More than 4,450 items were sold for 700+ sellers as part of the unreserved public auction - including a luxury Edmonton condo for Ritchie Bros. co-founder Dave Ritchie
EDMONTON, June 14, 2013 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold CA$60+ million (US$59.5+ million) of heavy equipment, property and trucks during a two-day unreserved public auction at its permanent auction site in Edmonton, Alberta, on June 12 - 13, 2013. More than 4,450 items were sold to the highest bidders regardless of price—without minimum bids or reserve prices. Bids were made in person at the Edmonton auction site, online in real time at www.rbauction.com or by proxy.
One of the notable items sold in the auction was Ritchie Bros. Auctioneers co-founder Dave Ritchie's personal luxury condominium, located in the heart of Edmonton, which sold for CA$3.25 million (US$3.19 million).
"I was happy with everything and how it worked out," said Mr. Ritchie. "The unreserved auction is a system that works. In the Ritchie Bros. system, it's the honesty and integrity that makes it - we don't bid on anything, we don't buy back and we don't let the customers bid on their own merchandise. I believe the condo sold for a reasonable price and everyone is happy at the end of the day."
More than 4,850 bidders from 39 countries, including all Canadian provinces and two territories and 41 US states, registered to bid in person or online for the auction. CA$45+ million (US$44+ million) of equipment was purchased by Alberta buyers, while participants from outside Alberta purchased CA$15+ million (US$14+ million) of equipment or close to 25 percent of total gross auction proceeds. More than 2,500 of the bidders participated online and purchased CA$20+ million (US$20+ million) of equipment online.
"Our auction featured a large and diverse audience which generated competitive bids for all auction items and resulted in in-person and online registered buyers from as far away as Australia, France and Thailand," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "This auction really demonstrated the diverse range of quality items that Ritchie Bros. is known to offer its buyers—from the luxurious Edmonton condo of our co-founder Dave Ritchie to the 195 pickup trucks, 100+truck tractors, 65+ hydraulic excavators, 50+ articulated dump trucks, 50 crawler tractors, 45+ flatbed trucks, 30+ dump trucks, 30+ wheel loaders, 15 motor graders and more—and it's this selection that regularly attracts buyers from near and far to our auctions."
AUCTION QUICK FACTS: EDMONTON, AB -- JUNE 12-13, 2013
- Gross Auction Proceeds - CA$60+ million (US$59.5+ million)
- Amount sold to online bidders - CA$20+ million (US$20+ million)
- Unique bidders (onsite and online total) - 4,850+
- Unique online bidders - 2,500+
- Lots sold - 4,450+
- Number of sellers - 700+
The Ritchie Bros. auction calendar currently features 84 unreserved public auctions around the world, including the Company's next unreserved public auction in Edmonton, AB, which is scheduled for September. Visit www.rbauction.com for a complete list of upcoming auctions.
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. TM solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOneTM secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.
SOURCE Ritchie Bros. Auctioneers