Ritchie Bros. Orlando 2022 auction set to go live for Feb. 21 - 26

Rhea-AI Summary

Ritchie Bros. is gearing up for its annual Orlando auction from February 21-26, 2022. This event marks the return of live bidding after two years. Record demand in the market has led to rising prices, with truck tractor prices soaring 46% year over year. The auction expects to attract over 22,000 bidders globally, promoting strong pricing across asset categories. Consignors can pre-list items on Marketplace-E, with unsold items transitioning directly to the February auction. Last year's event generated over $191 million in gross transaction value, highlighting the auction's significance.

Positive

• Record demand leading to strong pricing across almost every asset category.
• Truck tractor prices increased by 46% year over year.
• Expecting over 22,000 bidders from 80 countries for the February auction.
• Successful past auction with $191 million gross transaction value.

Negative

• None.

Consign today and take advantage of unprecedented global demand & superior price realization

ORLANDO, Fla., Oct. 26, 2021 /PRNewswire/ - Ritchie Bros. is now accepting consignments for its next massive annual Orlando auction on February 21 – 26, 2022, which will host live bidding onsite for the first time in two years. Consign early and your items could be pre-listed on Ritchie Bros.' Marketplace-E solution, attracting more buyers for your equipment, with an opportunity to sell now and put cash in your hands before year-end. Any item not sold by January 15, 2022, will cascade directly into the February Orlando event.

"We are attracting record levels of demand today, resulting in strong pricing across almost every single asset category—it's a great time to sell," said Kari Taylor, Chief Revenue Officer, Ritchie Bros. "If you contact us today, we can get your items pre-listed on our Marketplace-E solution with Make Offer and Buy Now prices. If your items don't sell on Marketplace-E, we will simply cascade them into our February Orlando auction. It's the best of both worlds!"

Over the past year Ritchie Bros. has seen a steady growth in demand, with 160 million visits to its online marketplaces. Contractors today need equipment and are being extremely aggressive in their bidding. According to Ritchie Bros.' latest Market Trends Report, truck tractor prices are up 46% year over year in the U.S. (for the three months ending Sep. 30, 2021), while medium earthmoving, vocational truck, and aerial equipment pricing is up 38%, 35%, and 34% respectively. Prices are strong and consignors with surplus equipment are being rewarded.

With items pre-listed on Marketplace-E, consignors will benefit from a team of multilingual Marketplace-E Specialists who leverage Ritchie Bros. analytics and demand data to help find the right buyer. If an item is not sold by January 15, it will shift into the company's biggest auction of the year.

"Orlando is our premier global auction, with equipment and buyers from across North America and around the world," added Jeff Gillmer, Vice President, Sales. "Last February we sold 12,000 items in Orlando for more than 1,000 companies, achieving US$191+ million in gross transaction value. We attracted 22,000 bidders from 80 different countries, all participating online and in real time."

Mr. Gillmer added, "We are also very excited to welcome customers back to Orlando for auction days in February. This destination event has always been a huge networking opportunity for our customers, and we are happy we can be together again soon."

To find out more about Ritchie Bros. upcoming Orlando auction, including details about pre-listing items on Marketplace-E, visit rbauction.com/Orlando2022. Companies and individuals looking to consign should contact their local sales representative or the Orlando site directly at +1.855-331-5789.  

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-orlando-2022-auction-set-to-go-live-for-feb-21---26-301408371.html

SOURCE Ritchie Bros.

FAQ

What are the dates for the Ritchie Bros. Orlando auction in 2022?

The Ritchie Bros. Orlando auction is scheduled for February 21-26, 2022.

What is the expected impact of the Orlando auction on RBA stock?

The Orlando auction could positively impact RBA stock by driving demand and pricing for assets.

How much did Ritchie Bros. generate in gross transaction value in the previous Orlando auction?

Last year's Orlando auction generated over $191 million in gross transaction value.

What significant price changes have been observed in the equipment market?

Truck tractor prices have increased by 46% year over year, with other categories showing strong price growth as well.

How can consignors benefit from pre-listing their items?

Consignors can attract more buyers and potentially sell before the auction by pre-listing their items on Marketplace-E.