# Machinery Pete Current Equipment Market Chat with Luke Fritshaw with Ritchie Bros

## Метаданные

- **Канал:** Machinery Pete
- **YouTube:** https://www.youtube.com/watch?v=3oDXLUOs8DU
- **Дата:** 15.04.2026
- **Длительность:** 19:09
- **Просмотры:** 1,889
- **Источник:** https://ekstraktznaniy.ru/video/52677

## Описание

Video chat I had recently with my friend Luke Fritshaw, Director, Sales with Ritchie Bros. about the current used equipment market. With farmers focus shifting away from New equipment, Richie Bros. has seen a 30% jump in Watch List items in their web site vs last year. They still have Ton of upcoming equipment auctions Spring '26
www.rbauction.com

## Транскрипт

### Segment 1 (00:00 - 05:00) []

Hey folks, Machinery Pete here. Joined this morning by Luke Fritshaw, sales director for the Canadian uh prairie uh area up there for Ritchie Bros. And Luke, thanks for joining us this morning. — Yeah, thanks for having me. Excited to jump on here and talk with you about all things auctions and what's going on in the equipment market. — Well, I know how busy you are, Luke. Tough to catch. You guys got uh what? I think like 80 total machinery construction farm sales coming up right through the course the busy month of April here. So, you don't have a lot of free time. So, thanks for making time. — Yeah, absolutely. It's a It's uh It's going to be a quite a run here when we usually start that mid-March right till the end of April. It's usually two to five auctions a day. So, it's an exciting time in the world. — Yeah, folks, check out uh Ritchie Bros. website rbauction. com. As Luke said, you can page through all these upcoming auctions. And uh I love the pictures and videos you guys do, Luke. And uh boy, it looks like you got some just gangbuster farm auctions coming up here the next few weeks. — Yeah, it's fantastic. There's some beauties out there. Uh some nice ones out in Manitoba all the way across the prairies. There's a nice one kind of in every region. And it's fun to watch the quality of the equipment, um the buyer activity right now, the registration activity's better than we've seen in the last couple years. So, uh the used equipment market um as much as there is still some out there and everywhere you look uh in the auction space, we're see- still being able to uncover buyers and bidders from across North America and even the globe. — Yeah, it's really interesting what you touched on there, Luke. I was curious to get your take on it. Our auction data started to show in November kind of uh a little uptick uh across the US and Canada. And uh you know, times are obviously challenging uh in ag. But uh interesting mix. I mean, sales of new have been depressed now for a while. And of course, the price of new is what it is, and uh it just seems to me like folks are really zoning in on the used market, and in particular, you know, really good quality stuff. Just curious your take the last few months what you've seen. — Yeah, we're seeing that for sure. Like we're we track a lot of the used equipment market up here in Canada, and just try and keep our eye on what's going on in the used market, and of course hearing how manufacturers and dealers are pulling back on what's available on the new side, naturally, you know, go back 15 years, it was kind of that same program. They pull back, and what's going to happen? Well, if you can't get your hands on a brand new one, you're going to be looking for that 1-year-old trade, that 1-year-old used, maybe 1 to 3-year-old used to upgrade maybe what you have in the 5-to-10-year-old um vintage. So, we're definitely seeing a lot of action on that. Anything that's low-hour, well-kept, um in that, you know, size and make and model that guys want, we're still seeing a lot of strong action on it. Where where we're seeing probably the most pressure, like I said, is that kind of 7-to-15-year-old um used equipment. There's, you know, it's a fine line. There's still those um those um equipment categories that stay strong. The older they get, sometimes the stronger they get. Um but that's where we're seeing the most inventory is kind of in that 5-to-15-year mark. The lower uh the newer stuff is still it's guys still want it. They still want to upgrade into that. Um and it's obviously that also includes the newer technology and a lot of the aspects of equipment that guys are really out there trying to pay for right now. — Yeah, it's an interesting time. I've been tracking the market every day for 36 and 1/2 years. I don't know that I've ever seen a particular moment like this with uh you know, usually when used values are starting to, you know, make a move north of a bit, to me and in the past it's always correlated to strong new sales. Uh farmers have money, they're aggressive across the board, but you know, that new side is just continued to be a little depressed now. So, with 1 2 3-year-old stuff, we're kind of seeing a thinning of the volume on the dealer lot. I'm just curious what, you know, you guys talk to tons of farmers. Uh and heavy equipment people, just curious what you guys are feeling out there. — Yeah, there's it's tight out there for that advantage and I think there's, you know, there's a lot of those mud program farmers that are flipping every year, but then there's the guys that are kind of the next in line. They could they're continuing to do their flips into that 1-year-old stuff and it flows down the line and where we're seeing that bottleneck, like you said, is once you get to that 3 4 5 years old, it's less desirable and it's, you know, I heard you and Casey talking about it in the last podcast. It's that where it's like, "Do I need to upgrade? " You know, is that really an upgrade? How can I make what I have work versus, you know, jumping into a 5 to 10-year-old unit? Um it's there's less

