Ritchie Bros. returns to Rocky Mountain region with US$50+ million auction

Rhea-AI Summary

Ritchie Bros held a successful auction from December 1-2, selling over 3,800 items from seven locations, attracting more than 11,000 bidders from 56 countries and generating over US$50 million in gross transaction value. About 96% of items were purchased by U.S. buyers, with Colorado, Texas, and Utah being the top states. The auction showcased significant items like a 2015 Caterpillar 627K motor scraper that sold for US$500,000. Ritchie Bros plans to hold additional auctions, including over 60,000 items in upcoming sales.

Positive

• Generated over US$50 million in gross transaction value.
• Attracted more than 11,000 bidders, indicating strong market interest.
• Sold approximately 96% of items to U.S. buyers, enhancing local market engagement.
• Led to a successful complete dispersal for Frontier Services Inc., showcasing effective sales capabilities.

Negative

• None.

3,800+ items sold from seven locations on Dec. 1 – 2, attracting 11,000+ bidders from 56 countries

DENVER, Dec. 6, 2021 /PRNewswire/ - Ritchie Bros. returned to the Rocky Mountain region last week to sell 3,800+ equipment items and trucks from seven different locations in one online event. The two-day auction attracted 11,000+ bidders and generated more than US$50 million in gross transaction value.

Approximately 96% of the equipment in the December 1 – 2 auction was sold to U.S. buyers, including 15% sold to Colorado, 10% to Texas, and 8% to Utah. The remaining 4% was purchased by international buyers from as far away as Malaysia, Colombia, and Ecuador. Leading up to the auction online equipment views and PriorityBids per lot were both up 19% year over year.

"Our Regional Auctions continue to attract quality equipment from an expansive region, drawing record attendance, driving strong equipment and truck prices, and exceeding customer expectations," said Chad Apland, Regional Sales Manager, Ritchie Bros. "We would like to thank all the customers who participated in our Rocky Mountain events this year—thank you for your continued trust. If you have surplus equipment to sell, contact us today!"

More than 550 equipment owners consigned equipment to the Rocky Mountain Regional Event, including a complete dispersal of 500+ items for Frontier Services Inc., a midstream pipeline company based in Billings, MT.

"The auction turned out great thanks to Ritchie Bros.' ability to reach such a wide range of buyers with their marketing," said Reid Lawson, Vice President of Frontier Services Inc. "They are such a professional organization, with an amazing team. Now that we've sold our entire fleet through Ritchie Bros. we can return to our roots in agriculture and will likely be back visiting Ritchie Bros. for some different equipment in the future."

Five Big Sellers from the Rocky Mountain Regional Event:

• 2015 Caterpillar 627K motor scraper – US$500,000
• 2018 Metso LT120 34" x 48" crawler jaw crusher – US$485,000
• 2018 Caterpillar D6T XWVP crawler tractor – US$395,000
• 2019 Caterpillar 982M wheel loader – US$365,000
• 2020 Kenworth T800 tri-axle day cab heavy haul truck – US$202,500

AUCTION QUICK FACTS: ROCKY MOUNTAIN REGIONAL EVENT (DECEMBER 2021)

• Gross Transaction Value (GTV): US$50+ million
• Total Registered Bidders: 11,000+
• Total Number of Lots: 3,800+
• Total Number of Consignors: 550+

Ritchie Bros. will sell more than 60,000 equipment items and trucks in its upcoming auctions and online marketplaces, including 4,200+ items selling in Fort Worth, TX on Dec. 7 – 9; 2,200+ items in a Phoenix, AZ auction on Dec. 8; and  1,800+ items selling in a Timed Auction in Sacramento, CA on Dec. 8.

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.