Record pricing continues in Texas with Ritchie Bros.' US$79+ million Fort Worth auction

Rhea-AI Summary

Ritchie Bros.' Fort Worth auction, held from March 15-17, 2022, achieved a record gross transaction value exceeding US$79 million. The event attracted over 14,700 bidders from 68 countries, competing for more than 4,600 items. Notable sales included a 2019 Kenworth T800 boom truck for US$400,000 and a 2019 Mack GR64B for US$380,000. Approximately 91% of purchases were made by U.S. buyers, with 38% from Texas. The auction garnered 39% more PriorityBids than the previous year, reflecting strong demand for equipment and trucks in the market.

Positive

• Achieved gross transaction value of over US$79 million.
• Attracted 14,700+ bidders, a significant increase in engagement.
• Sales highlighted strong demand with high-value equipment sold like Kenworth T800 for US$400,000.

Negative

• None.

March 15 – 17 online auction attracted 14,700+ bidders to compete for 4,600+ items

FORT WORTH, Texas, March 21, 2022 /PRNewswire/ - Ritchie Bros.' record pricing continued in Texas last week, with the company's first Fort Worth auction of the year generating more than US$79+ million in gross transaction value. The three-day online auction attracted 14,700+ bidders from 68 countries to compete for 4,600+ items from 770+ consignors.

"We continue to see unprecedented demand for equipment and trucks in today's market, driving prices well beyond expectations—especially for transportation equipment," said Neal Black, Regional Sales Manager, Ritchie Bros. "Last week in Fort Worth we sold a 2019 Peterbilt 389 6x4 day cab for US$210,000, a 2019 Western Star 4900FA tri-axle sleeper for US$205,000, and a 2015 Peterbilt 388 day cab for US$155,000! If you have trucks and equipment to sell, contact us today to take advantage of the record prices we are achieving. We have site auctions, online marketplaces, and a listing service—whatever your need, we have a solution for you."  

Approximately 91% of the equipment in the March 15 – 17 online Fort Worth auction was purchased by U.S. buyers, including 38% purchased by Texans. The remaining 9% was purchased by international buyers from as far away as Australia, Egypt, and Guyana. The March 2022 Fort Worth auction attracted approximately 39% more PriorityBids than the same event last year.

Specific equipment sales highlights:

• 2019 Kenworth T800 10x6 w/ National NBT60L 60-ton boom truck – US$400,000
• 2019 Mack GR64B granite volumetric batcher truck – US$380,000
• 2019 Caterpillar 336 hydraulic excavator – US$317,500
• 2018 Caterpillar 140M3 motor grader – US$280,000
• 2010 Caterpillar D8T dozer – US$280,000
• 2011 Grove TMS900E 110-ton 8x4 hydraulic truck crane – US$270,000
• 2018 Caterpillar 745 6x6 articulated dump truck – US$260,000
• 2019 Ditch Witch JT30 crawler directional drill – US$205,000
• 2019 Peterbilt 348 dump truck – US$190,000
• 2015 Case IH 620HD 4WD tractor – US$187,500

AUCTION QUICK FACTS: FORT WORTH, TX – MARCH 2022

• Gross Transaction Value: US$79+ million
• Lots sold: 4,600+
• Bidders: 14,700+ from 68 countries
• Consignors: 770+

Ritchie Bros. has over 60,000+ equipment items and trucks its upcoming inventory, including 5,200+ items selling in a Northeast Regional Event on March 22 – 23 and 2,600+ items selling in a Southeast Regional Event on March 25. For a complete list of upcoming auctions and events, visit rbauction.com/auctions.

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, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. 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; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; 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 of the Ritchie Bros. Fort Worth auction in March 2022?

The gross transaction value exceeded US$79 million.

How many bidders participated in the March 2022 Ritchie Bros. auction?

Over 14,700 bidders participated from 68 countries.

What are some significant sales from the Ritchie Bros. Fort Worth auction?

Notable sales included a 2019 Kenworth T800 for US$400,000 and a 2019 Mack GR64B for US$380,000.

What percentage of equipment sold at the Fort Worth auction was purchased by U.S. buyers?

Approximately 91% of the equipment was purchased by U.S. buyers.

How did the March 2022 auction compare to the previous year in terms of PriorityBids?

The auction had approximately 39% more PriorityBids than the same event last year.