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Ritchie Bros. Sells US$46MM+ of Equipment, Trucks at Edmonton Action

March 09, 2017, 06:55 AM
Filed Under: Auction News

Ritchie Bros. conducted its first Edmonton auction of the year last week, selling 5,000+ equipment items and trucks for CA$62+ million (US$46+ million) over three days (March 2 – 4, 2017).

More than 8,650 people from across Canada and 46 other countries registered to bid in the auction, including 5,950+ people who registered to bid online. Approximately 63 percent of the equipment (CA$38+ million or US$29+ million) was sold to online bidders. Canadian buyers purchased 85 percent of the equipment, with bidders from Alberta (50%), British Columbia (12%), and Saskatchewan (11%) being the biggest Canadian buyers. International buyers from such countries as France, Singapore, and the United Arab Emirates purchased 15 percent. 

"We saw strong demand with active bidding from across Canada, the United States and overseas, helping us achieve strong pricing in almost every equipment category in Edmonton last week," said Brian Glenn, Senior Vice President, Ritchie Bros. "Contractors are utilizing more of their fleets for active construction jobs, and fleet sizes are now better suited for the level of activity in the province. As a result, we sold fewer equipment items in this auction compared to our February Edmonton auction last year, though our April auction continues to grow—and will be an excellent opportunity for customers to both buy and sell assets to best align their fleets for their upcoming spring and summer projects."

Equipment in the March auction was sold for 600+ owners. The selection included 50 excavators, 40+ loaders, 40 compactors, 20+ dozers, 15+ cranes, 20+ agricultural tractors, 65 aerial work platforms, 400+ trailers, 120+ truck tractors, and more. All items were sold without minimum bids or reserve prices. 

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