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Ritchie Bros. Drives Hot Pricing in Houston with $56MM+ Equipment Auction

June 21, 2021, 07:05 AM
Filed Under: Auction News

Ritchie Bros. June Houston, TX, auction saw a 30 percent increase in both gross transaction value and bidder registrations year over year. The two-day unreserved auction attracted 12,000 bidders and generated more than $56 million in GTV.

"Our marketplaces continue to drive record-breaking demand, with online equipment views per lot for our Houston auction up 84 percent from our June 2020 event," said Alan McVicker, Regional Sales Manager, Ritchie Bros. "This unprecedented demand is driving strong pricing across all equipment categories. In this week's Houston sale, we saw particularly hot pricing for truck tractors and vocational trucks. We also achieved great returns for a package of 65 pipelayers, despite the volatility in that industry. We encourage consignors to contact us today to take advantage of this 2021 seller's market."

Approximately 87 percent of the equipment in the Houston auction was purchased by U.S. buyers, including 52 percent sold to Texas buyers, while international buyers from as far away as Australia, Vietnam, and the United Kingdom purchased the remaining 13 percent. With 100 percent of bidding done online, Ritchie Bros. saw a 22 percent increase in watchlist adds per lot and a 39 percent increase in PriorityBids per lot.

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