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Ritchie Bros. Sells $44MM of Equipment in Houston Auction

August 24, 2018, 07:10 AM
Filed Under: Auction News

Ritchie Bros. sold more than $44 million of equipment and trucks over two days at its latest Houston unreserved auction.

More than 5,100 people from 58 countries registered to bid in the Aug. 21-22 auction, including 3,600+ people registering to bid online. U.S. buyers purchased approximately 90 percent of the equipment, including 52 percent purchased by Texas buyers. International buyers from such countries as Mexico, Australia and the United Kingdom purchased 10 percent of the equipment. Online buyers purchased 53 percent of the assets. 

"We're experiencing hot temperatures in Texas and an equally hot equipment market right now, with a lot of ongoing and upcoming projects and strong demand for gear. As a result, we saw record attendance for our August auction, up approximately 13 percent from our Houston auction last summer," said Alan McVicker, Regional Sales Manager, Ritchie Bros. "Pricing was strong both days of the auction. Yellow iron sold exceptionally well, and transportation, lifting and handling and energy equipment prices were also strong.”

In total, Ritchie Bros. sold close to 4,600 items for 575 owners in Houston this week.

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