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Ritchie Bros. Sells CA$95MM of Equipment in Two Day Auction

October 31, 2013, 06:42 AM
Filed Under: Industry News

Ritchie Bros. Auctioneers conducted its largest two-day auction in Company history this week in Edmonton, AB (October 29 - 30, 2013). More than 5,850 equipment items and trucks were sold in the public auction for more than CA$95 million (US$90+ million)—all equipment was sold by unreserved auction, with no minimum bids or reserve prices. Multiple Ritchie Bros. records were set at this auction, including highest gross auction proceeds and most items sold in a two-day auction globally, most items ever sold in any Canadian auction and most sellers ever at any auction globally. Bids were made in person at the Edmonton auction site, online in real time at and by proxy.

"This is our fifth Edmonton auction of the year and usually our October auction is our second biggest sale next to our three-day April auction, but it's never been this big before—to sell more than 5,850 equipment items and trucks in two days is unheard of," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "At this time of year many contractors are changing gears—selling off equipment used in the summer and getting new gear for the winter season. In this week's auction we witnessed strong competition for equipment in all categories from bidders around the world, which helped us achieve global market value for our sellers."

More than 6,450 bidders from 53 countries, including all Canadian provinces and two territories and 43 US states, registered to bid in person or online for the auction. CA$63+ million (US$60+ million) of equipment was purchased by Alberta buyers. Participants from outside Alberta purchased close to CA$32 million (US$30+ million) of equipment or 33 percent of total gross auction proceeds. More than 3,600 of the bidders participated online and purchased CA$35+ million (US$33+ million) of the equipment available online.

Equipment in the auction was sold for a record-breaking 840+ sellers, including late-model hydraulic excavators and other equipment for PIPE-WATCH INC., a Camrose, AB-based pipeline integrity construction company.

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