Ritchie Bros. sells 2,700+ items for CA$51+ million in Grande Prairie, AB

Rhea-AI Summary

Ritchie Bros. conducted a successful online auction from November 22-24, 2021, in Grande Prairie, AB, attracting over 10,000 bidders from 47 countries. The event sold more than 2,700 items, achieving a gross transaction value exceeding CA$51 million (US$41 million). Approximately 96% of the equipment was sold to Canadian buyers, with 49% going to Albertans. The auction featured a variety of assets, including trucks and forestry equipment. Ritchie Bros. continues to offer multiple online auction options and has upcoming events in various Canadian locations.

Positive

• Generated gross transaction value of CA$51+ million (US$41+ million)
• Attracted over 10,000 bidders from 47 countries
• Sold 2,700+ items, indicating strong market demand
• 96% of sales went to Canadian buyers, showing robust local interest

Negative

• None.

November 22 – 24 online unreserved auction attracts 10,000+ bidders from 47 countries

GRANDE PRAIRIE, AB, Nov. 29, 2021 /PRNewswire/ - Ritchie Bros. held a three-day unreserved auction in Grande Prairie, AB last week selling 2,700+ equipment items and trucks for 400+ consignors, generating CA$51+ million (US$41+ million) in gross transaction value.

The November 22 - 24, 2021 online auction attracted 10,000+ bidders from 47 countries. Approximately 96% of the equipment was sold to Canadian buyers, including 49% sold to Albertans, while the remaining 4% was purchased by international buyers from as far away as India, Vietnam, and Ukraine.

"We had a great selection of late-model, low-hour assets in Grande Prairie, with something for everyone, including yellow iron, trucks, a nice aggregate package, forestry equipment, and even real estate," said Terry Moon, Regional Sales Manager, Ritchie Bros. "We continued to see very aggressive bidding and robust pricing across almost every single asset category in this auction. If you have equipment and trucks to sell, I encourage you to contact us to consign today."

Mr. Moon continued, "We have online selling options with IronPlanet, Marketplace-E, Ritchie List, and an Edmonton site sale on December 9 – 11. In fact, there is a forestry retirement dispersal consignment on display in Grande Prairie right now that will be selling virtually in Edmonton. Check out the complete auction listings at rbauction.com/Edmonton."

Five Big Sellers from Grande Prairie:

• 2020 Peterbilt 367 tri-drive sleeper hydro vac truck – CA$460,000 (US$363,860)
• 2016 Tigercat 870C feller buncher – CA$380,000 (US$300,580)
• 2020 Volvo EC350EL hydraulic excavator – CA$380,000 (US$300,580)
• 2019 MDS M515 tracked trommel screening plant – CA$375,000 (US$296,625)
• 2020 Kenworth W990 sleeper truck tractor – CA$210,000 (US$166,110)

AUCTION QUICK FACTS: GRANDE PRAIRIE, AB (NOVEMBER 2021)

• Gross Transaction Value (GTV): CA$51+ million (US$41+ million)
• Total Registered Bidders: 10,000+
• Total Number of Lots: 2,750+
• Total Number of Consignors: 400

Ritchie Bros. will sell more than 70,000 equipment items and trucks in its upcoming auctions and online marketplaces, including 1,600+ items selling in Lethbridge, AB on November 30 – December 1; 3,000+ items selling in Toronto, ON on December 6 – 8; and  1,300+ items selling in Saskatoon, SK on December 8 – 9.

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.

FAQ

What were the total sales from the Ritchie Bros. auction held on November 22-24, 2021?

The total sales from the auction exceeded CA$51 million (US$41 million).

How many bidders participated in the Ritchie Bros. auction in Grande Prairie, AB?

Over 10,000 bidders participated in the auction.

What percentage of equipment sold in the auction went to Canadian buyers?

Approximately 96% of the equipment was sold to Canadian buyers.

What items were featured in the Ritchie Bros. auction?

The auction featured trucks, forestry equipment, and other late-model, low-hour assets.

When is the next Ritchie Bros. auction taking place?

The next auction is scheduled for December 9-11 in Edmonton, AB.