12,600+ bidders register for US$57+ million Ritchie Bros. auction in Fort Worth, TX

Rhea-AI Summary

Ritchie Bros. held a successful auction in Fort Worth, Texas on September 24, 2021, attracting over 12,600 online bidders from 64 countries. The auction generated a gross transaction value of more than US$57 million, indicating strong market demand with a 17% increase in bidders from the previous year. Approximately 92% of the items were sold to U.S. buyers. Key sales included a John Deere cable plow fetching US$485,000. The company is set to host additional auctions, including its final Fort Worth event in December.

Positive

• Gross transaction value exceeded US$57 million.
• Auction attracted over 12,600 bidders, a 17% increase from last year.
• Approximately 92% of assets were sold to U.S. buyers.

Negative

• None.

Unprecedented demand continues to drive strong pricing across nearly all equipment categories

FORT WORTH, Texas, Sept. 24, 2021 /PRNewswire/ - Ritchie Bros.' latest Texas auction attracted 12,600+ online bidders from 64 countries to compete for 4,300+ items consigned by 600+ sellers. As a result of this unprecedented demand, Ritchie Bros.' Fort Worth auction generated US$57+ million in gross transaction value.      

"We continue to drive record-breaking demand, with bidders up 17% from last September, and we have the best auctioneers in the business working to get our consignors every extra bid," said Chuck Roberson, Regional Sales Manager, Ritchie Bros. "Leading up to and during the auction, we safely welcomed thousands of interested buyers to inspect assets in person. The market is strong right now and buyers are proving it with very aggressive bidding. It's a great time to sell and we have a ton of upcoming opportunities, including our final Fort Worth auction of the year in December."

Approximately 92% of the assets in the September Fort Worth auction were sold to U.S. buyers, including 43% to Texans, while the remaining 8% was sold to international buyers from as far away as Belgium, Ecuador, and Taiwan. Leading up to the event, online equipment views per lot and PriorityBids were up 9% from last September.

Five Big Sellers in Fort Worth:

• 2020 John Deere 850L WLT cable plow – US$485,000
• 2012 Kobelco CK1100G 110-ton crawler crane – US$315,000
• 2012 Caterpillar D8T crawler tractor – US$255,000
• 2018 Western Star 4900SB quad-axle hydro vac truck – US$250,00
• 2018 Freightliner Coronado 122 day cab truck tractor – US$117,000

AUCTION QUICK FACTS: FORT WORTH, TX (SEPTEMBER  2021)

• Gross Transaction Value (GTV): US$57+ million
• Total Registered Bidders: 12,600+
• Total Number of Lots: 4,300+
• Total Number of Consignors: 600+

Ritchie Bros. will sell more than 50,000 equipment items and trucks in its upcoming events, including a Great Lakes Regional Event on Sep. 28 - 29 and a Rocky Mountain Regional Event on Oct. 6 – 7. The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance^® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

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SOURCE Ritchie Bros.

FAQ

What was the gross transaction value at Ritchie Bros' September 2021 auction?

The gross transaction value exceeded US$57 million.

How many bidders participated in the Ritchie Bros auction in Fort Worth?

There were over 12,600 online bidders from 64 countries.

What percentage of items sold at the auction were purchased by U.S. buyers?

Approximately 92% of the items were sold to U.S. buyers.

When is Ritchie Bros' final auction in Fort Worth scheduled?

The final auction in Fort Worth is scheduled for December 2021.

Which item sold for the highest price at the auction?

The highest-selling item was a 2020 John Deere 850L WLT cable plow for US$485,000.