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Ritchie Bros. Sells $76MM in Edmonton Auction

November 05, 2019, 07:05 AM
Filed Under: Auction News

Just seven weeks after selling more than 10,700 items, Ritchie Bros.' Edmonton team was back this week with another five-day auction, selling 8,800 items for 1,100 owners and achieving $76 million in gross transactional value.

More than 12,700 people from 51 countries registered to bid in the event, including 10,900 online bidders. Approximately 91 percent of the equipment in the auction was sold to Canadian buyers, with buyers from Alberta purchasing 56 percent, while international buyers from countries such as Egypt, the Netherlands and Peru purchased 9ine percent of the equipment. Online bidders purchased 68 percent of the equipment.

"We witnessed strong participation from outside of Western Canada on core construction and transportation assets as Alberta companies continue to right size their fleets for current market conditions," said Brian Glenn, SVP, Head of Canadian Sales, Ritchie Bros. "We also sold more than $7 million in commercial, residential, and agricultural real estate in this auction, including a 137± acre property in Olds, AB with a home and shop for $1.3 million and a 79± acre hobby farm located near Elk Island Park for $900,000."

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