Ritchie Bros. hits US$40 million with Rocky Mountain Regional auction

Rhea-AI Summary

Ritchie Bros held a successful online auction from August 4-5, 2021, generating US$40 million in gross transaction value by selling over 3,900 items. More than 9,900 bidders from 62 countries participated, with approximately 91% of assets sold to U.S. buyers. The auction featured high-value items, including a 2001 Manitowoc crane sold for US$475,000. Upcoming auctions include events in Houston, Orlando, and Southeast Regional in September.

Positive

• Gross transaction value reached US$40 million.
• Attracted over 9,900 registered bidders from 62 countries.
• 91% of items sold to U.S. buyers, demonstrating strong domestic demand.

Negative

• None.

August 4 – 5 online auction attracted 9,900+ bidders from 62 countries for 3,900+ items sold

DENVER, Aug. 11, 2021 /PRNewswire/ - Ritchie Bros. regional online auctions continue to deliver stellar results for its consignors. Last week the company sold 3,900+ items from its sites in Denver, CO; Salt Lake City, UT; and Williston, ND in one combined online Rocky Mountain event generating US$40 million in gross transaction value. 

More than 9,900 people from 62 countries registered for the August 4 – 5, 2021 unreserved auction. Approximately 91% of the assets sold to U.S. buyers, including 23% sold to Colorado, 10% to Utah, and 2% to North Dakota. The remaining nine percent was sold to international buyers from as far away as Australia, Israel, and Vietnam.

"We had a lot of happy customers after this auction with sellers getting great prices and buyers filling out their fleets for summer and fall work," said Chad Apland, Regional Sales Manager, Ritchie Bros. "Thank you to all our customers for continuing to put your trust in Ritchie Bros. For those unable to get what they wanted this week we have a ton of upcoming buying opportunities, including weekly featured online auctions at IronPlanet and Marketplace-E."

Five Big Sellers:

• 2001 Manitowoc 2250 300-ton self-erecting crawler crane – US$475,000
• 2016 Tesmec TRS1075 crawler bucket wheel trencher – US$275,000
• 2012 Caterpillar D8T crawler tractor – US$225,000
• 2014 Peterbilt 367 tri-drive hydro vac truck – US$200,000
• 2018 Dragon 9500-gallon tri-axle lead tank trailer – US$130,000

AUCTION QUICK FACTS: ROCKY MOUNTAIN REGIONAL (AUGUST 2021)

• Gross Transaction Value (GTV): US$40+ million
• Total Registered Bidders: 9,900+
• Total Number of Lots: 3,900+
• Total Number of Consignors: 600+

Ritchie Bros. will sell more than 35,000 equipment items and trucks in its upcoming events, including a Houston, TX auction on August 24 – 26; an Orlando, FL auction on September 2 – 3; and a Southeast Regional auction on September 9 - 10. 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:https://www.prnewswire.com/news-releases/ritchie-bros-hits-us40-million-with-rocky-mountain-regional-auction-301353027.html

SOURCE Ritchie Bros.

FAQ

What was the gross transaction value for the Ritchie Bros auction on August 4-5, 2021?

The gross transaction value reached US$40 million.

How many bidders registered for the Ritchie Bros auction in August 2021?

More than 9,900 bidders registered for the auction.

What percentage of items sold at the Ritchie Bros auction went to U.S. buyers?

Approximately 91% of items sold were acquired by U.S. buyers.

What were some of the high-value items sold in the auction?

High-value items included a 2001 Manitowoc crane sold for US$475,000.

What upcoming auctions does Ritchie Bros have scheduled?

Upcoming auctions include events in Houston, Orlando, and Southeast Regional in September 2021.