Ritchie Bros. sells 5,100+ items for US$52+ million in Rocky Mountain Regional Event

Rhea-AI Summary

Ritchie Bros. held a successful Rocky Mountain Regional Event auction on March 8-9, 2023, selling over 5,100 items and generating more than US$52 million in gross transaction value. The auction attracted over 12,300 bidders from 45 countries, with 92% of buyers being from the U.S. Key sales included a Caterpillar D8R dozer sold for US$262,600 and a Peterbilt 567 dump truck for US$237,500. The company sold items for over 550 owners across Colorado, Utah, and North Dakota without minimum bids or reserves. Upcoming auctions include 6,400 items in Fort Worth, TX, from March 14-16 and 2,200+ items in Las Vegas, NV, on March 17.

Positive

• Generated over US$52 million in gross transaction value.
• Attracted more than 12,300 bidders from 45+ countries, indicating strong global interest.
• Sold over 5,100 items, enhancing inventory turnover and reflecting robust demand.

Negative

• None.

Two-day onsite and online auction attracted 12,300+ bidders from 45+ countries

DENVER, March 13, 2023 /PRNewswire/ - Last week, Ritchie Bros. sold 5,100+ items from three locations in its Rocky Mountain Regional Event, generating US$52+ million in gross transaction value.

The March 8 – 9, 2023 online and onsite auction attracted more than 12,300 bidders from 45+ countries, with buyers from the United States purchasing 92% of the equipment. The remaining 8% was purchased by international buyers from as far away as Australia, Poland, and Egypt.

"We had a good crowd and aggressive bidding both onsite and online, helping drive great returns for our consignors," said Chad Apland, Regional Sales Manager, Ritchie Bros. "We sold equipment for 550+ owners from yards in Colorado, Utah, and North Dakota to buyers across the country and around the world. Thank you to all our customers for continuing to put your trust in Ritchie Bros."

Equipment highlights in the Rocky Mountain Regional Event included 200+ excavators, 195+ truck tractors, 50+ dump trucks, 50+ skid steers, as well as dozers, loaders, and more. All items were sold without minimum bids or reserve prices.

Five Big Sellers:

• 2001 Caterpillar D8R dozer – US$262,600
• 2021 Peterbilt 567 8x4 tri-axle dump truck – US$237,500
• 2022 Peterbilt 389 6x4 heavy haul truck tractor – US$230,000
• 2013 Caterpillar 740B articulated dump truck – US$225,000
• 2015 Metso Lokotrack LT106 tracked jaw crushing plant – US$220,000

AUCTION QUICK FACTS: ROCKY MOUNTAIN REGIONAL EVENT (MARCH 2023)

• Gross Transaction Value: US$52+ million
• Items Sold: 5,100+
• Bidders: 12,300+
• Consignors: 550+

Ritchie Bros. has more than 80,000 equipment items and trucks in its upcoming auctions and online marketplaces, including 6,400 items selling in Fort Worth, TX on March 14 – 16; 2,200+ items selling in Las Vegas, NV on March 17; and 3,700+ items selling in a Great Plains Regional Event on March 22 – 23. For a complete list of upcoming auctions and events, including weekly IronPlanet auctions and Marketplace-E events, visit rbauction.com/auctions.

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 Ritchie Bros. 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 results of the Ritchie Bros. auction on March 8-9, 2023?

The auction generated over US$52 million in gross transaction value from the sale of more than 5,100 items.

How many bidders participated in the Ritchie Bros. Rocky Mountain Regional Event?

The auction attracted more than 12,300 bidders from over 45 countries.

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

92% of the equipment was purchased by buyers from the United States.

What were the highlights of the equipment sold at the Ritchie Bros. auction?

Highlights included a Caterpillar D8R dozer sold for US$262,600 and a Peterbilt 567 dump truck for US$237,500.

When and where are the next Ritchie Bros. auctions scheduled?

Upcoming auctions include 6,400 items in Fort Worth, TX, from March 14-16 and 2,200+ items in Las Vegas, NV, on March 17.