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Ritchie Bros. Sells $48 Million of Equipment in Two-Day Texas Auction

March 13, 2012, 07:30 AM
Filed Under: Industry News

Ritchie Bros. Auctioneers sold more than $48 million of equipment items and trucks at a two-day unreserved public auction held in Fort Worth, Texas.  Equipment highlights in the auction included three late-model, low-hour Komatsu HD785-7 100-ton rock trucks—all were sold to a single online buyer from Alberta, Canada for $900,000 each. In total, more than 3,200 equipment items and trucks were sold in the auction-- every item was sold to the highest bidder, without minimum bids or reserve prices.

"It's not easy to find a Komatsu HD785-7 rock truck available to purchase and put to work right away—and we sold three of them in a single day," said David Hobbs, Vice President, Sales, Ritchie Bros. Auctioneers. "Selection is very important for our buying customers. Many of the people bidding in our auctions are end-users who need quality equipment quickly. They visit our auction site ahead of the auction to inspect the equipment or they do a virtual inspection online with our detailed equipment information—they know exactly what they need and our Fort Worth auction last week had a great variety of equipment: from excavators and wheel loaders to pickup trucks, forklifts, attachments and everything in between."

More than 3,900 people from 53 countries, including 48 U.S. states registered to bid in person or online in real time at the auction. Bidders from outside Texas purchased more than $28 million (58% of total gross auction proceeds). 

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