Record truck and equipment pricing pushes Ritchie Bros. Orlando, FL auction over US$45 million

Rhea-AI Summary

Ritchie Bros conducted its final Orlando auction of 2021 on November 17-18, attracting over 10,400 bidders from 59 countries and surpassing $45 million in gross transaction value. The auction featured 3,300+ items sold, with 93% of sales to U.S. buyers. Notably, truck tractor prices rose 45% year over year, reflecting ongoing strong demand. This auction's bidder registration was up 37% from the previous year, highlighting the growing interest in equipment sales. The company anticipates continued growth with additional auctions scheduled for December.

Positive

• Gross transaction value of over US$45 million.
• Bidder registrations increased by 37% year over year.
• 93% of equipment sold to U.S. buyers indicates strong domestic market.

Negative

• None.

Two-day unreserved auction attracts 10,400+ bidders from 59 countries—up 37% year over year

ORLANDO, Fla., Nov. 22, 2021 /PRNewswire/ - Ritchie Bros. conducted its final Orlando, FL auction of the year last week, selling more than 3,300 equipment items and trucks for 375+ consignors, generating US$45+ million in gross transaction value.

The November 17 – 18, 2021 online auction attracted 10,400+ bidders from 59 countries. Approximately 93% of the equipment was sold to U.S. buyers, including 35% sold to Floridians, while the remaining 7% was purchased by international buyers from as far away as Vietnam, Peru, and Poland. Leading up to the auction, Ritchie Bros. saw a 50% increase in online equipment views.

"We continue to drive record demand—with bidder registrations up 37% year over year for this auction—resulting in very strong returns for our consignors and growth in GTV," said Thomas Ferguson, Regional Sales Manager, Ritchie Bros. "Truck prices have reached unprecedented levels in particular this year. According to our November Market Trends Report, truck tractor prices are up 45% year over year in the United States (for the 3 months ending Oct. 31, 2021). If you have surplus trucks and equipment, contact us today to take advantage of a very hot market, selling through one of our site auctions, weekly featured events, Marketplace-E, or Ritchie List."

Mr.  Ferguson continued, "We would like to thank all the consignors and buyers who participated in our Orlando auctions in 2021. We look forward to seeing customers in person for our live onsite sale on February 21 – 26, 2022. This is our premier global auction each year and the 2022 event should not be missed."

Five Big Sellers from Orlando:

• 2018 Wirtgen W200I crawler cold planer – US$420,000
• Three 2019 Caterpillar 730 6x6 articulated dump trucks – US$325,000 each
• 2019 Caterpillar 336 hydraulic excavator – US$220,000
• 2017 Freightliner CA125SLP Cascadia sleeper truck tractor – US$112,000
• 2019 Volvo VNL760 sleeper truck tractor – US$105,000

AUCTION QUICK FACTS: ORLANDO, FL (NOVEMBER 2021)

• Gross Transaction Value (GTV): US$45+ million
• Total Registered Bidders: 10,400+
• Total Number of Lots: 3,300+
• Total Number of Consignors: 375+

Ritchie Bros. will sell more than 60,000 equipment items and trucks in its upcoming auctions and online marketplaces, including 3,200+ items selling in a Rocky Mountain Regional Event on December 1 – 2, 1,700+ items selling in a Southeast Regional Event on December 3, and 2,600+ items selling in Fort Worth on December 7 – 8.

The company also has weekly featured online auctions at IronPlanet; a daily reserved option with Marketplace-E; and a brand new equipment listing service called Ritchie List, with more than 40,000+ items already listed.

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 Orlando auction in November 2021?

The gross transaction value exceeded US$45 million.

How many bidders participated in the Ritchie Bros auction in Orlando?

Over 10,400 bidders participated from 59 countries.

What percentage of equipment at the Ritchie Bros auction was sold to U.S. buyers?

Approximately 93% of the equipment was sold to U.S. buyers.

What was the year-over-year increase in truck prices reported by Ritchie Bros?

Truck tractor prices increased by 45% year over year.

When is the next major Ritchie Bros auction scheduled after the Orlando event?

The next major auction is scheduled for February 21-26, 2022.