Ritchie Bros. hits CA$53+ million with final Edmonton auction of 2021

Rhea-AI Summary

Ritchie Bros. concluded its 2021 Edmonton auction series, achieving a gross transaction value of CA$53+ million (US$42+ million) from 4,400+ sold items. Over the year, the company sold more than 47,000 items totaling CA$517+ million. The December auction attracted 12,500+ bidders, with 93% of purchases made by Canadian buyers, and notable high-value items included a 2018 Tigercat feller buncher sold for CA$460,000. Demand remains strong, and several upcoming auctions are scheduled, including a Montreal auction with close to 3,000 items.

Positive

• Achieved a gross transaction value of CA$53+ million in December auction.
• Sold a total of 47,000+ items in 2021, generating CA$517+ million.
• Attracted 12,500+ bidders for the December auction.

Negative

• None.

Through six auctions this year, the Edmonton, AB site sold 47,000+ items for CA$517+ million

EDMONTON, AB, Dec. 13, 2021 /PRNewswire/ - Ritchie Bros. conducted its sixth and final Edmonton auction of the year last week, selling 4,400+ equipment items and trucks for 780+ owners, achieving CA$53+ million (US$42+ million) in gross transaction value.

Approximately 93% of the items in the December 9 - 11 online auction was purchased by Canadian buyers, including 55% sold to Albertans. The remaining 7% was purchased by international buyers from as far away as Ireland, Israel, and Singapore.  

"Pricing in our Edmonton sale remained strong across all major equipment and truck categories," said Andrew Lutic, Regional Sales Manager, Ritchie Bros. "If you have surplus equipment to sell, I encourage you to contact us today so you can take advantage of this sellers' market. We are attracting record demand today and achieving record pricing across all our marketplaces."

Ritchie Bros. conducted six online auctions from its Edmonton site in 2021, registering 106,000+ bidders and selling 47,000+ items for more than CA$517 million.

"Thank you, to all our loyal customers," added Trent Vandenberghe, Regional Sales Manager, Ritchie Bros. "We greatly appreciate the trust you put in us and we look forward to continuing to help your businesses in the future."

Five Big Sellers from Edmonton in December:

• 2018 Tigercat 870C feller buncher – CA$460,000 (US$363,768)
• 2014 Komatsu D155AX-7 crawler tractor – CA$390,000 (US$308,412)
• 2019 Kenworth T800 tri-drive sleeper truck tractor – CA$240,000 (US$189,792)
• 2017 Hitachi ZX350LC-5N hydraulic excavator – CA$220,000 (US$173,976)
• 2009 ETM 120-ton, 64-wheel lowboy – CA$192,500 (US$152,229)

AUCTION QUICK FACTS: EDMONTON (DECEMBER 2021)

• Gross Transaction Value (GTV): CA$53+ million (US$42+ million)
• Total Registered Bidders: 12,500+
• Total Number of Lots: 4,400+
• Total Number of Consignors: 780+

Ritchie Bros. will sell more than 30,000 equipment items and trucks in its upcoming auctions and online marketplaces, including a Montreal, QC auction on December 14 – 15 with close to 3,000 items and a B.C. Regional Event on December 16 – 17 with approximately 1,000 items selling by Timed Auction.

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 Ritchie Bros. December 2021 auction?

The gross transaction value was CA$53+ million (US$42+ million).

How many items were sold in Ritchie Bros. 2021 Edmonton auctions?

Ritchie Bros. sold over 47,000 items in its 2021 Edmonton auctions.

What percentage of items were purchased by Canadian buyers in the December 2021 auction?

Approximately 93% of the items were purchased by Canadian buyers.

What notable equipment items were sold in the December 2021 auction?

A 2018 Tigercat feller buncher sold for CA$460,000, among other high-value items.

When is the next auction scheduled after the December 2021 auction?

The next auction is scheduled in Montreal, QC, on December 14-15, 2021.