Ritchie Bros. sells 4,400+ items for US$57+ million in Houston, TX

Rhea-AI Summary

Ritchie Bros. held a successful unreserved online auction from April 12-14, attracting over 10,750 bidders from 55 countries. The auction generated more than US$57 million by selling over 4,400 equipment items and trucks. Approximately 88% of sales were to U.S. buyers, with Texans accounting for 44% of purchases. The auction saw a 70% increase in online equipment views year-over-year. Notable sales included a 2017 Manitowoc crane for US$470,000 and a 2020 Caterpillar excavator for US$460,000. Part two of a major dispersal will occur in June.

Positive

• Generated US$57+ million in gross transaction value.
• Attracted over 10,750 bidders, indicating strong market interest.
• Sold over 4,400 equipment items and trucks, enhancing inventory turnover.
• Achieved a 70% year-over-year increase in online equipment views.

Negative

• None.

April 12 – 14 unreserved online auction attracts 10,750+ bidders from 55 countries

HOUSTON, TX, April 18, 2022 /PRNewswire/ - With tight equipment supply in the market, Ritchie Bros. continues to deliver selection for buyers and great returns for consignors, selling more than 4,400 equipment items and trucks for US$57+ million from its Houston, TX auction site last week.

The April 12 – 14 unreserved auction attracted 10,750+ bidders from 55 countries, with approximately 88% of the equipment being purchased by U.S. buyers, including 44% purchased by Texans. The remaining 12% was purchased by international buyers from as far away as Bolivia, Taiwan, and the Netherlands. Leading up to the auction, online equipment views for the Houston April auction were up 70% year over year.

"We continue to see incredibly strong pricing for late-model equipment and trucks, resulting in a lot of happy consignors, eager to sell again," said Chuck Roberson, Regional Sales Manager, Ritchie Bros. "Last week in Houston, we had a fantastic selection of assets available, including part one of a complete dispersal for MDS Boring & Drilling, which included pipelayers, earthmoving equipment, trucks, and trailers. Part two of the MDS dispersal will be sold in our next Houston live auction in June. Contact us today to consign your equipment or trucks to the event!"

Ritchie Bros. has dozens of upcoming online and site events in its auction calendar, including weekly IronPlanet auctions each Thursday, a two-day Timed Auction in Los Angeles, CA on May 12 – 13, and a three-day auction in Fort Worth, TX on May 17 – 19, 2022. The Company also offers Marketplace-E, with 'Make Offer' and 'Buy Now' options; and Ritchie List, which is designed for private sale.

Five Big Sellers in Houston:

• 2017 Manitowoc 11000-1 110-ton crawler crane – US$470,000
• 2020 Caterpillar 349FL hydraulic excavator – US$460,000
• Three Caterpillar 587T pipelayers – US$330,000 each
• 2019 Caterpillar D6T LGP crawler tractor – US$290,000
• 2020 Peterbilt 567 8x4 truck tractor – US$242,500

AUCTION QUICK FACTS – HOUSTON, TEXAS (APRIL 2022)

• Gross transaction value (GTV): US$57+ million
• Lots/Items: 4,400+
• Bidders: 10,750+ from 55 countries
• Consignors: 650+

For more information on equipment pricing and trends, register for Ritchie Bros. monthly Market Trends Reports at rbassetsolutions.com/market-trends-report. For a complete list of upcoming events, additional services, and more, visit RitchieBros.com. 

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 was the total gross transaction value at the Ritchie Bros April 2022 auction?

The total gross transaction value was over US$57 million.

How many items were sold at the Ritchie Bros auction in Houston?

Over 4,400 equipment items and trucks were sold.

How many bidders participated in the April 2022 Ritchie Bros auction?

The auction attracted over 10,750 bidders from 55 countries.

What percentage of equipment was purchased by U.S. buyers at the auction?

Approximately 88% of the equipment was purchased by U.S. buyers.

When is the next auction for the remaining equipment from MDS Boring & Drilling?

Part two of the MDS dispersal will be sold in the next Houston live auction in June.