### Segment 2 (05:00 - 10:00) [5:00]

urgency to do that versus the you know, because it's they can have a 10-year-old unit, they want to go to a 5-year-old tractor, there's not a lot of things that are different for them and so it's like, "Do I spend that money now? " Or maybe cash is tight, maybe I just use what I have. And so, you see that softening in that area, but for the guys that are jumping into those newer ones, it is a big upgrade. They are seeing, you know, value in that upgrade, so they're willing to go and spend it. — Yeah, and even a, you know, 1 2-year-old unit at auction, I mean, it's uh you know, it can be a big number, obviously, but then when you pull back and you're like, "Well, you know, gosh, what's a new one is uh quite a bit north of uh what the auction number is. " So, I think uh you know, when you drift into warranty availability, you know, folks aren't buying new one thing they got to avoid is downtime. So, are you seeing Sounds like you're seeing maybe a growing interest in that late model stuff. Do you think that's tied to the I mean, farmers got to have reliable equipment to keep cranking, right? — Yeah. Yeah, and I think it's just the it's a matter of I think [snorts] that's the biggest thing in the buying market right now is the buyers are selective, right? And so, it's like does it have warranty? What kind of work orders does it have? Like all those things mean so much. And so, if you are even looking to sell and you have any vintage of equipment like, you know, we I can tell you right now that having some solid work orders, having history on it, what's been done, how it's been done, all those things just add value and it's a hard value to peg, but it adds a lot of value to your what you're going to sell. And so, when you think about that as the buyers, they do look for that and are willing to spend more. And of course, you know, when you look at a 3-year-old unit, what it was new, call it a million-dollar unit, now, you know, you can buy it at auction for, you know, honestly, in the $500,000 range. That's where that's still a big number and it holds those values, but you're obviously not paying that new price and you can get a unit that, you know, has been on the field, it's worked and, you know, you can if you can trust it with warranty and work orders and things like that, it's a heck of a discount to be able to go get upgrade your fleet. — Yeah, I agree, Luke. I've been sort of for the last number of years as I analyze our data over the decades that just the data what it seems to shout to me on the auction front is in that 3-7 year old range. Uh particularly the large equipment that uh it's, you know, come down enough. But, if it's a really nice piece with low hours, if you extrapolate that out, you know, 10, 12, 15 years old, if it's really sharp, boy, then you just got dynamite. — Yeah. — If you buy in that 3-7 year old range and nice lower hour one uh you know what our dealer friends of course they have some inventory now and but a lot of great auctions you guys have 80 coming up in the next uh two months here so uh kind of opportunity is the word even though dollars are tight. — Yeah. — I think we saw what happened in 21 when corn and beans took off and then everybody and their brother wanted to jump in and buy newer used and uh we saw what happened then so it to me yeah I just opportunity is the word I keep coming back to in this current market just curious across Ritchie Bros organization what you guys are kind of seeing out there. — Yeah something very similar opportunity is going to be the word of what's going on in the next little while and I think you know like you said you go back to those years of the 21s 22s um the inventory levels dropped where it was just like you know now you're you need to upgrade you want to upgrade you've got the cash and you're going to pay for it. Now you have the opportunity you know be selective and buy the right things at the right price but the opportunity for you is out there and I think you just have to you know get on the websites and have a look because it's what you need is out there and you just got to be selective I think everyone's being selective as to how they're buying and what they're willing to spend but also that comfort of you know what's the history on it where it's coming from. You know that's why we still see a very solid action where you know even in our farm auctions so far this year our watch lists are up 30% our registered bidders are up over 10% so those people are taking advantage of the opportunity that's coming over the next call it month and a half with 80 opportunities to go buy equipment. Um you know we're seeing uptick in activity on where our registered bidders are coming from and how much there are so they're out there looking and I think it's only going to you know progress that way as the manufacturers you know slow down new production and try and pull back to kind of handle this correction that we're kind of going through with used equipment and equipment supply overall. — Well, I think you just hit on a data point there, Luke, that triangulates what I've been seeing from a different way. When you say your watch list is up 30%. Boy, that that's spot on to what I've been seeing and feeling. And I know it's you Ritchie Brothers

