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Ritchie Bros. Sells $60MM of Equipment at September Auction

September 07, 2018, 07:00 AM
Filed Under: Auction News

Ritchie Bros. started September strong, with a more than $60 million auction in Edmonton, AB, this week, selling equipment for more than 1,000 consignors. 

The three-day auction attracted more than 9,000 bidders from 49 countries, including 6,850 people that registered to bid online. Approximately 88 percent of the equipment was sold to Canadian buyers, including 56 percent sold to Alberta. International buyers from such countries as the United States, Singapore and New Zealand purchased 12 percent. Online buyers purchased approximately 67 percent of the assets sold.

"We continued to see strong pricing for equipment and trucks in this week's auction," said Trent Vandenberghe, Regional Sales Manager, Ritchie Bros. "Transportation pricing remains solid and bidding on heavy construction equipment was very active, showcasing depth in the market for this equipment right now. Oilfield transportation equipment also delivered solid results, as contractors looking ahead to fall and winter work start to upgrade their fleets."

In total, more than 7,650 items were sold in the Edmonton auction.

"The auction was great, prices exceeded our expectations," said Jason Weinberger, President of W Corporation, who sold more than 75 items as part of a complete dispersal of his company's trucking and drilling division. "We chose Ritchie Bros. because of the size and scope of their audience. I saw our equipment get bids from across Canada, as well as Mexico, and Colombia. The whole team at Ritchie provided excellent customer service and followed through on their promises."

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