Ritchie Bros. sells CA$41+ million of equipment at its largest agricultural auction of 2014

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Dec 03, 2014, 07:00 ET

More than 1,750 equipment items were sold in Saskatoon, SK on December 2, including 90+ headers, 90+ combines, 85+ tractors and more

SASKATOON, Dec. 3, 2014 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest auctioneer of agriculture, construction and other heavy equipment, conducted its largest agriculture auction of 2014 yesterday in Saskatoon, SK (December 2), selling more than CA$41 million (US$36+ million) of equipment and trucks in a single day. The unreserved public auction also set new Saskatoon site records for: online gross auction proceeds (CA$20+ million or US$18+ million), total number of registered bidders (4,550+) and number of online bidders (close to 2,900). Every item in the auction was sold without minimum bids or reserve prices.

"This is the second largest agricultural auction we've ever held and our largest this year," said Jordan Clarke, Regional Sales Manager, Ritchie Bros. Auctioneers. "It was the best inventory we've had in Saskatoon all year, and we saw interested bidders from around the world competitively bidding on the equipment, which came from good, high-end quality homes. We had a huge crowd on site and a lot of participation online too, with strong prices across the board."

More than 4,550 bidders from 32 countries, including all Canadian provinces and two territories and 33 U.S. states, registered to participate in person or online in the auction. Bidders from outside Saskatchewan purchased close to CA$15 million (US$13+ million) or 36 percent of total gross auction proceeds. Close to 2,900 of the bidders taking part in the auction registered to bid online and purchased more than CA$20 million (US$18+ million) of equipment available online.

Ritchie Bros. sold equipment for 150+ equipment owners, including 120+ items from JayDee AgTech -- the John Deere Agricultural dealer serving nine locations across Western and North Central Saskatchewan.

"This is my third December auction with Ritchie Bros. and I couldn't be happier," said Travis Moberg, Re-Marketing Manager for JayDee AgTech. "We received a lot more calls this time from interested buyers in the Midwest US, Manitoba, and even the Eastern seaboard and quite a bit of the equipment has been sold outside the area. Selling with Ritchie Bros. is a great way for us to market the units, get them sold and not keep our cash tied up in equipment we no longer need."

Equipment highlights in the auction included 90+ headers, 90+ combines, 85+ tractors and more.

AUCTION QUICK FACTS: SASKATOON, SK – December 2, 2014

Total Gross Auction Proceeds – CA$41+ million (US$36+ million)
Amount sold to online bidders – CA$20+ million or US$18+ million (*new site record)
Total registered bidders (onsite and online total) – 4,550+ (*new site record)
Unique registered online bidders – Close to 2,900 (*new site record)
Lots sold – 1,750+
Number of sellers – 150+

Consignments for the next Saskatoon auction on March 23 – 24, 2015 are already being accepted; to sell your equipment and trucks with Ritchie Bros., please contact: +1.306.933.9333. The Ritchie Bros. December 2014 auction calendar currently features 30 unreserved public auctions around the world, including the following auctions with agricultural equipment: Kearney, Nebraska (Dec. 4); Kansas City, Missouri (Dec. 5); Sacramento, California (Dec. 9); Minneapolis, Minnesota (Dec. 10); Columbus, Ohio (Dec. 11); Chicago, Illinois (Dec. 12); St. Louis, Missouri (Dec. 17); and Raleigh-Durham, North Carolina (Dec. 18). 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 EquipmentOne^TM 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.

ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.

SOURCE Ritchie Bros. Auctioneers