### Segment 3 (10:00 - 15:00) [10:00]

rbauction. com, uh you guys continue to push the envelope on, you know, everything you can do for buyers and sellers. And on that topic, gosh, we're super, I guess, pleased as punch here at Machinery Pete. You guys are flowing all your upcoming auction listings into Machinery Pete now so that you know, we get like 7 million page views a month, people looking for stuff. Now they're going to see your listings on your upcoming sales. So again, you guys just doing everything possible to get as many eyes on your upcoming auctions and items as you can. — Yeah, and we're excited to partner with you guys well and be able to do that because like you said, it's the page views and the people you drive to your website, if someone's [snorts] going there and not going to rbauction. com, we want to capitalize on that. And you have the platform to do so. So we're excited for that team up as well. And obviously it's fun watching, you know, any anytime our numbers are going up, it's exciting. And I think that's just a sign of the market right now and people wanting to, you know, we've you I was searching up some data, but um farmers pulled 2 years ago about 60, 65% of farmers were buying by auction. In 2025, that was up to about 77%. There was about a 9% growth rate on people willing to go buy at auction. And I think that's just the sign of the opportunities that are being presented in auction and equipment that are selling through auction. And then it's just the buyer demand of being able to control the price and how you know, trust what you're buying and being able to jump on rbauction. com and see anything you need is going to be on there. — But and again I had to big hats off to you guys at Ritchie Bros. Luke, every time I get to visit with you I have to compliment the job your team does on I mean the pictures are — Yeah. — just fantastic. In fact, I find myself lingering on rbauction. com as I page through and it I know the amount of work that goes into that but let's talk about that a little bit you know, emphasizing that cuz you guys are you have to move fast with the volume you're doing. — Yeah. — But it looks to me like you're I mean I can just see it. You're still devoting the effort and time on each and every auction event whether it's a huge consignment, one of your regional deals or Joe Farmer retiring in Minnesota or Manitoba. — Yeah, exactly. We've got an unbelievable team and they spend countless hours driving up and down the highway to make sure that level of consistency and expectation that we want to put the best product out there is in every single one of our sales and you know, it's important for us but it's you know, what we focus on is what's important for that farmer that's retiring and we want that like you said, you want people to linger, you want that first point of connection to their equipment, you know, that first appearance to be the best possible and so when they jump on a website or see a farm sale and see that picture, we want it to catch them, look good and really show what the farmers put into their call it last 50 years of farming. Um we want to represent them the best possible and it takes a huge team. We've got a ton of people, a ton of awesome inspectors and field coordinators that are driving up and down the highway because like you said, there's a massive amount of inventory that they have to process and they spend a lot of time out there helping our team and helping the farmers make sure that first impression is one to remember. — And again, it to me when I look at your pictures and the particularly the lead picture on each auction, it I think that's just exactly what you said. To me, it looks like you're visually honoring that farmer. So figure particularly the retirement sales, I see the you like you said, the farmer's been it's their whole life, 40, 50, 60 years and you know, there's a lot of great auction companies, but I mean to get that picture just right and to yeah, capture it. It I can just feel the work behind that and the intent behind that is what I see. It's really fun to see that again. So hats off to what you guys do and what about Luke, what would you say to people cuz of course, you know, there's tremendous pressure out there in a country you know, that are thinking rest of 26 uh you know, and you hear the coffee shop talk and it is challenging, but to those data whether you have one or two pieces to put on a consignment sale or you're thinking of having your own sale, I think those are really encouraging data points you highlighted. Your watch list, would you say that was up 30%? — 30% year-over-year. So from yeah, from what we saw in 2025 to what we're seeing so far and that's tracking across all the sales that are happening in the next 6 weeks. Where yeah, we're up 30% of people watching, clicking on that heart and watch put adding equipment to their watch list. We're seeing a massive bump there and then even just we we've always

