Rock to Road

News
Heavy equipment auction success in Edmonton


June 12, 2015
By Andrew Macklin

June 12, 2015 – Ritchie Bros. has continued to find success with its heavy equipment auctions based in Edmonton. At this past week’s auction, held June 9-11, Ritchie Bros. sold $96+ million of heavy equipment and trucks. The auction attracted 6,950+ bidders from 45+ countries, including 4,500+ online bidders (65 per cent).

So far in 2015, Ritchie Bros. has conducted three auctions and sold a combined $395+ million of equipment in Edmonton—compared to $304+ million during the first six months of 2014. Three more Edmonton auctions are scheduled for 2015.

“This week we saw strong pricing on construction and transportation assets, in particular articulated dump trucks, late-model bed and boom trucks, and specialized drilling equipment sold very well,” said Ryan Eacrett, regional sales manager for Ritchie Bros. Auctioneers. “However, we are starting to see signs of pressure in the local market as current conditions in the oil & gas sector are starting to effect pricing in specific equipment categories. We will continue to carefully watch the impact of lower oil prices on our customers and the market.”

More than $86 million or 90 per cent of the equipment was purchased by Canadian buyers, including 57 per cent purchased by Albertans. Equipment sold to buyers from as far away as Egypt, Singapore, Peru, Turkey and the United Arab Emirates.

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Ritchie Bros. sold equipment in the Edmonton auction for 930+ sellers, including a complete dispersal for TICA Enterprises Ltd., a family-operated company servicing the oil and gas sector for 25 years.

“Once we decided to retire and explore new options we knew we would sell with Ritchie Bros.,” said Tim Cabay, owner of TICA Enterprises. “We started with one grader 25 years ago and grew from there. Ritchie Bros. helped us immensely along the way by having all the equipment we needed to complete projects. We’ve formed strong relationships with Ritchie Bros. staff and are pleased with all the support they have provided.”

More than 5,800+ equipment items were sold this week in Edmonton, including 145+ excavators, 80+ crawler tractors, 70+ compactors, 55+ wheel loaders, 30 articulated dump trucks, 95+ flatbed trucks, 60+ boom trucks, 55+ dump trucks, 40+ winch tractors, 45 agricultural tractors, 185+ truck tractors, 530+ trailers, 260+ pickup trucks, and more.