Ritchie Bros. holds successful Edmonton auction
By Andrew Macklin
June 17, 2016 – After just three auctions in 2016, Ritchie Bros.’ Edmonton, AB team has already sold $451+ million of equipment and trucks—a 14 per cent increase in sales compared to the same period last year. This includes a $91+ million auction held this week at the Edmonton site (June 14 – 16, 2016).
More than 8,400 people from 45+ countries registered to bid in this week’s Edmonton auction. More than 87 per cent of the equipment sold to Canadian buyers (by dollar value), including approximately 55 per cent sold to Albertans; about 10 per cent sold to U.S. buyers. Online buyers purchased 61 per cent ($55+ million) of equipment.
“With our third auction of the year we continue to see record amounts of equipment coming to our Edmonton site, showcasing the trust Albertans have in our ability to deliver results, even during a slowdown,” said Brian Glenn, Senior Vice President, Ritchie Bros. “We saw a considerable amount of participation online this week from across Canada and around the world. While increasing U.S. participation in Canadian auctions is certainly helping us achieve solid returns for local Alberta sellers, it’s important to note that Canadians continue to be the strongest buyers at our Edmonton auctions, with particularly high participation from B.C. and Saskatchewan.”
More than 7,700 items were sold in the June 14 – 16 Edmonton auction, bringing the 2016 total for Edmonton to 25,200+ items sold in just three auctions. Sales highlights in this week’s auction included:
- A 2013 Caterpillar 16M VHP plus motor grader sold for $575,000
- A 2013 Caterpillar 349EL hydraulic excavator sold for $405,000
- A 2010 CMI C400 mulcher sold for $235,000
- A 2015 Kenworth T800 tri-drive sleeper winch tractor sold for $170,000
Note: Access to two years of equipment prices is available with a free web account at rbauction.com.
Auction quick facts: Edmonton, AB (June 2016)
- Gross auction proceeds – $91+ million
- Amount sold to online bidders – $55+ million
- Total registered bidders (onsite and online) – 8,400+ bidders from 45+ countries
- Online registered bidders – 5,900+
- Number of lots sold – 7,700+
- Number of sellers – 1,000+
Ritchie Bros. will conduct three more Edmonton auctions in 2016; the next will be held on September 7–9.