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Ritchie Bros. Sells Over $US63MM of Equipment at Edmonton Auction

September 12, 2016, 07:07 AM
Filed Under: Auction News

Last week Ritchie Bros. conducted its fourth Edmonton, AB auction of the year, selling 6,300+ equipment items and trucks for CA$82+ million (US$63+ million). 

More than 9,300 people from 42 countries registered to bid in the unreserved auction held on September 7 – 9, 2016. Approximately 87 percent of the equipment sold to Canadian buyers (by dollar value), including 53 percent sold to Albertans; about 7 percent was sold to U.S. buyers. Online buyers purchased 66 percent (CA$54+ million or US$41+ million) of the equipment.

"There was a great atmosphere in the auction theatres this week with very active bidding onsite and online," said Brian Glenn, Senior Vice President, Ritchie Bros. "Assets that can move across sectors are being highly contested for by contractors from general construction, home building, farming, and forestry. However, we continue to see pricing pressure on assets that are specific to the oil and gas industry. In times like these it's more important than ever to sell your assets with a company that can reach across sectors and around the world. That's where we are able to drive real success for our consignors."

Ritchie Bros. sold equipment for 950+ owners in Edmonton.

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