Ritchie Bros. regional events in U.S. Northeast and the Great Lakes bring in US$87+ million combined

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Dec 20, 2021, 07:00 ET

8,800+ items sold from nine locations in two online events attracted 19,700+ registered bidders

NORTH EAST, Md., Dec. 20, 2021 /PRNewswire/ - Ritchie Bros. regional auctions continue to drive unprecedented demand, with the company's latest events in the U.S. Northeast and the Great Lakes generating US$45+ million and US$42+ million in gross transaction value.

"Good quality, ready-to-work equipment and trucks are bringing record prices right now," said Jason Kirkconnell, Regional Sales Manager, Ritchie Bros. "For our Northeast Regional Event, we signed up a few great packages early on, attracting a diverse lineup of consignments, including forestry gear, pipeline equipment, and some beautiful, late-model trucks. Right now, we are seeing particularly strong returns for transportation equipment, with some used truck tractors bringing higher than retail prices. If you have equipment and trucks to sell, I encourage you contact us today!"

The December 14 – 16, 2021 Northeast Regional Event featured 4,600+ items sold from five locations in North East, MD; North Franklin, CT; Pittsburgh, PA; Raleigh-Durham, NC; and Amma, WV. The three-day online auction attracted 10,100+ bidders from 68 countries. Approximately 95% of the items in the auction were purchased by U.S. buyers, including 14% sold to Pennsylvania, 10% to Maryland, and 7% to New Jersey. The remaining 5% was purchased by international buyers from as far away as Armenia, Australia, and the Dominican Republic.

"We saw incredibly strong pricing in our Great Lakes event as well," said Tim Keane, Regional Sales Manager, Ritchie Bros. "Consignor feedback has been very positive, with several consignors lamenting they don't have more equipment available to sell. Simultaneously, we are also generating great returns for consignors in the region through our Marketplace-E platform and our weekly featured auctions on IronPlanet.com—now is a great time to sell."

The December 16 – 17 Great Lakes Regional Event featured 4,200+ items sold from four locations in Columbus, OH; Chicago, IL; Detroit, MI; and Lincolnshire, IL. The two-day online auction attracted 9,600+ bidders from 58 countries. Approximately 93% of the items were purchased by U.S. buyers, including 15% sold to Ohio, 13% to Illinois, and 8% to Texas. The remaining 7% was purchased by international buyers from as far away as Iceland, Singapore, and Kazakhstan.

10 Big Sellers in the Northeast & Great Lakes Regional Events:

2012 Caterpillar D8T crawler tractor – US$325,000
2020 Peterbilt 389 tri-axle day cab truck tractor – US$255,000
2012 Soilmec SR30 crawler foundational drill – US$255,000
Two 2003 Caterpillar 627G motor scrapers – US$240,000 each
Three 2022 Kenworth T880 day cab heavy haul trucks – US$240,000 each
2014 Caterpillar 329EL hydraulic excavator – US$150,000
2012 Volvo A30F 6x6 articulated dump truck – US$145,000
2003 Timbco T445D crawler tilter feller buncher – US$130,000
2007 Link-Belt RTC8065 65-ton rough terrain crane – US$122,500
2018 JLG 1200SJP SkyPower 4x4x4 boom lift – US$117,500

AUCTION QUICK FACTS: NORTHEAST REGIONAL (DECEMBER 14 – 16, 2021)

Gross Transaction Value (GTV): US$45+ million
Total Registered Bidders: 10,100+
Total Number of Lots: 4,600+
Total Number of Consignors: 600+

AUCTION QUICK FACTS: GREAT LAKES REGIONAL (DECEMBER 16 – 17, 2021)

Gross Transaction Value (GTV): US$42+ million
Total Registered Bidders: 9,600+
Total Number of Lots: 4,200+
Total Number of Consignors: 540+

Ritchie Bros. will sell tens of thousands of equipment items and trucks in its upcoming auctions and online marketplaces, including the company's massive, six-day auction in Orlando, FL on February 21 – 26, 2021 and its next Northeast and Great Lakes Regional Events in March 2022.

The company also has weekly featured online auctions at IronPlanet; a daily reserved option with Marketplace-E; and a brand new equipment listing service called Ritchie List, with more than 40,000+ items already listed.

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, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.