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Ritchie Bros. Sells 12,300 Items for $154MM in Five-Day Auction

May 06, 2019, 07:14 AM
Filed Under: Auction News

Ritchie Bros. sold 12,300 equipment items and trucks for $154 million during its massive five-day auction in Edmonton, AB.

A record 17,600 bidders from 59 countries registered to participate in the April 30–May 4 auction, including 13,500 online bidders. Approximately 86 percent of the equipment in the auction was sold to Canadian buyers, with buyers from Alberta purchasing 52 percent, while international buyers from countries such as China, Poland and the United Kingdom purchased 14 percent of the equipment. Online bidders purchased approximately 65 percent of the equipment.

"We had a great live event in Edmonton last week, setting new company records for number of bidders and sellers," said Brian Glenn, SVP, Head of Canadian Sales, Ritchie Bros. "Despite a long and challenging winter for many companies across Western Canada, we witnessed positive pricing across all equipment categories. Oilfield transportation was a big feature of the auction; supported by strong out-of-country participation, we delivered very solid returns for consignors. Core construction assets also performed well as Canadian companies continue to adjust to market conditions and upgrade their fleets."

A record 1,500 owners sold equipment in the Edmonton live auction, including a complete dispersal of 300 assets for Harpoon Energy, a Red Deer, AB-based oilfield surface rental company. 

"Ritchie Bros.' Edmonton April auction is the best Canadian sale of the year and I'm very pleased with the results we achieved this week," Dave Roberts, Owner of Harpoon Energy. "When you team good quality equipment with Ritchie Bros.' extensive pool of customers, you are going get market value or better for your assets and cash in hand in three weeks. Ritchie Bros. makes it easy."

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