Ritchie Bros. sells CA$197+ million of equipment in massive six-day Edmonton auction

Rhea-AI Summary

Ritchie Bros. achieved a record-breaking CA$197+ million (US$162+ million) in sales during its six-day auction in Edmonton from May 3-8, 2021. The auction featured over 13,600 items, drawing more than 28,700 bidders from 70+ countries. Strong demand was particularly noted for earthmoving equipment, with significant sales to Canadian buyers. Notably, the event saw a 64% increase in equipment views compared to May 2020, highlighting Ritchie Bros.' operational strength and online auction capabilities.

Positive

• Record Gross Transaction Value of CA$197+ million (US$162+ million).
• Record number of items sold: 13,600+.
• Record total registered bidders: 28,700+.
• Strong demand for earthmoving equipment, indicating a healthy market.

Negative

• None.

The record-setting 13,600+ items sold attracted 28,700+ bidders and 1.8+ million equipment views

/PRNewswire/ - Ritchie Bros.' operational prowess and online expertise were on full display last week in Alberta, as the company sold a record-setting 13,600+ items over six days for CA$197+ million (US$162+ million). The May 3 – 8, 2021 auction attracted 28,700+ online bidders from 70+ countries—surpassing the previous company record, set in Edmonton last May, by 22 percent.

EDMONTON, May 10, 2021 "Auction after auction we continue to drive record demand, and our Edmonton event proved that if you have equipment to sell, we have lots of eager buyers waiting," said Trent Vandenberghe, Regional Sales Manger, Ritchie Bros. "We saw particularly strong pricing last week in Edmonton for earthmoving equipment, with skid steers, multi-terrain loaders, excavators, motor scrapers, and dozers leading the way. It's a seller's market right now and we have a ton of great consignment options available, with hybrid onsite/online auctions, weekly online featured events, and Marketplace-E."

Approximately 92% of the equipment in the Edmonton May auction was sold to buyers in Canada, including 53% sold to Alberta, 15% to British Columbia, and 9% to Saskatchewan. The remaining 8% of the equipment was sold to International buyers from as far away as Belgium, Chile, India, and Thailand. With 100% online bidding, customers completed more than 1.8 million equipment views—up 64% from May 2020—and made 30,000+ PriorityBids in the Edmonton sale.

Five Big Sellers:

• 2013 Caterpillar 627H motor scraper – CA$475,000 (US$386,698)
• 2008 Sandvik CH440 Hydrocone cone crusher – CA$450,000 (US$366,345)
• 2014 Caterpillar D8T dozer – CA$440,000 (US$358,204)
• 2019 Vaderstad Seed Hawk 45-series 60-ft air drill – CA$420,000 (CA$341,922)
• 2014 Kenworth C500 T/A tri-drive w/ a National NBT45TM boom truck – CA$367,500 (US$299,182)

Equipment in the Edmonton online auction was sold for a record 1,750+ consignors, including 30 items for Calgary-based Mike Vail Trucking Ltd.

"We like the hassle-free aspect of working with Ritchie Bros.," said Michael Vail, Owner and General Manager of Mike Vail Trucking. "We make sure the equipment is work-ready, drop it off at the site, and Ritchie Bros. takes care of everything else. Typically, we sell in the Edmonton spring auction because bigger auctions draw more attention and this year was no different. We were very happy with the results."

AUCTION QUICK FACTS: EDMONTON, AB (MAY 2021)

• Gross Transaction Value (GTV): CA$197+ million (US$162+ million)
• Total Registered Bidders: 28,700+ *NEW COMPANY RECORD
• Total Number of Lots: 13,600+ *NEW COMPANY RECORD
• Total Number of Consignors: 1750+ *NEW COMPANY RECORD

Ritchie Bros. will sell more than 60,000 equipment items and trucks in its upcoming auctions, including a Toronto, ON auction on May 11 – 14; Chilliwack, BC on May 25 – 26; and Montreal, QC on May 26 – 27. The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.

Want to learn more? Ritchie Bros. Canadian Industry Panels TODAY at 9 a.m. & 11 a.m. Pacific

On May 10, 2021, Ritchie Bros. will host two industry panels discussing key issues impacting the Canadian construction and agriculture industries, including supply/demand metrics, macroeconomic issues, and more. These free one-hour online discussion panels will feature guest speakers Craig Klemmer (Principal Agriculture Economist for Farm Credit Canada); John Schmeiser (CEO of Western Equipment Dealers Association); and Joe Wrobel (2020 President of the Canadian Construction Association); alongside Ritchie Bros. experts. Register for free online at rbauction.com/blog.

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. 

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SOURCE Ritchie Bros.

FAQ

What was Ritchie Bros.' gross transaction value in the May 2021 auction?

Ritchie Bros. achieved a gross transaction value of CA$197+ million (US$162+ million) in the May 2021 auction.

How many items were sold in the May 2021 Ritchie Bros. auction?

A record-setting 13,600+ items were sold during the May 2021 auction.

How many bidders participated in Ritchie Bros.' May 2021 auction?

The auction attracted more than 28,700 bidders from over 70 countries.

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

Approximately 92% of the equipment in the Edmonton auction was sold to Canadian buyers.

What type of equipment showed particularly strong pricing in the auction?

Strong pricing was noted for earthmoving equipment, including skid steers, loaders, excavators, and dozers.