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Ritchie Bros. Holds Largest Canadian Auction in Company History

May 05, 2015, 07:04 AM
Filed Under: Auction News

Ritchie Bros. sold more than CA$215 million (US$177+ million) of heavy equipment and trucks at an unreserved public auction in Edmonton, AB from April 28 – May 1, 2015, making it the largest Canadian auction in Company history. The auction broke multiple other Company records, including global records for online sales (CA$105+ million or US$86+ million), total number of registered bidders (14,000+), number of online bidders (8,150+), total number of buyers (3,200+) and number of online buyers (1,850+), as well as a new Canadian record for number of lots sold (7,700+). Bids were made in person at the Edmonton auction site, online in real time at and by proxy.

"This auction was certainly one for the record books," said Randy Wall, President, Canada, Ritchie Bros. "With more than 14,000 registered bidders from more than 55 countries, we surpassed our previous global bidder record by more than 4,550 people! As a result of the high bidder turnout and the strength of the transportation, construction, forestry and other sectors in Alberta, the rest of Canada and abroad, we saw strong pricing at the auction, despite continued market concerns surrounding lower oil prices. In particular we saw great pricing on all general construction, transportation, and aerial equipment, as well as all rental-related equipment."

The Edmonton auction, Ritchie Bros.' first-ever four-day auction in Canada, attracted bidders from 55+ countries, including every Canadian province, two territories and 48 U.S. states. More than CA$192 million (US$158+ million), or 89 percent of the equipment was purchased by Canadian buyers, including 51 percent purchased by buyers from Alberta. The rest of the equipment was sold to buyers from around the world, as far away as the United Arab Emirates, Germany, Egypt, Malaysia, Thailand, Poland and the Netherlands.

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