### Segment 4 (15:00 - 19:00) [15:00]

had a strong registered bidder performance, but right now we're even up 7% and that just that's kudos to our marketing team. That's our focus is, you know, we want to you know, have people trust selling their equipment to us where through us, but also then focus on how do we go find more buyers? How do we bring more eyes onto their equipment and it's a 365 day focus for us at Ritchie Bros. is how do we find more buyers for our sellers? — And well, I appreciate again you guys flowing all your listings into machinerypete. com. Folks, you keep an eye out for those Ritchie Bros. listings and again, just a massive tremendous auctions. I counted 80 through and that was my quick count. I don't know if that's exactly, but uh and that's just through April. My goodness. So, do you guys get much sleep in late March or through April? — Not a ton. There's you know, it's spread across the prairie. So, when one guy's sleeping, someone else is ready to do a sale for their farmer, but um yeah, it's it's harvest, right? Like just like farmers, you know, they'll spend hours and hours in the field taking their crop off. It's an exciting time. This is an exciting time for us. So, you know, sleep can go to the side because this is the best time of year for us when we're working with we're especially the farm auction customers, you know, helping them through their retirement. Uh that's what we live for. So, it's an exciting time. — You said uh what you guys live for. Just curious, even with Ritchie Bros. like 16 years now, Luke? — Yeah. — Okay. And you're busy in this time and it's growing. Like you said, the auction method is just continuing to strengthen. Uh so, Luke Frochot, when you roll out of bed every morning after 16 years in the auction biz with Ritchie Bros. there, what excites you about uh the current auction uh world we're in? — For me, it's working with the farmers that are retiring and helping people through their retirement. It's a stressful time for them and you know, we've done it thousands and thousands of times and they're going to do it once. And so, for us to be able to help them with our marketing expertise and just helping them through to have the most successful sale that they can have, that's what excites me every day. Uh my role has changed now. I'm less hand-holding with those farmers, but I see it and work with the teams that do. and that's where I started was being able to be out there on the road and helping out farmers work through retirement auctions. That to me is still what gets me excited. That's why these next 6 weeks are they're more exciting than they are tiresome. Uh and so it's exciting every day to be able to have help people have successful auctions. We're seeing unbelievable pricing so far this year. Like I mentioned, registered bidders, watch listers, everything's up. Uh even the price of some of the equipment we're seeing some of fantastic results for the farmers and that's what's most important for me. — So you guys registered bidders has made a significant jump as well, huh? — Yeah. Yeah, which is fantastic. Like it's and that's just, you know, teaming up with you, um trying to drive more eyes to our customer sale. That's our number one focus every day with marketing is just how do we, you know, we how do we get the sellers to understand that our whole goal is to drive more buyers and more bidders to their auction so that their results are the best they can have. — Well, folks, [snorts] again, uh Machinery Pete recommendation, you go to rbauction. com. Again, just peruse through these 80 machinery-related auctions they've got coming US and Canada through April. Fantastic variety, like Luke said, literally something for everybody. And uh again, hats off to the extent you guys go to with Ritchie Bros, Luke, to get the buyers in there, flowing the listings into machinerypete. com. So folks, keep an eye out there and Luke, you get some sleep and uh we will be watching all these great sales you have unfold and we will uh talk soon. I think we're going to also have you on a Moving Iron podcast with uh our friend Casey Seymour as well. — Absolutely. I'm excited for that and again, thanks to you, um and thanks for allowing us to team up with you and I'm sure there's good things to come.