Ritchie Bros. sells more than CA$104 million of equipment in Edmonton, AB

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Jun 16, 2014, 07:00 ET

With three Edmonton auctions held so far this year, the site has already sold a combined CA$300+ million of equipment and trucks

EDMONTON, June 16, 2014 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold more than CA$104 million (US$95+ million) of heavy equipment and trucks in Edmonton, AB on June 11 - 13, 2014. The auction set a new one-day sales record for the Company: more than CA$75 million (US$69+ million) of equipment was sold on Day Two (June 12). So far in 2014, the Edmonton site has conducted three auctions and sold a combined CA$300+ million—three more Edmonton auctions are scheduled for 2014.

"We expanded our yard here in Edmonton last year to help meet the demand from consignors to add more equipment to our sales and it looks like we could stand to expand it again tomorrow with back-to-back record-setting auctions in April and June," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "With more than 5,350 equipment items from 863 sellers, this was our largest-ever June auction in Edmonton, attracting bidders from all over the world, which resulted in strong prices across all equipment categories. A couple of sale highlights were a 2003 Caterpillar 589 crawler pipelayer that sold for $680,000 and a 2012 Kenworth T800 twin-axle, tri-drive with a National NBT55102 boom truck that sold for $675,000."

Fifty-eight hundred bidders from 50+ countries, including all Canadian provinces and territories, as well as 41 US states, registered to bid in person or online for the auction. More than CA$64 million (US$59+ million) of equipment and trucks was purchased by Alberta buyers while participants from outside Alberta purchased CA$39+ million (US$36+ million) for 37 percent of total gross auction proceeds. More than 3,500 of the bidders participated online and purchased more than CA$42 million (US$39+ million) of equipment.

Equipment in the auction was sold for 863 sellers, including 150+ items as part of complete dispersal for Tanton Mackay Oilfield Construction Ltd., a Camrose, AB-based pipeline construction company.

"Prices in the auction were good and consistent, in particular, pricing on newer iron was very strong," said Gary Tanton, President of Tanton Mackay Oilfield Construction. "We've bought a lot from Ritchie Bros. in the past so when we decided to get out of the pipeline business we came to them to sell all our equipment. One month ago, most of our gear was out on a job and now it's in the hands of new owners. That's one of the best parts about working with Ritchie Bros.—everything is sold by the end of the auction. Now I can sit back and enjoy the summer with my wife and kids."

The Edmonton June auction featured more than 5,350 equipment items and trucks, including 145+ excavators, 150+ compactors, 110+ bulldozers, 50+ articulated dump trucks, 60+ loaders, 40+ agricultural tractors, 150+ truck tractors and more. A couple more specific sales highlights include: a 2012 Komatsu D65PX-17 crawler tractor that sold for $270,000 and an unused 2013 Kenworth T800 tri-drive sleeper winch tractor that sold for $260,000.

AUCTION QUICK FACTS: EDMONTON, AB - JUNE 11 - 13, 2014

Total Gross Auction Proceeds - CA$104+ million (US$95+ million)
Amount sold to online bidders - CA$42+ million (US$39+ million)
Total registered bidders (onsite and online total) - 5,800
Unique registered online bidders - 3,500+
Total number of buyers - 1,950+
Total number of online buyers - 1,100+
Number of lots sold - 5,350+
Number of sellers - 860+

The Ritchie Bros. auction calendar currently features more than 90 unreserved public auctions around the world, including the Company's next unreserved public auction in Edmonton, AB, which is scheduled for September 2014. 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