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Ritchie Bros. Sells US$73MM+ of Equipment at Edmonton Auction

October 30, 2017, 07:00 AM
Filed Under: Auction News

Ritchie Bros. sold more than 6,800 equipment items and trucks for US$73+ million in its October auction in Edmonton last week.. The four-day event held October 24 – 27, 2017, attracted more than 9,850 bidders from 47 countries, including 7,300+ online bidders. 
Canadian buyers purchased 92 percent of the equipment in the auction, with bidders from Alberta (58%), British Columbia (19%), and Saskatchewan (9%) being the biggest Canadian buyers. International buyers from such countries as the United Kingdom, Hong Kong, and New Zealand purchased eight percent. Approximately 63 percent of the equipment was sold to online buyers.  

"We saw very active bidding onsite and online, with strong pricing through most equipment categories," said Trent Vandenberghe, Sales Director, Ritchie Bros. "We achieved strong price increases year over year for oil and gas transportation assets, including picker, bed and fluid hauling trucks. Meanwhile construction sector equipment supply constraints continue to positively impact pricing. We also saw solid pricing for the transportation, forestry, and agricultural equipment in the auction, particularly the late-model equipment available."

Equipment highlights in the Edmonton October auction included 80+ excavators, 70+ skid steers, 65+ compactors, 55+ dozers, 40 loaders, 75+ flatbed trucks, 60+ boom trucks, 175 truck tractors, 650+ trailers, and much more. All items were sold without minimum bids or reserve prices.

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