Rock to Road

News
Ritchie Bros. sells 10,000+ in Edmonton auction


May 2, 2016
By Andrew Macklin

May 2, 2016 – From April 26 – 30, 2016, Ritchie Bros. sold 10,200+ equipment items and trucks for CA$240+ million at its 200-acre Edmonton, Alta. auction site, making it the company’s largest Canadian auction ever and the second-largest auction in company history. The five-day auction attracted 16,700+ bidders from 55 countries—a new company record, surpassing the previous record by 19 per cent.

Approximately 84 per cent of the equipment was sold to Canadian buyers (by dollar value), including 46 per cent sold to Alberta buyers. More than 13 per cent of the equipment was sold to buyers from the United States.

Over 1,125 companies sold equipment in the auction, including Newcom Earthmovers Ltd. The Brooks, Alta.-based earthworks construction contractor sold 400+ items in the Edmonton auction as part of a complete dispersal.

“Ritchie Bros. is a one-stop shop—they know the market and they have resources no one can touch,” said Harold Ward, president and owner of Newcom Earthmovers. “We’ve been buying and selling here since we started the company 12 years ago. With the changing landscape here in Alberta we thought it would be a good time for us to sell and we’re happy with the result.”

More than 6,150 people (37 per cent) registered to bid in person, while 10,550+ people (63 per cent) registered to bid online—both of which are new company records. More than CA$140 million of equipment was sold to online buyers (58 per cent)—also a new company record.

One highlight of the auction was the charity auction of two classic cars donated by Edmonton couple Reno and Jane Trentini. The cars sold for a combined CA$182,500 with all proceeds donated to two charitable organizations: the MS Society and the Edmonton Community Foundation.