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Ritchie Bros. Sets Agricultural Equipment Sales Records in Canada

August 12, 2013, 07:02 AM
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Ritchie Bros. Auctioneers set new Company records during an unreserved public auction in Saskatoon, SK on August 7, 2013 by selling 135 combines for more than CA$15.5 million. The Company broke its records for the largest number of combines ever sold at a Canadian auction as well as for the highest gross auction proceeds for total combine sales at any Ritchie Bros. auction around the world. In total, more than 1,475 items were sold in the auction for more than CA$26 million. 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.

“The agricultural economy in Western Canada is very strong right now so there’s high demand for quality new and used equipment. Thankfully, we were able to meet that need with the most combines we’ve ever sold in one of our Canadian auctions along with a great selection of other agricultural equipment,” said Jordan Clarke, Regional Sales Manager, Ritchie Bros. Auctioneers. “We witnessed strong participation locally, from across the country and around the world for almost all equipment categories featured in the auction. This Saskatoon auction showcased our ability to attract some of the largest agricultural equipment on the market today. We want to thank all our customers for putting their trust in Ritchie Bros. and our unreserved auction method.”

More than 3,050 bidders from 17 countries, including all Canadian provinces and one territory, registered to participate in person or online in the auction. Bidders from outside Saskatchewan purchased more than CA$10.5 million or 40 percent of total gross auction proceeds. More than 1,450 of the bidders taking part in the auction registered to bid online and purchased more than CA$8.5 million of equipment available online.

Equipment in the auction was sold on behalf of over 200 sellers, including a selection of late model combines and headers for Regina, SK-based Young’s Equipment Inc., an agricultural equipment dealer specializing in Case IH equipment.

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