Ritchie Bros.' Edmonton equipment sales up 15 percent for 2018

More than 41,400+ items were sold for CA$639+ million over six auctions in Edmonton this year

EDMONTON, Dec. 14, 2018 /PRNewswire/ - Ritchie Bros. held its sixth and final auction of the year in Edmonton this week, selling CA$82+ million (US$62+ million) of equipment and trucks over three days, bringing its 2018 total to 41,400+ items sold for CA$639+ million (US$491+ million)—up 15 percent from 2017.

The December 11 – 13, 2018 auction attracted more than 9,350+ bidders from 50 countries, including 7,500+ people who registered to bid online. Approximately 87 percent of the equipment was sold to Canadian buyers, including 75 percent sold to Western Canadians. International buyers from such countries as Malaysia, Australia, and the United Kingdom purchased 13 percent. Online buyers purchased approximately 66 percent of the assets sold.  

"2018 has been a year of changes and challenges for many of our customers in Western Canada, resulting in a lot of buying and selling activity," said Brian Glenn, SVP, Head of Sales Canada, Ritchie Bros. "This week in Edmonton we witnessed pricing pressure on oil & gas industry-specific assets as customers across this sector are positioning themselves for fluctuating activity levels heading into 2019. Meanwhile, core construction assets continued to bring solid returns in a still-challenging supply market. Forestry and highway transportation-related assets also performed well this week, continuing a trend we've seen over the last number of events in Western Canada."

Mr. Glenn continued, "We would like to thank all the customers who continue to put their trust in Ritchie Bros. to deliver unmatched selection and our ability to market and re-deploy their assets to buyers around the world."                                                                                                       

More than 760 owners sold equipment in the Edmonton December auction, including a selection of late-model heavy construction equipment from Richardson Bros. Olds Ltd., a heavy civil service contractor based in Olds, Alberta.

"Once again Ritchie Bros. did a great job selling our equipment," said Frank Richardson of Richardson Bros. Olds Ltd. "We've been selling with Ritchie Bros. for years and keep coming back because the values they get us are better than anything we're offered for trade ins. They have a really good understanding of the market and their auctioneers always do their best to get us every last bid."

Auction quick facts: Edmonton, AB (December 2018)

• Gross transactional value – CA$82+ million (US$62+ million)   
• Amount sold to online bidders – CA$54+ million (US$41+ million)
• Total registered bidders (onsite and online) – 9,350+
• Online registered bidders – 7,500+
• Number of lots sold – 5,000+
• Number of sellers – 760+

2018 EDMONTON, AB TOTALS

• Total gross transactional value – CA$639+ million (US$491+ million) 
• Amount sold to online bidders – CA$407+ million (US$310+ million)
• Total registered bidders (onsite and online) – 60,500+
• Online registered bidders – 45,350+
• Number of lots sold – 41,400+

Ritchie Bros. currently has more than 40,000 equipment items, trucks, and other assets listed for sale in its upcoming onsite unreserved auctions, IronPlanet weekly online auctions, Marketplace-E and its other marketplaces. For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com.

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; Marketplace-E, 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. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

SOURCE Ritchie Bros. Auctioneers

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