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Ritchie Bros. Sells $89MM of Equipment at Auction

October 30, 2018, 07:01 AM
Filed Under: Auction News

With its fifth Edmonton, Alberta, auction of 2018, Ritchie Bros. sold more than 7,800 equipment items for $89 million.

The four-day auction attracted more than 10,100 bidders from 46 countries, including 7,950 people who registered to bid online. Approximately 90 percent of the equipment was sold to Canadian buyers, including 59 percent sold to Albertans. International buyers from such countries as the United States, Thailand and the Netherlands purchased 10 percent. Online buyers purchased approximately 66 percent (or $58 million) of the assets sold.

"Attendance was up year over year as demand for equipment across North America continues, resulting in strong prices in last week's Edmonton auction," said Trent Vandenberghe, Regional Sales Manager, Ritchie Bros. "Companies across industry sectors are taking advantage by converting their idle assets into cash, while buyers are filling their equipment needs with good clean machines for winter work. We would like to thank all our consignors and buyers for continuing to put their trust in Ritchie Bros. and our ability to deliver results."

Equipment was sold for more than 1,100 owners in the Edmonton auction.

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