News Details

View all news

Ritchie Bros. kicks off March with big auctions in Edmonton and the U.S. Rocky Mountain region

03/07/2022

The two online auctions attracted 26,250+ bidder registrations & US$95M+ in combined GTV

VANCOUVER, BC, March 7, 2022 /CNW/ - A week after selling 11,000+ items in Orlando, FL, Ritchie Bros. was right back at it with multi-day online auctions in Edmonton, AB and the Rocky Mountain region of the U.S. The two unreserved auctions attracted a combined 26,250+ bidder registrations and US$95+ million in gross transaction value.

On March 2 – 3 Ritchie Bros. sold 3,700+ equipment items from five locations in one Rocky Mountain regional event. Highlights included a 2017 CMI Bandit 12 portable dry-mix concrete plant that sold for US$500,000; a 2012 Grove TMS9000E 110-ton 8x4 hydraulic truck crane that sold for US$340,000, and a 2015 Caterpillar 160M3 AWD motor grader that sold for US$275,000.

"We achieved excellent results in last week's Rocky Mountain regional event, resulting in a lot of very happy consignors, many of whom are eager to sell again soon," said Chad Apland, Regional Sales Manager (Denver), Ritchie Bros. "Immediately following the auction we began receiving calls from customers asking how quickly they can get their equipment on the market to take advantage of the strong pricing we are achieving today. We have IronPlanet sales every Thursday, our Marketplace-E platform is stocked 24/7 with premier assets, and our next Rocky Mountain regional event will be in May—whatever you need, we are here to help!"

Ritchie Bros. also held its first Edmonton, AB auction of 2022 last week, selling CA$59+ million (US$46+ million) of trucks and equipment on March 1 – 3. Sales highlights included a 2012 Caterpillar D6T LGP dozer that sold for CA$317,000 (US$248,888); a 2021 Kenworth T800 8x6 truck tractor that sold for CA$295,000 (US$231,251); and a 2018 Hitachi ZX225US-6 hydraulic excavator that sold for CA$267,5000 (US$209,693).

"I think Ritchie Bros. is the benchmark for selling equipment, with the reputation they have built and the services they provide," said Jim Bardick of J&V Trucking Ltd., who conducted a fleet realignment in last week's Edmonton auction. "Their financial arm is a huge advantage for sellers and a great benefit for buyers. Most banks are so restrictive, but Ritchie Bros. Financial Services understands equipment and auctions, which is very important when items are selling for a premium. At the end of the sale, we had exceeded expectations and were very proud of how Ritchie Bros. represented our company and our equipment."

Ritchie Bros. has more than 60,000 items listed in its upcoming auctions and online marketplaces, including a three-day Fort Worth, TX auction with 4,000+ items on March 15 – 17 and a six-day Edmonton site auction in early May.

"We already have a big complete dispersal from Crow Enterprises consigned to our May Edmonton sale, with some excellent dirt moving equipment," said Trent Vandenberghe, Regional Sales Manager (Edmonton), Ritchie Bros. "The recent rise in oil prices is driving new exploration in Alberta and increased demand for oil & gas-related equipment. Now is a great time to sell—please don't hesitate to contact us so we can start advertising your assets to the world."

AUCTION QUICK FACTS


Rocky Mountain Regional Event (Mar. 2 – 3, 2022)

Edmonton, AB (Mar. 1 – 3, 2022)

Gross Transaction Value

US$49+ million

CA$59+ million (US$46+ million)

Total Registered Bidders

11,000+ from 49 countries

15,200+ from 51 countries

Number of Lots

3,700+

4,500+

Number of Consignors

600+

690+

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE: RBA) (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 number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. FinancialServices. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media

Cision View original content:https://www.prnewswire.com/news-releases/ritchie-bros-kicks-off-march-with-big-auctions-in-edmonton-and-the-us-rocky-mountain-region-301496486.html

SOURCE Ritchie Bros.

Categories: Press Releases
View all news