Ritchie Bros. sells CA$204+ million of equipment in massive six-day Edmonton, AB auction

Rhea-AI Summary

Ritchie Bros held its largest Canadian equipment auction in Edmonton from May 2-7, 2022, selling over 11,000 items and generating more than CA$204 million (US$158 million) in gross transaction value. The event attracted 23,800 bidders from 55 countries, with 91% of the sales made to Canadian buyers. Notable sales included a 2017 Caterpillar motor grader sold for CA$1,020,000. The auction showcased strong demand for late-model construction equipment and was marked by significant participation from both local and international bidders.

Positive

• Generated over CA$204 million (US$158 million) in gross transaction value.
• Attracted 23,800 bidders from 55 countries, demonstrating strong market interest.
• 91% of items sold to Canadian buyers, reflecting robust local demand.

Negative

• None.

23,800+ bidders from 55 countries registered for Canada's largest equipment auction of the year

EDMONTON, AB, May 9, 2022 /PRNewswire/ - Last week Ritchie Bros. conducted its largest Canadian equipment auction of the year, selling 11,000+ equipment items and trucks for 1,600+ consignors in Edmonton, AB, and generating 204+ million (US$158M+) in gross transaction value.

"There was a lot of excitement in the market for our spring Edmonton auction, with many customers quick to comment on the incredible lineup of equipment we put together this year," said Ryan Eacrett, Vice President, Ritchie Bros. "Late-model construction equipment was especially in demand last week in Edmonton, bringing incredible results for consignors, while transportation assets continued their long run of great pricing. We saw strong participation from bidders around the world, but Canadian buyers were very aggressive, buying up most of the assets."

The May 2 – 7, 2022 online auction attracted more than 23,800 bidders from 55 countries, with approximately 91% of the equipment sold to Canadians, including 56% sold to Albertans. The remaining nine percent of the assets were purchased by international buyers from as far away as Belgium, India, Australia, and Peru.

Equipment highlights in the six-day auction included 300+ truck tractors, 190+ excavators, 130+ skid steers, 130+ dozers, 100+ forklifts, 60+ aerial work forms, 50+ agricultural tractors, and more. Approximately 70 items were sold for Alberta company Green Pastures Holdings Ltd.

"We've been buying and selling with Ritchie Bros. since we started our company 17 years ago," said Kevin Kossman, who owns and operates Green Pastures with his wife, Liela. "They are always professional and organized, their financing is great, and our sales rep is always quick to respond. As far as I'm concerned, Ritchie Bros. is the only way to sell equipment."

Top 10 in Edmonton – Highlighting the Auction's Hottest Items

• 2017 Caterpillar 627K motor grader – CA$1,020,000 (US$794,070)
• 2008 Caterpillar D10T crawler tractor – CA$875,000 (US$681,188)
• 2018 Caterpillar 745 articulated dump truck – CA$705,000 (US$548,843)
• 2021 Hitachi ZX470LC-6 VG hydraulic excavator – CA$560,000 (US$435,960)
• 2018 John Deere 844K-III wheel loader – CA$525,000 (US$408,713)
• 2015 Kenworth C500 National NBT45TM 45-ton straight boom truck – CA$440,000 (US$342,540)
• 2014 Foremost on a 2014 Kenworth T800 8x6 vacuum truck – CA$390,000 (US$303,615)
• 2017 Caterpillar 160M VHP Plus AWD motor grader – CA$385,000 (US$299,723)
• 2021 Kenworth T800 8x6 sleeper winch tractor – CA$382,500 (US$297,776)
• 2021 Kenworth T800 8x6 truck tractor – CA$340,000 (US$264,690)

"We want to thank the hundreds of sellers and thousands of bidders who helped us put together another successful spring sale in Edmonton—thanks for continuing to put your trust in Ritchie Bros.," said Andrew Lutic, Regional Sales Manager, Ritchie Bros. "With this auction we also stored, showcased, and promoted several late-model dozers and excavators selling through our online Marketplace-E channel. During the Edmonton auction last week, we sold two of the Cat D8Ts in our yard on Marketplace-E for CA$555,000 each, showcasing how our various solutions can work together in tandem."

Ritchie Bros. has dozens of upcoming auctions and online events on its auction calendar, including a huge, three-day auction (May 11 – 13) in Toronto, ON with 4,100 equipment items and trucks; a two-day (May 11 – 12) Manitoba auction with 2,100+ items from Borland Construction; and a three-day (May 18 – 20) Montreal, QC auction with 2,800+ items. The company also sells items weekly through IronPlanet.com, GovPlanet.com, and Marketplace-E.  

AUCTION QUICK FACTS: EDMONTON, AB (May 2022)

• Gross transaction value: 204+ million (US$158M+)
• Items: 11,000+
• Bidders: 23,800+ bidders from 55 countries
• Sellers: 1,600+

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 gross transaction value of the Ritchie Bros auction in Edmonton in May 2022?

The gross transaction value was over CA$204 million (US$158 million).

How many bidders participated in the Ritchie Bros auction in Edmonton?

There were over 23,800 bidders from 55 countries.

What percentage of equipment sold at the Edmonton auction was purchased by Canadians?

Approximately 91% of the equipment sold was purchased by Canadians.

What types of items were sold at the Ritchie Bros auction in May 2022?

The auction featured over 11,000 equipment items including trucks, excavators, and dozers.

When did the Ritchie Bros auction in Edmonton take place?

The auction took place from May 2 to May 7, 2022.