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Ritchie Bros. Tops $43MM+ at Great Lakes Regional Event

October 04, 2021, 07:08 AM
Filed Under: Auction News

Ritchie Bros.' latest Great Lakes Regional Event featured over 3,600 equipment items and trucks stored in three locations: Columbus, OH; Chicago, IL; and a new local yard in Detroit, MI. The two-day online auction attracted more than 10,000 bidders, resulting in strong competition and $43+ million in gross transaction value.

Approximately 88 percent of the equipment in the auction was purchased by U.S. buyers, including 16 percent sold to Ohio, 11 percent to Illinois and 5 percent to Michigan buyers. The remaining 12 percent was purchased by international buyers from as far away as Germany, Australia and Ghana. Leading up to the event, Ritchie Bros. attracted 88 percent more PriorityBids per lot and 40 percent more online equipment views than the previous Great Lakes auction in June.

"Our regional auctions continue to attract unprecedented demand—with bidder registrations up 23 percent from our previous Great Lakes auction—resulting in strong market pricing across all asset categories," said Tim Keane, Regional Sales Manager, Ritchie Bros. "Last week we saw particularly strong returns for transportation equipment, with van trailer prices reaching record levels.”

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