Ritchie Bros. drives hot pricing in Houston with US$56+ million equipment auction

Rhea-AI Summary

The Ritchie Bros auction held in Houston on June 15-16, 2021, showcased a remarkable 30% increase in gross transaction value and bidder registrations from the previous year, totaling over US$56 million in gross transaction value (GTV) with 12,000 bidders competing for more than 4,000 items.

Notably, approximately 87% of the equipment was purchased by U.S. buyers, while international participation contributed 13%. The auction observed strong pricing, particularly for truck tractors and pipelayers, driven by unprecedented demand.

Positive

• 30% increase in gross transaction value and bidder registrations year over year.
• Generated over US$56 million in gross transaction value.
• 12,000 bidders participated, indicating high market interest.
• Strong pricing seen for truck tractors and pipelayers.

Negative

• None.

12,000 bidders from 58 countries competed for 4,000 items in the June 15 – 16, 2021 auction

HOUSTON, June 18, 2021 /PRNewswire/ - Ritchie Bros. June Houston, TX auction saw a 30% increase in both gross transaction value and bidder registrations year over year. The two-day unreserved auction attracted 12,000 bidders and generated US$56+ million in GTV.     

"Our marketplaces continue to drive record-breaking demand, with online equipment views per lot for our Houston auction up 84% from our June 2020 event," said Alan McVicker, Regional Sales Manager, Ritchie Bros. "This unprecedented demand is driving strong pricing across all equipment categories. In this week's Houston sale, we saw particularly hot pricing for truck tractors and vocational trucks. We also achieved great returns for a package of 65 pipelayers, despite the volatility in that industry. We encourage consignors to contact us today to take advantage of this 2021 seller's market."

Approximately 87 percent of the equipment in the Houston auction was purchased by U.S. buyers, including 52% sold to Texas buyers, while international buyers from as far away as Australia, Vietnam, and the United Kingdom purchased the remaining 13 percent. With 100% of bidding done online, Ritchie Bros. saw a 22% increase in watchlist adds per lot and a 39% increase in PriorityBids per lot.

Five Big Sellers:

• 2017 Caterpillar PL87 pipelayer – US$545,000
• 2008 Caterpillar 587T pipelayer – US$380,000
• 2017 Caterpillar PM622 cold planer – US$220,000
• 2015 Peterbilt 389 day cab heavy haul truck – US$150,000
• 2019 Peterbilt 365 tri-drive day cab heavy haul truck – US$112,500

AUCTION QUICK FACTS: HOUSTON, TX (JUNE 15 - 16 2021)

• Gross Transaction Value (GTV): US$56+ million
• Total Registered Bidders: 12,000
• Total Number of Lots: 4,000+
• Total Number of Consignors: 600+

Ritchie Bros. will sell more than 60,000 equipment items and trucks in its upcoming auctions, including a Northeast Regional Auction on June 22 – 23; a Great Lakes Regional Auction on June 24 – 25; and our next Texas auction in Fort Worth on July 20 – 21. 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. 

View original content:http://www.prnewswire.com/news-releases/ritchie-bros-drives-hot-pricing-in-houston-with-us56-million-equipment-auction-301315291.html

SOURCE Ritchie Bros.

FAQ

What were the total sales at the Ritchie Bros auction in Houston in June 2021?

The total sales at the Ritchie Bros auction in Houston in June 2021 exceeded US$56 million.

How many bidders participated in the Houston auction on June 15-16, 2021?

The Houston auction attracted 12,000 bidders from 58 countries.

What was the increase in bidder registrations at the Ritchie Bros auction year-over-year?

Bidder registrations increased by 30% year-over-year.

What percentage of equipment sold in the auction was purchased by U.S. buyers?

Approximately 87% of the equipment was purchased by U.S. buyers.

What was the main focus of the equipment sales at the Houston auction?

The auction saw particularly strong pricing for truck tractors and pipelayers.