Ritchie Bros. sells CA$78+ million of equipment at September Edmonton auction

Three-day auction attracts 9,000+ bidders from 49 countries; 67% of equipment sold online

EDMONTON, Sept. 7, 2018 /PRNewswire/ - Ritchie Bros. started September strong, with a CA$78+ million (US$60+ million) auction in Edmonton, AB this week, selling equipment for more than 1,000 consignors.  

The three-day auction (September 4 – 6, 2018) attracted more than 9,000 bidders from 49 countries, including 6,850+ people that registered to bid online. Approximately 88 percent of the equipment was sold to Canadian buyers, including 56 percent sold to Alberta. International buyers from such countries as the United States, Singapore, and New Zealand purchased 12 percent. Online buyers purchased approximately 67 percent (CA$53+ million or US$40+ million) of the assets sold.

"We continued to see strong pricing for equipment and trucks in this week's auction," said Trent Vandenberghe, Regional Sales Manager, Ritchie Bros. "Transportation pricing remains solid and bidding on heavy construction equipment was very active, showcasing depth in the market for this equipment right now. Oilfield transportation equipment also delivered solid results, as contractors looking ahead to fall and winter work start to upgrade their fleets."

In total, more than 7,650 items were sold in the Edmonton auction, including 200+ truck tractors, 130+ compactors, 100+ skid steer loaders, 80+ excavators, 70+ flatbed trucks, 50+ dump trucks, 40+ dozers, 40+ loaders, 40+ boom trucks, 25+ farm tractors, and more. All items were sold without minimum bids or reserve prices.  

"The auction was great, prices exceeded our expectations," said Jason Weinberger, President of W Corporation, who sold 75+ items as part of a complete dispersal of his company's trucking and drilling division. "We chose Ritchie Bros. because of the size and scope of their audience. I saw our equipment get bids from across Canada, as well as Mexico, and Colombia. The whole team at Ritchie provided excellent customer service and followed through on their promises."

Specific sales highlights include:

• A 2007 Foremost Commander C 8x8 off-highway bed truck sold for CA$530,000
• A 2016 Komatsu D155AX-8 dozer sold for CA$410,000
• A 2013 Caterpillar D6T LGP w/ Vanguard 72H hydraulic pipelayer sold for CA$395,000
• A 2011 Western Star 4900SA 9,450-litre tri-drive hot oiler pres tank truck sold for CA$380,000
• A 1999 Liebherr LTM1080 90-ton 8x8x8 all-terrain crane sold for CA$265,000
• A 2011 Caterpillar 349EL hydraulic excavator sold for CA$240,000
• A 2014 Western Star 4900SA 14,793-litre tri-drive sleeper combo vac truck sold for CA$225,000
• A 2012 Caterpillar 740B 6x6 articulated dump truck sold CA$220,000
• A 2013 Caterpillar 966H wheel loader sold for CA$202,500
• A 2012 Freightliner M2112 T/A tire truck sold for CA$142,500

Auction quick facts: Edmonton, AB (September 2018)

• Gross transactional value – CA$78+ million (US$60+ million) 
• Amount sold to online bidders – CA$53+ million (US$40+ million)
• Total registered bidders (onsite and online) – 9,000+
• Online registered bidders – 6,850+
• Number of lots sold – 7,650+
• Number of sellers – 1,000+

Ritchie Bros. currently has more than 50,000 equipment items, trucks, and other assets listed for sale in its upcoming onsite unreserved auctions, IronPlanet weekly online auctions, Marketplace-E and its other 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 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; Marketplace-E, an online 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 also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat^® auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by 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

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