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Ritchie Bros. Sells Over $62MM of Equipment in Edmonton Auction

September 11, 2017, 07:05 AM
Filed Under: Auction News

Ritchie Bros. conducted its fourth Edmonton auction of the year last week, selling 6,600+ equipment items and trucks for CA$75+ million (US$62+ million) over three days (Sep 6 – 8, 2017).  

More than 8,700 people from 52 countries registered to bid in the auction, including 6,300+ people who registered to bid online. Approximately 62 percent of the equipment (CA$46+ million or US$38+ million) was sold to online bidders. Canadian buyers purchased 89 percent of the equipment, with bidders from Alberta (57%), British Columbia (13%), and Saskatchewan (9%) being the biggest Canadian buyers. International buyers from such countries as the United Kingdom, Singapore, and New Zealand purchased 11 percent. 

"As activity levels start to pick up in the oil & gas sector owners are beginning to loosen inventories as their equipment needs are increasing and they look to upgrade," said Trent Vandenberghe, Sales Director, Ritchie Bros. "We saw solid returns for our consignors this week across most categories as optimism and work outlook continue to rise. September auctions in Alberta are typically the kick off to winter work programs and we are seeing increased activity throughout our customer base here in western Canada. Our October auction in Edmonton is just over 5 weeks away and activity is picking up. Owners are positioning fleets and sourcing equipment as inventory and supply challenges continue."

Equipment in the auction was sold for 945+ owners. The selection included 120+ compactors, 90 excavators, 40 dozers, 85+ skid steers, 50+ dump trucks, 45+ loaders, 10+ cranes, 25 agricultural tractors, 165+ truck tractors, 565+ trailers and much more.

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