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Ritchie Bros. Holds Largest-Ever Tipton, CA Auction

August 22, 2016, 07:03 AM
Filed Under: Auction News

Traditionally an agricultural hub for Ritchie Bros., the company's Tipton, CA auction site held a largely construction and transportation focused auction last week and set a new site sales record in the process. On August 17th, 1,350+ equipment items were sold for US$21+ million.

More than 2,500 people registered for the Tipton auction, including 1,650+ people registering online. Half of the assets in the auction were sold to online bidders, from as far away as Hungary, Poland and Australia. Approximately 72 percent of the equipment was sold to buyers from California. Every item was sold without minimum bids or reserve prices.

"We signed a big construction package early on, which allowed us ample time to market it and build a sale around it," said Chad Apland, Regional Sales Manager, Ritchie Bros. "As a result, we saw huge attendance for this time of year. In fact, we had close to 1,000 more bidders compared to our Tipton auction in August 2015. We usually see our biggest crowds in our February sale as it's so close to the World Ag Expo, but this sale rivalled it, helping us achieve great results for consignors."

Close to 200 companies sold equipment in last week's Tipton auction.

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