Ritchie Bros. attracts 17,000+ online bidders for CA$85 million Edmonton, AB auction

Rhea-AI Summary

Ritchie Bros. auctioned over 7,600 items in Edmonton, generating a gross transaction value exceeding CA$85 million (US$69 million) from 17,700+ bidders across 61 countries. The auction, held from October 26 to 28, saw 90% of the items purchased by Canadians, with strong interest in oil and gas equipment. Notable sales included a 2018 Kenworth T800 for CA$505,000 and a 2007 Caterpillar D8T for CA$315,000. The company plans to sell more than 40,000 items in upcoming events, highlighting the robust demand for equipment amid tight supply.

Positive

• Generated gross transaction value of CA$85+ million (US$69+ million).
• Attracted over 17,700 bidders, indicating strong market interest.
• 90% of items sold to Canadian buyers, showcasing a solid domestic market.
• Notable high-value sales, including a Kenworth truck for CA$505,000.

Negative

• None.

Tight supply and unprecedented demand driving record-breaking equipment and truck prices

EDMONTON, AB, Nov. 1, 2021 /PRNewswire/ - Last week Ritchie Bros. conducted a three-day auction at its Edmonton, AB site, selling 7,600+ equipment items and trucks for 950+ owners and generating CA$85+ million (US$69+ million) in gross transaction value.

The October 26 – 28, 2021 auction attracted 17,700+ online bidders from 61 countries, with approximately 90% of the equipment purchased by Canadians, including 57% sold to Alberta buyers. The remaining 10% of the equipment was sold to international buyers from as far away as Australia, Belgium, and New Zealand.

"We continue to exceed customer expectations with equipment and truck pricing in 2021," said Andrew Lutic, Regional Sales Manager, Ritchie Bros. "It's not just one asset category either—as we've showcased in our monthly Market Trends Reports, pricing is strong across the board right now. Last week in Edmonton we sold an unused 2022 Kenworth T880 truck tractor for CA$232,500! We also saw an uptick in demand for oil and gas-specific assets, like boom trucks. It's a seller's market right now and I encourage interested consignors to contact us today to get their surplus equipment featured in one of our many upcoming online events."

Five Big Sellers:

• 2018 Kenworth T800 T/A tri-drive w/ Terex Crossover800 boom truck – CA$505,000 (US$407,838)
• 2007 Caterpillar D8T crawler tractor – CA$315,000 (US$254,394)
• 2008 Kobelco CK850 85-ton crawler crane – CA$285,000 (US$230,166)
• 2017 Volvo P7110B asphalt paver – CA$275,000 (US$222,090)
• 2018 Freightliner 122SD tri-drive sleeper truck tractor – CA$165,000 (US$133,254)

AUCTION QUICK FACTS: EDMONTON, AB (OCTOBER 2021)

• Gross Transaction Value (GTV): CA$85+ million (US$69+ million)
• Total Registered Bidders: 17,700+
• Total Number of Lots: 7,600+
• Total Number of Consignors: 950+

Ritchie Bros. will sell more than 40,000 equipment items and trucks in its upcoming events, including a giant crane auction in Decatur, AL on Nov. 3;  Houston, TX on Nov. 9 - 11; and Grande Prairie, AB on 22 – 24. 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; Ritchie List, a self-serve listing service for North America; 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 were the results of Ritchie Bros.' auction in Edmonton in October 2021?

Ritchie Bros. generated over CA$85 million (US$69 million) in gross transaction value from 7,600+ items sold.

How many bidders participated in Ritchie Bros.' October 2021 auction?

The auction attracted over 17,700 online bidders from 61 countries.

What percentage of items sold at the Edmonton auction was bought by Canadians?

Approximately 90% of the equipment was purchased by Canadian buyers.

What significant sales occurred during the Ritchie Bros. auction in Edmonton?

Key sales included a 2018 Kenworth T800 for CA$505,000 and a 2007 Caterpillar D8T for CA$315,000.

What upcoming events does Ritchie Bros. have after the Edmonton auction?

Ritchie Bros. will sell over 40,000 items, including events in Decatur, AL on Nov. 3 and Houston, TX on Nov. 9-11.