Rouse: Equipment Auction Sales Spike in February, Values Inch Upward

High volume at Florida sales move 8.4% more than in January, while used equipment values rose 1.6%

Ritchie Bros 2012 Orlando mobile sale
Ritchie Bros 2012 Orlando mobile sale

February auction results are up 8.4 percent over January due to high volume at Florida sales, while used equipment values for the month increased 1.6 percent, according to the March Rouse Rental Report.

Rouse recorded 4,579 units that sold at 11 separate auction sales conducted across North America. The units represented a combined forced liquidation value (FLV) of $164.6 million and generated $178.5 million of gross auction proceeds (vs. $14.5 million in January).

Also in the Rouse report, February orderly liquidation values (OLV) indices for used equipment across the 14 major rental categories tracked by the company increased 1.6 percent from January values. For the six months ending February 29, 2012, average index values increased 5.6 percent. Eleven out of 14 category indices recorded one-month value increases ranging from 0.1 percent for scissor lifts to 4.3 percent for telescopic booms. 

In other news, Rouse reported that during December, achieved rental rates remained flat for the six rental companies participating in the Rouse Analytics Rental Metrics Benchmark Service, following 10 consecutive months of increases. Rouse Analytics calculates rate change weighted by prior period activity in accordance with the American Rental Association Rental Market Metrics standard.