Ritchie Bros. sells 8,100+ items for CA$59+ million in September Edmonton auction

Rhea-AI Summary

Ritchie Bros. conducted its fourth Edmonton auction from September 8-10, 2021, featuring over 8,100 equipment items and trucks. The auction attracted 15,200+ bidders and generated a gross transaction value exceeding CA$59 million (US$46 million). Approximately 91% of the items sold were to Canadian buyers, with strong demand noted due to a prolonged construction season in Alberta. Key sales included a Komatsu HM400-5 dump truck, which sold for CA$362,500. Ritchie Bros. plans more significant auctions later in September and continues to support global equipment sales.

Positive

• Gross transaction value reached CA$59+ million (US$46+ million).
• Over 15,200 bidders participated, indicating strong market interest.
• 91% of equipment was sold to Canadian buyers, showing local demand.
• High project completion rates in Alberta led to increased equipment demand.

Negative

• None.

15,200+ online bidders from 62 countries registered for the Sep. 8 – 10, 2021 unreserved auction

EDMONTON, AB, Sept. 13, 2021 /PRNewswire/ - Ritchie Bros. held its fourth Edmonton site auction of the year last week, selling 8,100+ equipment items and trucks for 1,100+ consignors. The three-day online auction attracted more than 15,200 online bidders and generated CA$59+ million (US$46+ million) in gross transaction value.

Approximately 91% of the equipment in the September 8 – 10, 2021 online auction was sold to buyers in Canada, including 53% sold to Alberta buyers, 15% sold to British Columbia, and 9% to Saskatchewan. The remaining 9% of the equipment was sold to International buyers from as far away as India, Ireland, and South Korea.

"This has been one of the longest and driest construction seasons ever in Alberta, resulting high project completion rates and strong demand from contractors needing equipment," said Andrew Lutic, Regional Sales Manger, Ritchie Bros. "Companies that have surplus equipment are being rewarded with strong pricing. In fact, many consignors last week told us they wish they had more equipment to sell, but still have projects to finish up. Our next big Edmonton auction will be held in late October—I encourage consignors to contact us early so we can start advertising their gear to the world."

Five Big Sellers:

• 2019 Komatsu HM400-5 6x6 articulated dump truck – CA$362,500 (US$286,665)
• 2015 Komatsu D375A-6 crawler tractor – CA$270,000 (US$213,516)
• 2015 Western Star 4900SA 17,465-litre tri-drive vac truck – CA$240,000 (US$189,792)
• 2001 Cozad 16+16 lowboy – CA$172,500 (US$136,413)
• 2018 Komatsu WA250PZ-6 wheel loader – US$162,500 (US$128,505)

AUCTION QUICK FACTS: EDMONTON, AB (SEPTEMBER 2021)

• Gross Transaction Value (GTV): CA$59+ million (US$46+ million)
• Total Registered Bidders: 15,200+
• Total Number of Lots: 8,100+
• Total Number of Consignors: 1,100+

Ritchie Bros. will sell more than 50,000 equipment items and trucks in its upcoming events, including Montreal, QC on Sep. 15 – 16; Toronto, ON on Sep. 22 – 24; and Truro, NS on Sep. 28 – 29. The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.

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-sells-8-100-items-for-ca59-million-in-september-edmonton-auction-301374942.html

SOURCE Ritchie Bros.

FAQ

What was the total gross transaction value from Ritchie Bros.' September 2021 auction?

The total gross transaction value from the September 2021 auction was CA$59+ million (US$46+ million).

How many items were sold during Ritchie Bros.' September 2021 Edmonton auction?

Over 8,100 items were sold during the September 2021 Edmonton auction.

When did Ritchie Bros. hold its fourth Edmonton auction in 2021?

Ritchie Bros. held its fourth Edmonton auction from September 8 to 10, 2021.

How many registered bidders participated in the September 2021 auction?

The September 2021 auction had more than 15,200 registered bidders.

What percentage of equipment sold in the September auction was purchased by Canadian buyers?

Approximately 91% of the equipment sold in the September auction was purchased by Canadian buyers.