FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


Ritchie Bros. Sells Over $47MM of Equipment in Houston Auction

April 22, 2016, 07:00 AM
Filed Under: Auction News

More than US$47 million of equipment and trucks was sold in Ritchie Bros.' Houston, TX auction this week, which went ahead as scheduled despite heavy storms nearby.

"Weather has never stopped a Ritchie Bros. auction," said Alan McVicker, Regional Sales Manager, Ritchie Bros. "We're pleased that we were able to conduct our usual professional auction and bring in buyers from around the world, delivering strong results for sellers. We sold 26% more lots compared to our April Houston auction last year and attracted 5% more bidders.  While there was continued pricing softness for specialized oil and gas equipment, our active bidding audience generated solid performance for cranes."

Mr. McVicker continued, "Our thoughts are with the families who have been affected by the storms in the area."

The two-day auction on April 20 - 21, 2016 attracted 4,400+ total bidders from 57 countries. Approximately 58 percent (US$27+ million) of the equipment was sold to out-of-state buyers, including nine percent (US$4+ million) sold to out-of-country buyers. More than 2,800 of the bidders registered to bid online and purchased 56 percent (US$26+ million) of the equipment in the auction.

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.