered user on our website or app, you can also save searches, which helps if you are looking to buy or sell a certain type of machine regularly.” Recently published figures from Ritchie Bros show just how the pandemic has positively impacted the used equipment market, helping it become more global and diverse than ever. Its statistics show a 13% increase in website traffic to more than 140,500,000 visits and a 77% increase in online bidder registrations to 1.2 million bidders. Looking at these figures, it’s no surprise that asset values align much more now with Worldwide or regional trends, not just the location of an individual auction. This is why data is such an important part of RBAS, with its monthly free ‘Market Trends Report’ sharing insights on price trajectories, high demand locations, and historical comparisons. Data that is now in real-time is at the heart of the RBAS proposition, which is set to make inventory management easier. Rupert continues: “When we have introduced RBAS services like the free Asset Valuator and monthly report to customers, the feedback has been great. They see this kind of ‘curated data’ as a really simple way of getting a relevant overview of the market and getting a snapshot of specific equipment values. But for fleet owners, it’s not ideal to do individual searches, which is why we have developed a more holistic approach to fleet management.” Making good decisions is all about having information at your fingertips. In practical terms, RBAS customers can add assets into the portal with key data on each unit like type, age, OEM, hours etc., from any connected device. This includes computers, mobiles and tablets, making it very user friendly. Once information is in the portal, you can access real-time market valuations and additional services. For example, one of the most important parts of selling online to get the best value for an asset is having a detailed inspection report and multiple images. Comments Rupert: “When it comes to inspections and data, with RBAS, we have developed a two-tier approach. The first is a self-inspection process, where customers can upload data and follow a simple online guide. The second is to request an expert inspection or appraisal from one of our trained staff. “This data is then stored in a secure customer portal in the cloud. It can then be accessed and updated anywhere in the world. Of course, the real benefit to customers looking to maximise asset values comes with the ability to check prices and make regular seamless selling decisions. This is because we have developed the solution with the instant capability to assign assets to any of our selling platforms. “All of these RBAS features are designed to simplify the selling process. For example, a customer using the RBAS inventory solution wanting to assign equipment to sell with Ritchie Bros only has to sign one contract. This gives them immediate access to the online consignment platform built-in to RBAS. From there, it’s simply a matter of entering the asset details required, including year, make, model etc., and then opting to consign it to the auction or platform they choose. “Once the equipment is delivered to our Maltby auction site, we take care of the rest, right through to transferring payments once the lots have sold. You can even sell assets directly to us by requesting a price for individual or multiple assets.” Having sold a whole range of equipment, including a fleet of cranes at its last auction, RBAS and Asset Valuator users will already benefit from the final selling price data insights from this auction as they are loaded straight into the system. UPCOMING AUCTION

With its next UK auction set for the 25th and 26th of November 2021, a quick look on rbauction.co.uk shows that sellers have already assigned equipment. For example, two 2016 Volvo EC220EL hydraulic excavators will be in the sale, both with around 7500 hours on the clock. Logging into the Asset Valuator, I learned that similar units were sold by Ritchie Bros recently with an overall average price of £49,000. Armed with this information, if I wanted to buy one of these machines, I would have a good idea of how much I would need to fund the purchase. And if I wanted to ship it abroad, then the Ritchie Bros logistics team would be able to give me an idea of what this would cost. Of course, if you are a seller, the key to getting the best value is all in the timing. It’s a bit like playing the stock market. Prices and demand are high at the moment, but if you keep hold of equipment for too long, as new machines are now being delivered, then you might find values returning to normal market levels. And for me, that is the power of RBAS, as you have all this market information at your fingertips, allowing you to make much more informed decisions, item by item. To find out more about Ritchie Bros Asset Solutions and to access the free Asset Valuer, visit www.rbassetsolutions.com

auctions & used plant

Wilsons Auctions goes Green with installation of new Electric Vehicle Chargers

Wilsons Auctions has rolled out the installation of Electric Vehicle (EV) Chargers to its premises in an investment aimed at accelerating the transition to electric vehicles as the company takes a leadership role in the response to climate change.

