Ritchie Bros. holds record-breaking auction
By Andrew Macklin
May 4, 2015 – Ritchie Bros. sold more than $215 million of heavy equipment and trucks at an unreserved public auction in Edmonton, AB from April 28 – May 1, 2015, making it the largest Canadian auction in Company history. The auction broke multiple other Company records, including global records for online sales ($105+ million), total number of registered bidders (14,000+), number of online bidders (8,150+), total number of buyers (3,200+) and number of online buyers (1,850+), as well as a new Canadian record for number of lots sold (7,700+).
“This auction was certainly one for the record books,” said Randy Wall, President, Canada, Ritchie Bros. “With more than 14,000 registered bidders from more than 55 countries, we surpassed our previous global bidder record by more than 4,550 people. As a result of the high bidder turnout and the strength of the transportation, construction, forestry and other sectors in Alberta, the rest of Canada and abroad, we saw strong pricing at the auction, despite continued market concerns surrounding lower oil prices. In particular we saw great pricing on all general construction, transportation, and aerial equipment, as well as all rental-related equipment.”
The Edmonton auction, Ritchie Bros.’ first-ever four-day auction in Canada, attracted bidders from over 55 countries, including every Canadian province, two territories and 48 U.S. states. More than $192 million, or 89 percent of the equipment, was purchased by Canadian buyers, including 51 per cent purchased by buyers from Alberta. The rest of the equipment was sold to buyers from around the world, as far away as the United Arab Emirates, Germany, Egypt, Malaysia, Thailand, Poland and the Netherlands.
Ritchie Bros. sold equipment for 760+ sellers, including a complete dispersal for Earth & Iron Inc. and a fleet realignment for A-1 Rentals.
The record-setting selection of heavy equipment and trucks included 240+ excavators, 225+ crawler tractors, 200+ compactors, 100 articulated dump trucks, 80+ wheel loaders, 70+ motor graders, 40+ motor scrapers, 50 agricultural tractors, 195 truck tractors and more. Every item was sold to the highest bidder on auction day, with no minimum bids or reserve prices.