Ritchie Bros. sells CA$72+ million of equipment in June Edmonton auction

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Jun 15, 2017, 07:00 ET

Two-day auction attracts 7,250+ bidders from 50 countries; 66% of equipment sold online

EDMONTON, June 15, 2017 /PRNewswire/ - Ritchie Bros. conducted its third Edmonton auction of the year this week, selling 5,500+ equipment items and trucks for CA$72+ million (US$54+ million) over two days (June 13 – 14, 2017).

More than 7,250 people from 50 countries registered to bid in the auction, including 5,350+ people who registered to bid online. Approximately 66 percent of the equipment (CA$47+ million or US$35+ million) was sold to online bidders. Canadian buyers purchased 89 percent of the equipment, with bidders from Alberta (59%), British Columbia (13%), and Saskatchewan (8%) being the biggest Canadian buyers. International buyers from such countries as Belgium, New Zealand, and the United Arab Emirates purchased 11 percent.

"We are beginning to see slight signs of improvement in the Alberta market as contractors get back to work," said Ryan Eacrett, Regional Sales Manager, Ritchie Bros. "Typically our June sales are a little smaller in size as spring and summer work picks up, but this week we saw strong participation from around the globe online and from local bidders onsite resulting in solid pricing, particularly for construction assets. This week we also sold some great lakefront real estate in Buffalo Lake, AB that achieved strong pricing—it's usually a good sign for the economy when people are willing to spend money on recreational property."

Equipment in the auction was sold for 950+ owners. The selection included 200+ compactors, 80+ excavators, 50+ dozers, 50+ skid steers, 55+ dump trucks, 45+ loaders, 20+ cranes, 25+ agricultural tractors, 185+ truck tractors, 580+ trailers and much more. All items were sold without minimum bids or reserve prices.

Specific equipment highlights:

Two 2012 Caterpillar 740BEJ ejector 6x6 articulated dump trucks sold for a combined CA$592,500
A 2012 John Deere 870G LC VG hydraulic excavator sold for CA$325,000
A 2003 Caterpillar 627G motor scraper sold for CA$320,000
A 2007 Caterpillar D7R XR Series II crawler tractor sold for CA$315,000
A 2010 Temisko LB-T3W-54 100-ton tridem double-drop steerable lowboy sold for CA$305,000
A 2005 Caterpillar 815F compactor sold for CA$300,000
A 2012 Kenworth T800 T/A tri-drive w/ Manitex 4596T boom truck sold for CA$295,000
A 2012 Western Star 4900SA tri-drive sleeper hydro vac truck sold for CA$225,000

Auction quick facts: Edmonton, AB (June 2017)

Gross auction proceeds – CA$72+ million (US$54+ million)
Amount sold to online bidders – CA$47+ million (US$35+ million)
Total registered bidders (onsite and online) – 7,250+
Online registered bidders – 5,350+
Number of lots sold – 5,500+
Number of sellers – 950+

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; EquipmentOne, an online auction marketplace; 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, and Kruse Energy Auctioneers, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.