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Record Truck, Equipment Pricing Pushes Ritchie Bros. Orlando Auction Over $45MM

November 22, 2021, 07:10 AM
Filed Under: Auction News

Ritchie Bros. conducted its final Orlando, FL, auction of the year last week, selling more than 3,300 equipment items and trucks for more than 375 consignors, generating over $45 million in gross transaction value.

The online auction attracted roughly 10,400 bidders from 59 countries. Approximately 93 percent of the equipment was sold to U.S. buyers, including 35 percent sold to Floridians, while the remaining 7 percent was purchased by international buyers from as far away as Vietnam, Peru and Poland. Leading up to the auction, Ritchie Bros. saw a 50 percent increase in online equipment views.

"We continue to drive record demand—with bidder registrations up 37 percent year over year for this auction—resulting in very strong returns for our consignors and growth in GTV," said Thomas Ferguson, Regional Sales Manager, Ritchie Bros. "Truck prices have reached unprecedented levels in particular this year. According to our November Market Trends Report, truck tractor prices are up 45 percent year over year in the United States (for the three months ending Oct. 31, 2021).”

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