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February 28, 2014

Ritchie Bros. sells more than CA$57 million in first Canadian auction of 2014

EDMONTON--Ritchie Bros. Auctioneers sold more than CA$57 million (US$51.5+ million) of equipment and trucks at its first Canadian auction of 2014, held at its permanent auction site in Edmonton, AB on February 26 - 27, 2014. Close to 3,800 equipment items and trucks were sold in the two-day auction, including a large selection of oilfield hauling equipment, as well as construction, transportation and other heavy equipment items. Every item was sold unreserved, without minimum bids or reserve prices. Bids were made in person at the Edmonton auction site, online in real time at rbauction.com and by proxy.

"Pricing was solid and bidding was very active throughout the two-day auction," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "In particular we witnessed strong demand for the heavy yellow iron in the auction—wheel loaders, motor graders, crawler tractors and excavators—as well as the bed and rig moving trucks. It was our first time holding an auction in February and even though it was very cold this week in Edmonton, our onsite attendance was still strong. We saw good participation both onsite and online, with 41% of the equipment purchases made by online buyers."

Almost 5,500 bidders from 49 countries, including all Canadian provinces, two Canadian territories and 37 US states, registered to bid in person or online for the Edmonton auction this week with CA$42.5+ million (US$38+ million) of equipment purchased by Alberta buyers. Thirty-three hundred (3,300) online bidders registered for the auction and purchased CA$23+ million (US$21+ million) of the equipment available online.

AUCTION QUICK FACTS: EDMONTON, AB--FEBRUARY 26 - 27, 2014

•Total Gross Auction Proceeds - CA$57+ million (US$51.5+ million)
•Amount sold to online bidders - CA$23+ million (US$21+ million)
•Unique bidders (onsite and online total) - almost 5,500
•Unique online bidders - 3,300
•Lots sold - close to 3,800
•Number of sellers - 450+

The Ritchie Bros. auction calendar currently features 130+ unreserved public auctions around the world, including the Company's next Edmonton unreserved public auction, which is scheduled for April 23 - 25, 2014.

"Our April auction is typically the largest auction we conduct in Canada throughout the year," added Rotlisberger. "Momentum is already building and it should be an exciting event. Anyone interested in selling their equipment in the April sale should call our auction site at +1.780.955.2486."

Established in 1958, Ritchie Bros. is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries

 

 

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