Ritchie Bros. kicks off March with big auctions in Edmonton and the U.S. Rocky Mountain region
On March 7, 2022, Ritchie Bros reported successful online auctions in Edmonton and the Rocky Mountain region, attracting over 26,250 bidders and generating more than US$95 million in gross transaction value. Key sales included a 2017 CMI Bandit concrete plant at US$500,000 and a Caterpillar dozer for CA$317,000 (US$248,888). The Edmonton auction alone accounted for CA$59 million (US$46 million). The company plans additional auctions, with significant demand for oil and gas equipment in Alberta expected to drive future sales.
- Generated over US$95 million in gross transaction value from recent auctions.
- Attracted 26,250+ bidders across two major auction events.
- Strong pricing leading to increased interest from consignors post-auction.
- None.
The two online auctions attracted 26,250+ bidder registrations & US
VANCOUVER, BC, March 7, 2022 /PRNewswire/ - A week after selling 11,000+ items in Orlando, FL, Ritchie Bros. was right back at it with multi-day online auctions in Edmonton, AB and the Rocky Mountain region of the U.S. The two unreserved auctions attracted a combined 26,250+ bidder registrations and US
On March 2 – 3 Ritchie Bros. sold 3,700+ equipment items from five locations in one Rocky Mountain regional event. Highlights included a 2017 CMI Bandit 12 portable dry-mix concrete plant that sold for US
"We achieved excellent results in last week's Rocky Mountain regional event, resulting in a lot of very happy consignors, many of whom are eager to sell again soon," said Chad Apland, Regional Sales Manager (Denver), Ritchie Bros. "Immediately following the auction we began receiving calls from customers asking how quickly they can get their equipment on the market to take advantage of the strong pricing we are achieving today. We have IronPlanet sales every Thursday, our Marketplace-E platform is stocked 24/7 with premier assets, and our next Rocky Mountain regional event will be in May—whatever you need, we are here to help!"
Ritchie Bros. also held its first Edmonton, AB auction of 2022 last week, selling CA
"I think Ritchie Bros. is the benchmark for selling equipment, with the reputation they have built and the services they provide," said Jim Bardick of J&V Trucking Ltd., who conducted a fleet realignment in last week's Edmonton auction. "Their financial arm is a huge advantage for sellers and a great benefit for buyers. Most banks are so restrictive, but Ritchie Bros. Financial Services understands equipment and auctions, which is very important when items are selling for a premium. At the end of the sale, we had exceeded expectations and were very proud of how Ritchie Bros. represented our company and our equipment."
Ritchie Bros. has more than 60,000 items listed in its upcoming auctions and online marketplaces, including a three-day Fort Worth, TX auction with 4,000+ items on March 15 – 17 and a six-day Edmonton site auction in early May.
"We already have a big complete dispersal from Crow Enterprises consigned to our May Edmonton sale, with some excellent dirt moving equipment," said Trent Vandenberghe, Regional Sales Manager (Edmonton), Ritchie Bros. "The recent rise in oil prices is driving new exploration in Alberta and increased demand for oil & gas-related equipment. Now is a great time to sell—please don't hesitate to contact us so we can start advertising your assets to the world."
AUCTION QUICK FACTS | ||
Rocky Mountain Regional Event (Mar. 2 – 3, 2022) | Edmonton, AB (Mar. 1 – 3, 2022) | |
Gross Transaction Value | US | CA |
Total Registered Bidders | 11,000+ from 49 countries | 15,200+ from 51 countries |
Number of Lots | 3,700+ | 4,500+ |
Number of Consignors | 600+ | 690+ |
About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE: RBA) (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.
View original content:https://www.prnewswire.com/news-releases/ritchie-bros-kicks-off-march-with-big-auctions-in-edmonton-and-the-us-rocky-mountain-region-301496486.html
SOURCE Ritchie Bros.
FAQ
What was the total gross transaction value for RBA's March 2022 auctions?
How many bidders registered for RBA's March 2022 auctions?
What were some notable equipment items sold in RBA's recent auctions?
When is RBA's next Rocky Mountain regional auction scheduled?
What was the gross transaction value for the Edmonton auction held in March 2022?
