Three-day auction attracts 9,000+ bidders from 49 countries; 67% of equipment sold online
EDMONTON, Sept. 7, 2018 /PRNewswire/ - Ritchie Bros. started September strong, with a CA$78+ million (US$60+ million) auction in Edmonton, AB this week, selling equipment for more than 1,000 consignors.
The three-day auction (September 4 ? 6, 2018) attracted more than 9,000 bidders from 49 countries, including 6,850+ people that registered to bid online. Approximately 88 percent of the equipment was sold to Canadian buyers, including 56 percent sold to Alberta. International buyers from such countries as the United States, Singapore, and New Zealand purchased 12 percent. Online buyers purchased approximately 67 percent (CA$53+ million or US$40+ million) of the assets sold.
"We continued to see strong pricing for equipment and trucks in this week's auction," said Trent Vandenberghe, Regional Sales Manager, Ritchie Bros. "Transportation pricing remains solid and bidding on heavy construction equipment was very active, showcasing depth in the market for this equipment right now. Oilfield transportation equipment also delivered solid results, as contractors looking ahead to fall and winter work start to upgrade their fleets."
In total, more than 7,650 items were sold in the Edmonton auction, including 200+ truck tractors, 130+ compactors, 100+ skid steer loaders, 80+ excavators, 70+ flatbed trucks, 50+ dump trucks, 40+ dozers, 40+ loaders, 40+ boom trucks, 25+ farm tractors, and more. All items were sold without minimum bids or reserve prices.
"The auction was great, prices exceeded our expectations," said Jason Weinberger, President of W Corporation, who sold 75+ items as part of a complete dispersal of his company's trucking and drilling division. "We chose Ritchie Bros. because of the size and scope of their audience. I saw our equipment get bids from across Canada, as well as Mexico, and Colombia. The whole team at Ritchie provided excellent customer service and followed through on their promises."
Specific sales highlights include:
Auction quick facts: Edmonton, AB (September 2018)
Ritchie Bros. currently has more than 50,000 equipment items, trucks, and other assets listed for sale in its upcoming onsite unreserved auctions, IronPlanet weekly online auctions, Marketplace-E and its other marketplaces. For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com.
About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance® equipment condition certification; Marketplace-E, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat® auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.
Photos and video for embedding in media stories are available at rbauction.com/media.
SOURCE Ritchie Bros. Auctioneers
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