FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


Ritchie Bros. Breaks Online Auction Records in Houston

April 22, 2013, 07:05 AM
Filed Under: Industry News

Site records broken for the most sellers at a Houston auction, largest online gross auction proceeds, and largest number of online bidders and online buyers.

Ritchie Bros. Auctioneers sold more than US$47 million of heavy equipment and trucks during a two-day unreserved public auction at the Company's permanent auction site in Houston, Texas on Wednesday & Thursday, April 17 & 18, 2013. More than 3,800 registered bidders competed for more than 4,100 heavy equipment items and trucks, including a selection of more than 150 T/A truck tractors, more than 55 hydraulic excavators, a selection of late model crawler tractors and more.

The auction saw numerous site records broken, including the most sellers at a Houston auction (close to 500), the largest online gross auction proceeds for Houston (more than US$20 million), and the largest number of online bidders (2,100+) and online buyers (550+) in the history of the Company conducting auctions in Houston, Texas. Every item was sold to the highest bidder, regardless of price—without minimum bids or reserve prices. Bids were made in the auction on-site, online in real time at or by proxy.

"We sold equipment for close to 500 sellers—the most consignors we've ever had at a Houston auction," said Alan McVicker, Regional Sales Manager, Ritchie Bros. Auctioneers. "Most of these sellers are upgrading their fleets as the economy gets stronger here in Texas. Sellers are turning to Ritchie Bros. because of our ability to sell their items to the world on auction day so they receive prices beyond their local market. Overall, prices were strong on both days and international participation was very active both in person and over the internet. Every Houston internet record was broken, yet there was an active bidding crowd here onsite as well."

More than 3,800 people from more than 60 countries, including 48 US states, registered to bid in person or online in the auction. Bidders from outside Texas purchased more than US$27 million or 57 percent of total gross auction proceeds. More than 2,100 of the bidders taking part in the auction registered to bid online and purchased more than US$20 million of equipment online.

  • Total Gross Auction Proceeds - US$47+ million
  • Amount sold to online bidders - US$20+ million (new site record)
  • Unique bidders (in-person and online total) - 3,800+
  • Unique online bidders - 2,100+ (new site record)
  • Total Lots sold - 4,100+
  • Number of sellers - close to 500 (new site record)


Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.