Ritchie Bros. sells CA$101+ million in October Edmonton auction

12,700+ people registered to bid on the 8,800+ items; approx. 68% of items sold online

EDMONTON, Nov. 4, 2019 /PRNewswire/ - Just seven weeks after selling 10,700+ items, Ritchie Bros.' Edmonton team was back this week with another five-day auction, selling 8,800+ items for 1,100+ owners and achieving CA$101+ million (US$76+ million) in gross transactional value.

More than 12,700 people from 51 countries registered to bid in the October 28 – November 1, 2019 event, including 10,900+ online bidders. Approximately 91 percent of the equipment in the auction was sold to Canadian buyers, with buyers from Alberta purchasing 56 percent, while international buyers from countries such as Egypt, the Netherlands, and Peru purchased nine percent of the equipment. Online bidders purchased 68 percent of the equipment.

"We witnessed strong participation from outside of Western Canada on core construction and transportation assets as Alberta companies continue to right size their fleets for current market conditions," said Brian Glenn, SVP, Head of Canadian Sales, Ritchie Bros. "We also sold more than $7 million in commercial, residential, and agricultural real estate in this auction, including a 137± acre property in Olds, AB with a home and shop for $1.3 million and a 79± acre hobby farm located near Elk Island Park for $900,000."

Mr. Glenn continued, "We would like to thank all our consignors for trusting Ritchie Bros. to deliver solid results for their assets—whether it be equipment or real estate—by delivering world class marketing and a truly global buying audience."

One of the big sellers in the auction was Battle Team Holdings, selling a selection of dozers, excavators, and more.

"We've been working Ritchie Bros. for years—I have a ton of respect for them and the job they do to ensure our equipment gets the highest prices available on auction day," said Wayne Battle, President, of Battle Team Holdings. "We are happy with the results achieved on our equipment last week and look forward to continuing our longstanding relationship with the Ritchie Bros. team, whether we are buying or selling."

Sales highlights included:

• Two 2018 John Deere 950K LGP dozers that sold for a combined CA$740,000
• A 2018 John Deere 870G LC hydraulic excavator that sold for CA$700,000
• A 2019 Tigercat X870D feller buncher that sold for CA$530,000
• A 2005 Madill 2850C log loader that sold for CA$325,000
• A 2012 Caterpillar 160M2 AWD VHP motor grader that sold for CA$305,000
• A 2015 Peterbilt 367 tri-drive hydro vac truck that sold for CA$255,000
• An unused 2015 Kenworth C500 T/A T/A bed truck cab & chassis that sold for CA$250,000

AUCTION QUICK FACTS: EDMONTON, AB (October 2019)

• Total gross transactional value – CA$101+ million (US$77+ million)
• Amount sold to online bidders – CA$68+ million (US$52+ million)
• Total registered bidders (in person and online) – 12,700+ 
• Registered online bidders – 10,900+
• Total lots sold – 8,800+ 
• Number of sellers – 1,100+ 

Ritchie Bros. currently has more than 55,000 equipment items, trucks, and other assets listed for sale across all its auctions and 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 number 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 the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled 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's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy Auctioneers, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

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

SOURCE Ritchie Bros. Auctioneers

Related Links

http://www.rbauction.com