Ritchie Bros. keeps rolling with US$41+ million Rocky Mountain Regional Event

Rhea-AI Summary

The recent Ritchie Bros. Rocky Mountain online auction, held on October 6-7, attracted over 11,200 bidders from 62 countries, competing for more than 2,900 items. This event generated more than US$41 million in gross transaction value. Approximately 93% of the assets were sold to U.S. buyers. The auction saw a significant rise in pre-auction interest, with a 96% increase in online views and a 48% increase in watchlist additions compared to the previous event. Notable items included a Caterpillar motor scraper selling for US$415,000.

Positive

• Gross Transaction Value reached over US$41 million.
• Attracted 11,200+ bidders from 62 countries.
• 93% of items sold were purchased by U.S. buyers.
• 96% increase in online equipment views compared to previous event.
• Strong pricing across all asset categories, especially transportation equipment.

Negative

• None.

Oct. 6-7 online auction attracted 11,200+ bidders from 62 countries competing for 2,900+ items

DENVER, Oct. 12, 2021 /PRNewswire/ - Ritchie Bros. regional online auctions keep rolling, with its latest Rocky Mountain event attracting 11,200+ online bidders from 62 countries to compete for 2,900+ items, generating US$41+ million in gross transaction value. 

Equipment in the Oct. 6 – 7 auction was stored at Ritchie Bros.' locations in Denver, CO; Salt Lake City, UT; and its new local yard in Williston, ND. Approximately 93% of the assets in the auction were sold to U.S. buyers, while the remaining 7% was sold to international buyers from as far away as Honduras, India, and the Netherlands. Leading up to the auction, Ritchie Bros. saw a 96% increase in the number of online equipment views and a 48% increase in watchlist adds in comparison to the previous Rocky Mountain event held in August.

"Our regional auctions continue to attract unprecedented demand, driving great returns for consignors," said Chad Apland, Regional Sales Manager, Ritchie Bros. "These regional events create a lot of hype in the market—sellers want to be a part of something big and buyers love the increased selection. As a result, we once again saw strong pricing across every asset category in our Rocky Mountain auction, with transportation equipment pricing hitting record levels. If you have surplus equipment or trucks, contact us to sell today!"

Five Big Sellers:

• 2006 Caterpillar 623G elevating motor scraper – US$415,000
• 2014 Grove TMS800E 80-ton 8x4x4 hydraulic truck crane – US$370,000
• 2015 Caterpillar CT660L tri-drive hydro vac truck – US$210,000
• 2018 Peterbilt 367 tri-drive day cab heavy haul truck – US$145,000
• 2019 Freightliner 122SD Coronado day cab truck tractor – US$115,000

AUCTION QUICK FACTS: ROCKY MOUNTAIN REGIONAL (OCTOBER 2021)

• Gross Transaction Value (GTV): US$41+ million
• Total Registered Bidders: 11,200+
• Total Number of Lots: 2,900+
• Total Number of Consignors: 650+

Ritchie Bros. will sell more than 35,000 equipment items and trucks in its upcoming events, including an October 26 – 28 auction in Edmonton, AB and a giant crane auction for Sparks Industrial Inc. in Decatur, AL on November 3. 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-keeps-rolling-with-us41-million-rocky-mountain-regional-event-301397625.html

SOURCE Ritchie Bros.

FAQ

What was the gross transaction value of the Ritchie Bros. Rocky Mountain auction?

The gross transaction value was over US$41 million.

How many bidders participated in the Ritchie Bros. auction on October 6-7, 2021?

The auction attracted over 11,200 bidders.

What percentage of items sold at the Rocky Mountain auction were purchased by U.S. buyers?

Approximately 93% of items were sold to U.S. buyers.

What were some of the top-selling items at the Ritchie Bros. auction?

Top-selling items included a 2006 Caterpillar motor scraper for US$415,000 and a 2014 Grove truck crane for US$370,000.

Where can I find more information about upcoming Ritchie Bros. auctions?

More information can be found on the Ritchie Bros. website, including details on upcoming events.