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Auction generates $94 million in equipment sales

October 31, 2017 – Ritchie Bros., a global asset management and disposition company, sold more than 6,800 pieces of equipment and trucks last week in Edmonton for more than $94 million (more than $73 million U.S.). Sales were generated during a four-day auction that attracted more than 9,850 bidders from 47 countries, including more than 7,300 online bidders.

Canadian buyers were responsible for 92 per cent of the equipment purchased in the auction, including 58 per cent from Alberta, 19 per cent from British Columbia and nine per cent from Saskatchewan. International buyers from such foreign countries as the United Kingdom, Hong Kong and New Zealand purchased eight per cent of the items sold. About 63 per cent of the total equipment sold was purchased by online bidders.

“We saw very active bidding onsite and online, with strong pricing through most equipment categories,” said Trent Vandenberghe, sales director, Ritchie Bros. “We achieved strong price increases year over year for oil and gas transportation assets, including picker, bed and fluid hauling trucks. Meanwhile construction sector equipment supply constraints continue to positively impact pricing. We also saw solid pricing for the transportation, forestry, and agricultural equipment in the auction, particularly the late-model equipment available.”

The auction featured equipment from more than 1,000 owners, including nine Caterpillar crawler tractors sold for Lloydminster, Sask.-based Garfield Diesel Repair Ltd.

“I brought my equipment to Ritchie Bros. because of the wide exposure they provide through their marketing and website,” said Jim Holowachuk, owner of Garfield Diesel Repair and Cinco Developments Ltd. “They are able to reach bidders across Canada and around the world – two of my dozers sold to buyers in Saskatchewan and one went to British Columbia. I’m happy with the results; prices were good. I would recommend Ritchie Bros. to anyone – their team is dedicated to providing quality, professional customer service and communication, 24 hours a day.”

Equipment highlights in the Edmonton October auction included more than 80 excavators, more than 70 skid steers, more than 65 compactors, more than 55 dozers, 40 loaders, more than 75 flatbed trucks, more than 60 boom trucks, 175 truck tractors, more than 650 trailers, and more. All items were sold without minimum bids or reserve prices.

Auction quick facts: Edmonton, AB (October 2017)

• Gross transactional value – CA$94+ million (US$73+ million)
• Amount sold to online bidders – CA$59+ million (US$46+ million)
• Total registered bidders (onsite and online) – 9,850+
• Online registered bidders – 7,300+
• Number of lots sold – 6,800+
• Number of sellers – 1,000+

Consignments are now being accepted for Ritchie Bros.’ final Edmonton auction of the year, Dec. 7-8. To sell equipment in the auction, contact the Edmonton site directly at (780) 955-2486.

For information all upcoming Ritchie Bros. and IronPlanet auctions, visit www.rbauction.com and www.IronPlanet.com.