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Ritchie Bros. Expects Largest-Ever Auction Proceeds

February 15, 2012, 08:00 AM
Filed Under: Construction

Equipment World reported that Ritchie Bros. says it’s hoping to beat their previous 2008 record of $190 million in gross auction proceeds from one auction after reviewing the results of the first two days of a six day auction being held in Orlando, FL.
‘We’ve already exceed the most items for sale,” says Gary Seybold, vice president – sales, US South East for Ritchie. More than 10,400 items are on the block at the present sale; the previous record was 8,600 items.

The sale attracts sellers primarily throughout the Northeast and Southeast, with buyers both at the live event and on the Internet coming from all 50 states and 75 foreign countries.
According to the report, Rob MacKay, Ritchie president said, “Pricing has definitely made a rebound since the low in early 2010. Many buyers are chasing the low-hour used equipment, which pulls the pricing of all equipment up. We see dealers trying to get rental fleet inventories, and there’s now a big demand for motor graders, especially in Australia.”

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