Rock to Road

News
Ritchie Bros. Breaks $1 Billion Mark


December 19, 2012
By Aggregates and Roadbuilding

December 18, 2012, Edmonton, Alta. –
Ritchie Bros. Auctioneers has sold more than CA$1 billion of equipment and
trucks in its Canadian auctions to date in 2012, the first time the Company has
achieved this mark in Canada in a single year in its 54-year history.

December 18, 2012, Edmonton, Alta. –
Ritchie Bros. Auctioneers has sold more than CA$1 billion of equipment and
trucks in its Canadian auctions to date in 2012, the first time the Company has
achieved this mark in Canada in a single year in its 54-year history. The new
record was set at Ritchie Bros.’ unreserved public auction in Edmonton, AB on
December 13 – 14, 2012. More than CA$60 million (US$61+ million) of equipment
and trucks was sold in the Edmonton auction, with all items being sold to the
highest bidders regardless of price, without minimum bids or reserve prices.


Advertisment

“This has been a monumental year for
Ritchie Bros. in Canada. Not only have we sold more than $1 billion of
equipment in Canada alone in 2012, but also we held our largest Canadian
auction in Edmonton, AB last April as well as our largest auctions in
Saskatchewan and Quebec earlier this month,” said Kevin Tink, Senior Vice
President, Sales, Ritchie Bros. Auctioneers. “None of these records could have
been achieved without the thousands of equipment buyers and sellers that
participate in our Canadian auctions from across the country and around the
globe. For example, we sold more than $60 million of equipment at our Edmonton
auction last week for more than 550 sellers and attracted more than 4,700
bidders from 42 countries. As an example of our global reach, one lot, in
particular, had bids from all over the world, including: Russia, South Africa,
Sweden, California, Pennsylvania, Quebec and Alberta. It’s this ability to
attract a global audience that allows us to achieve true market value for all
the equipment we sell in Canada and at all our auctions around the world.”


More than 3,400 equipment items were sold
in the two-day Edmonton auction, including equipment for Richardson Bros.
(Olds) Ltd., an Alberta-based heavy construction contractor.


“I have sold equipment in every Edmonton
auction in the past two years—and they hold six auctions a year,” said Frank
Richardson, President of Richardson Bros. (Olds) Ltd. “I update my equipment
every 6,000 hours and I sell through Ritchie Bros. because the service they
provide is second-to-none and we are always on the same wavelength when it
comes to the values for my equipment—they are very professional. Prices were
very competitive in this week’s Edmonton auction—I sold several pieces of
equipment and was happy with the results. I actually bought a piece of
equipment in the auction as well.”


Other highlights from 2012 Canadian
auctions include:


Largest Canadian auction in Ritchie
Bros. history


In April 2012, Ritchie Bros. conducted its
largest ever Canadian auction, selling more than $108 million of equipment in
three days in Edmonton, AB. In total, more than 5,600 equipment items and
trucks were sold in the auction, which was also a new Canadian record for the
Company.


More than 6,900 people from 37 countries
registered to bid in person or online in the auction. Close to 2,300 of the
bidders taking part in the auction registered to bid online and purchased more than
$38 million of equipment, a new Canadian record for online gross auction
proceeds.


Largest Saskatchewan auction in Ritchie
Bros. history


Ritchie Bros. actually set the record for
its largest Saskatchewan auction twice in 2012. On April 18, 2012 the Company’s
Saskatoon site celebrated its grand re-opening and set a regional record at the
same auction—selling more than $25 million of agricultural equipment at the
auction.


Eight months later, on December 4,
Saskatoon broke its own record—selling more than $30 million of agricultural
equipment. This one-day auction attracted more than 3,500 registered bidders
from 28 countries. Bidders from outside Saskatchewan purchased close to $11
million or 36 percent of total gross auction proceeds. This auction also set a
new company record for most combines sold in a single auction, with 126 sold.


Largest Quebec auction in Ritchie Bros.
history


A day after the record-breaking Saskatoon
December auction, Ritchie Bros. held its largest Quebec auction on December 5 –
6, 2012. The Company sold more than $42 million of equipment during the two-day
auction.


More than 4,300 people from 34 countries
registered to bid in person or online in the Montreal, QC auction. Bidders from
outside Quebec purchased more than $21 million or 51 percent of total gross
auction proceeds. More than 1,450 of the bidders taking part in the auction
registered to bid online (34 percent) and purchased more than $12 million of
equipment.



The Ritchie Bros. auction calendar
currently features more than 70 unreserved public auctions around the world,
including its last two Canadian auctions of 2012 in Clayhurst, B.C. (December
18) and Prince George, B.C. (December 19). Ritchie Bros. last auction of 2012
will be held in St. Louis, MO this Thursday, December 20. Visit www.rbauction.com for a complete list of upcoming
auctions.