Ritchie Bros. sells $66M in equipment in final 2017 Edmonton auction
By Ritchie Bros. Auctioneers
By Ritchie Bros. Auctioneers
December 11, 2017 – With its sixth and final Edmonton auction of the year last week, Ritchie Bros. sold 4,500+ equipment items and trucks for CA$66+ million (US$52+ million), bringing the site’s 2017 total to 37,000+ items sold for CA$553+ million (US$421+ million).
More than 7,850 bidders registered to participate in last week’s (December 7 to 8) Edmonton auction, including 5,850+ online bidders. Approximately 89 percent of the equipment in the auction was sold to Canadian buyers, with bidders from Alberta (58%), British Columbia (12%), and Saskatchewan (9%) being the biggest Canadian participants, while international buyers from countries such as Egypt, Poland, and Hong Kong purchased 11 percent of the equipment. More than 71 percent of the equipment in the auction was sold to online buyers.
“Online and onsite bidders were eager to snatch up equipment for winter work, resulting in strong pricing both days of the auction last week,” said Trent Vandenberghe, sales director, Ritchie Bros. “We continue to see relatively tight equipment supply as many companies are hanging on to surplus equipment in anticipation of upcoming projects. This continues to result in higher demand at our auctions and an uptick in pricing across many equipment categories.”
Equipment in the December auction was sold for close to 700 owners, including 35 items for the Alberta-based, family-owned, oilfield transportation company Calnash Trucking Ltd., in business for 45 years.
“Ritchie Bros. is a first-class company to deal with,” said Kevin Nashim, president of Calnash Trucking. “Their auctions are well-organized, their advertising gets you top dollar for your equipment, and they’re just good people to work with.”
Auction quick facts: Edmonton, Alta. (December 2017)
•Gross transactional value – CA$66+ million (US$52+ million)
•Amount sold to online bidders – CA$47+ million (US$37+ million)
•Total registered bidders (onsite and online) – 7,850+
•Online registered bidders – 5,850+
•Number of lots sold – 4,500+
•Number of sellers – 698
2017 Edmonton, Alta. totals:
•Total gross transactional value – CA$553+ million (US$421+ million)
•Amount sold to online bidders – CA$342+ million (US$262+ million)
•Total registered bidders (onsite and online) – 56,100+
•Online registered bidders – 40,200+
•Number of lots sold – 37,000+
“We helped tens of thousands of customers through our Edmonton auction site in 2017,” said Mr. Vandenberghe. “From everyone at Ritchie Bros., we would like to thank you for your patronage and look forward to seeing you again in 2018.”
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company’s selling channels include: Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance® equipment condition certification; Marketplacee, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet,Kruse Energy Auctioneers, and Cat auctions, plus equipment financing and leasing through Ritchie Bros. FinancialServices. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.