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 US$18MM of Equipment at Lethbridge Auction

July 25, 2016, 07:00 AM
Filed Under: Auction News

Records were smashed in Lethbridge last week, as Ritchie Bros. sold CA$24+ million (US$18+ million) of equipment in two days—with 67 percent (CA$16+ million) selling to online buyers. Traditionally the company's southern Alberta site has focused on agriculture auctions, but this month's sale featured more construction and transportation assets than ever before, resulting in more choice and bigger crowds on auction day.

On July 21 - 22, 2016, Ritchie Bros. sold 1,600+ equipment items and trucks at its largest-ever Lethbridge auction. More than 3,250 people from 32 countries registered to bid. Out-of-province buyers from as far away as Quebec, Texas and Australia purchased 31 percent of the equipment. Every item was sold without minimum bids or reserve prices

"It's clear from the number of bidders we had onsite and online that our customers appreciated the increased variety and selection of equipment in this auction," said Simon Wallan, Vice President, Ritchie Bros. "We sold hundreds of agricultural equipment items, but this auction helped us showcase our ability to sell equipment for every sector here in Lethbridge. We would like to thank all of our consignors, bidders and buyers and look forward to seeing them again at our next auction here in November."

Ritchie Bros. sold equipment for 240+ companies in last week's auction.

Comments From Our Members

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