Ritchie Bros. achieves strong pricing in US$47+ million auction in Houston, TX

Rhea-AI Summary

Ritchie Bros. conducted a record-setting online auction in Houston, attracting over 14,900 bidders from 71 countries, reflecting a 68% increase year-over-year. The auction resulted in a gross transaction value exceeding US$47 million, with more than 4,600 items sold. Key auction statistics include a 70% rise in total equipment pageviews and a 112% increase in per lot pageviews compared to last year. Notable sales included a 2000 Liebherr crane sold for US$505,000. Approximately 61% of the equipment was purchased by out-of-state buyers.

Positive

• 14,900+ bidders registered, up 68% YOY.
• Gross transaction value exceeded US$47 million.
• Total equipment pageviews increased by 70% YOY.
• Per lot pageviews rose by 112% compared to the previous auction.
• Record number of consignors at over 650.

Negative

• None.

A record 14,900+ bidders from 71 countries registered for the February auction, up 68% YOY 

HOUSTON, Feb. 11, 2021 /PRNewswire/ - Ritchie Bros.' 100% online auctions continue to drive strong results for consignors in 2021. This week, the company sold more than 4,600 items located at its Houston, TX auction site to online buyers around the world for US$47+ million. The two-day auction attracted 14,900+ bidders, which is up 68% from the same auction last year and a new record for the site.   

"With our auctions 100% online we are really able to flex our digital muscle and show how Ritchie Bros. is uniquely positioned to drive demand like no other," said Alan McVicker, Regional Sales Manager, Ritchie Bros. "Continuous innovations in our online experience and marketing approaches are driving significant increases in online page views to our websites, pre-registrations for our events, and PriorityBids on items. All of these are great indicators for the momentum building into our massive Orlando auction next week and all our upcoming events, including our next Texas auction in Fort Worth on March 17 and 18."

Total equipment pageviews for the Houston auction were up 70% year over year, while per lot pageviews were up 112%. Once online, customers added items to their watchlists, which were up 110% per item. The auction also saw 33,000+ PriorityBids placed on items ahead of the auction.

More than 650 consignors sold equipment in this week's Houston auction. Equipment highlights included 315+ truck tractors, 115+ excavators, 85+ skid steer loaders, 50 dozers, and more. Specific sales highlights include a 2000 Liebherr LR1400/1 400-ton crawler crane that sold for US$505,000 to a buyer from Utah; a 2013 Caterpillar D8T dozer that sold for US$290,000 to a buyer from Texas; and a 2018 John Deere 460E 6x6 articulated dump truck that sold for US$220,000 to a buyer from Manitoba, Canada.

"We attracted a record number of registrants and achieved strong pricing across all equipment categories," added Mr. McVicker.

Approximately 61 percent of the equipment in the Houston auction was purchased by out of state buyers, including 13 percent sold to international buyers from as far away as Australia, Germany, and the United Arab Emirates.

AUCTION QUICK FACTS: HOUSTON, TX (FEBRUARY 2020)

• Gross Transaction Value (GTV): US$47+ million
• Total Registered Bidders: 14,900+
• Total Number of Lots: 4,600+
• Total Number of Consignors: 650+

For more information about upcoming auctions, visit RitchieBros.com.

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. 

View original content:http://www.prnewswire.com/news-releases/ritchie-bros-achieves-strong-pricing-in-us47-million-auction-in-houston-tx-301226730.html

SOURCE Ritchie Bros.

FAQ

What was the gross transaction value of the Ritchie Bros. auction on February 11, 2021?

The gross transaction value exceeded US$47 million.

How many bidders participated in the Ritchie Bros. auction in February 2021?

Over 14,900 bidders registered for the auction.

Where was the Ritchie Bros. auction held on February 11, 2021?

The auction was held in Houston, Texas.

What was the year-over-year increase in bidders for the Ritchie Bros. auction?

There was a 68% year-over-year increase in bidders.

What notable items were sold at the Ritchie Bros. auction?

A 2000 Liebherr LR1400/1 crane sold for US$505,000, and a 2013 Caterpillar D8T dozer sold for US$290,000.