Rock to Road

News
Edmonton auction raises over $84 million


February 27, 2015
By Rock to Road

Feb. 27, 2015 – Ritchie Bros. sold over 4,600 equipment
items and trucks for over $84 million Cdn. at an unreserved public auction in
Edmonton, AB this week, making it the Company's largest Canadian auction ever
held in February. The two-day auction, held February 25 – 26, 2015, attracted over
8,700 bidders from 43 countries, including 5,250+ online bidders. Equipment
sold included 130+ excavators, 75+ truck tractors, 55+ crawler tractors, 40+
boom trucks, 30+ wheel loaders, 30+ winch tractors, 380+ trailers and more.

Feb. 27, 2015 – Ritchie Bros. sold over 4,600 equipment
items and trucks for over $84 million Cdn. at an unreserved public auction in
Edmonton, AB this week, making it the Company's largest Canadian auction ever
held in February. The two-day auction, held February 25 – 26, 2015, attracted over
8,700 bidders from 43 countries, including 5,250+ online bidders. Equipment
sold included 130+ excavators, 75+ truck tractors, 55+ crawler tractors, 40+
boom trucks, 30+ wheel loaders, 30+ winch tractors, 380+ trailers and more.

 

"We had a great asset mix for this auction which
attracted one of our biggest crowds ever onsite and online," said Jim
Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "The
results of this week's auction showed the ability of Ritchie Bros. to transcend
local market conditions and combine the strengths of construction, forestry and
other sectors to overcome the effects of lower oil prices. By bringing together
equipment buyers from different sectors and geographies we were able to achieve
strong results for our sellers."

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Equipment in the auction was sold for 450+ sellers,
including Iron Brothers Ltd., a Nisku-based piling contractor serving the oil
& gas sector since 2007.

 

"We are extremely happy with the prices we received for
our equipment this week. It's great to see that despite concern in the market,
companies are still spending money and purchasing good quality equipment,"
said Brad Stetler, President of Iron Brothers Ltd. "We sell with Ritchie
Bros. every year as we upgrade our fleet. Ritchie Bros. offers the best
advertising and exposes our equipment to the largest audience across multiple
sectors."

 

More than $38 million Cdn. of equipment was sold to buyers
from outside Alberta, including over $12 million Cdn. sold to buyers from
outside the country. Equipment sold to buyers from as far away as Switzerland,
Costa Rica, Peru and the United Arab Emirates. Online bidders purchased over
$45 million of equipment or 53% of total sales.

 

The Ritchie Bros. auction calendar currently features 125+
unreserved public auctions around the world, including the Company's first-ever
four-day Edmonton auction (April 28 – May 1, 2015).