US$41+ million of equipment sold at Ritchie Bros.' Fort Worth, TX auction

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May 19, 2017, 07:00 ET

Two-day unreserved auction attracted 4,250+ bidders from 59 countries, incl. 2,900+ online bidders

FORT WORTH, TX, May 19, 2017 /PRNewswire/ - Ritchie Bros. held its second Fort Worth, TX auction of the year this week, selling 3,800+ items over two days for US$41+ million.

More than 4,250 people from 59 countries registered to bid in the May 17 – 18 auction, including 2,900+ bidders participating online. U.S. buyers purchased 92 percent of the equipment, including 45 percent purchased by Texas buyers. International buyers from as far away as India, Thailand, and the United Arab Emirates purchased eight percent of the equipment.

"We continue to see optimism from contractors with promises of infrastructure spending coming from the government, resulting in good, solid pricing on construction equipment this week," said Dolan Aucoin, Sales Director, Ritchie Bros. "We also saw steady pricing for transportation equipment, particularly for trailers. I'd like to thank all our buyers and sellers this week—see you again in Houston on June 21 and 22."

Ritchie Bros. sold equipment for 570+ owners in the auction. Highlights included 390+ truck tractors, 480+ trailers, 100+ excavators, 95 skid steers, 70+ loader backhoes, 30+ dozers, a large selection of drilling equipment and more. All items were sold without minimum bids or reserve prices.

"We sold more than 250 items in the auction; prices exceeded our estimates by 25 percent," said Joe McElreath, Owner and President of Joe McElreath Company Inc. "A lot of the equipment we sold is unique. Ritchie Bros. is worldwide so I knew they could handle it and find the right buyers. With a company as big as Ritchie Bros., I can hardly understand how they have such personal relationships with their customers, but they manage to do it."

Specific equipment sales highlights

A 2010 Vermeer D330x500 crawler directional drill sold for US$660,000
A 2010 Vermeer D100X120 Series II directional drill sold for US$330,000
A 2007 Grove TMS900E 90-ton 8x4x4 hydraulic truck crane sold for US$270,000
A 2009 Vermeer D100X120 Series II crawler directional drill sold for US$230,000
A 2002 Caterpillar D11R crawler tractor sold for US$210,000
A Kerr T60 T/A triplex fluid pumper unit sold for US$190,000
A 2014 Caterpillar 966K wheel loader sold for US$185,000

AUCTION QUICK FACTS: FORT WORTH, TEXAS – May 17 – 18, 2017

Total Gross Auction Proceeds – US$41+ million
Amount sold to online bidders – US$21+ million (50 percent)
Total registered bidders (in person and online) – 4,250+
Registered online bidders – 2,900+
Total lots sold – 3,800+
Number of sellers – 570+

Ritchie Bros. is now accepting consignments for its next Texas auction in Houston on June 21-22, 2017. For a complete list of upcoming auctions and equipment available, visit rbauction.com.

About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest industrial auctioneer, and one of the world's largest sellers of used equipment for the construction, transportation, agriculture, energy, mining, forestry and other industries. Ritchie Bros.^TM asset management and disposition solutions include live unreserved public auctions with on-site and online bidding; EquipmentOne^TM, an online auction marketplace; Mascus, a global online equipment listing service; private negotiated sales through Ritchie Bros. Private Treaty; and a range of ancillary services, including financing and leasing through Ritchie Bros. Financial Services. Ritchie Bros. has operations in 19 countries, including 45 auction sites worldwide. Learn more at rbauction.com, EquipmentOne.com, mascus.com, rbauction.com/privatetreaty and rbauction.com/financing.