The chargers have been installed to service the increased provision of hybrid cars and fully electric cars for staff, which comes as the auction company embarks on a project to reduce its carbon footprint by encouraging a greener solution to its company car offering. Commenting on the progression of Wilsons Auctions Green journey Peter Johnston, Group Operations Director says: “In addition to the company being powered by renewable energy, the installation of electric chargers further underlines

Peter Johnston, Wilsons Auctions Group Operations Director (right) with Andrew Wilson, Managing Director of Wilson Power and Energy Ltd who installed the new Electric Vehicle Chargers at Wilsons Auctions premises.

Wilsons Auctions commitment to achieve net zero through our Carbon Reduction Plan. The transition from petrol and diesel to electric vehicles is driven by the Wilsons Auctions senior management so providing electric vehicle charging infrastructure across the company will further support the transition away from fossil fuels and encourage low carbon alternatives.” The installation of the electric vehicle chargers was undertaken by Wilson Power and Energy Ltd, with Managing Director Andrew Wilson delighted that Wilsons Auctions chose his company to move forward on their “Green journey”. Andrew comments: “With Wilsons Auctions staff already transitioning to Full Electric and Hybrid vehicles the installation of charging units at their branches is the first step for the long established and renowned Auction Group which extends to 18 sites across the UK and Ireland. “The work has been completed on time and with detailed planning we were able to ensure the hammer continued to fall in the auction rooms and the installation work did not disrupt the operation of the business. Wilson Power and Energy Ltd are looking forward to building a strong working relationship with the team at Wilsons Auctions as we move to further reduce their carbon footprint.”

Euro Auctions sale at Clady Quarries attracts interest from across Europe

The recent ‘off-site’ sale conducted by Euro Auctions for Clady Quarries at the Blackquarter Road, depot in Clady, Co Armagh attracted an international audience from across Europe and beyond, including buyers from USA and Africa.

But it was buyers from the Republic of Ireland that led the charge to successfully bid and secure over 60% of all lots sold, showing the strength of economy in the Republic, as well as the need for good quarry and mining equipment and machinery. This is another demonstration of strong and successful bidding from the ‘home market’, a current phenomenon at all Euro Auctions bases globally where home buyers are stronger, wishing to buy local for local projects, with ease of transport from local sales to where the machinery and equipment is needed. With a reputation for conducting ‘off site’ sales in a multitude of market sectors including construction, demolition, agriculture, recycling and mining, the recent sale at Clady Quarries was no exception to the rule for Euro Auctions, Europe’s leading auction specialist of construction, mining, agricultural and earth moving machinery. Since the mid ‘80s, Clady Quarries has operated as a successful quarrying business based in Clady, County Armagh, specialising in quarrying, ready mix concrete, the manufacturing of concrete blocks and siteworks. Sadly, due to a family bereavement, and the restructuring of the family business, this sale rationalised the stock holding of the business. The catalogue consisted of a solid consignment of well maintained, good quality machinery, vehicles and equipment from the quarrying arm of the business, which went up for sale at this one-day disposal auction. Lots included a good compliment of loaders, lorries and excavators, plus trailers, screeners, and crushers, with all equipment being in excellent order, having been well maintained during its life span. Euro Auctions pre-markets all sales to a global audience, to buyers with special interest in stock such as this, with the result being bidding was brisk both on-site and on-line in this catalogue of equipment and machinery. On the day over 250 lots went under the hammer with close to 500 prospective buyers registering to bid on the day. With a hammer total of over £1.5 million, 60% of bidding was on the day in person, showing that the interest in this type of sale is strong within the sector, with the remaining interest and bidding being conducted ‘online’, where bids were received from the UK, Europe plus countries around the world including USA, Africa, and the Middle East. Cathal Doherty, Euro Auctions ‘Territory Manager’ who managed the sale, comments: “Euro Auctions has a long history of conducting off-site sales like the Clady Quarries auction, where we conduct the sale at the client’s premises. With experience in all market sectors, we understand the needs of the client, as well as being able to attract an educated audience. We also have experience in valuing specialist equipment, whilst being mindful that we must ensure both buyers and sellers are happy, with this sale being no exception. “When a consignment of specialist equipment such as this comes to market, and Euro Auctions is asked to value and dispose of the stock, our market knowledge is invaluable to the sale. Not only do we market internationally, we also introduce specialist items to key buyers through our global ‘sales manager’ and ‘territory manager’ network, thus seeking best interest and ultimately best price for the client.”