Ritchie Bros. sells CA$70+ million of equipment in Edmonton, AB

Rhea-AI Summary

Ritchie Bros. reported a successful auction held from June 23-25, 2021, in Edmonton, generating over CA$70 million (US$56 million) from the sale of 8,500+ items. The auction attracted nearly 15,000 bidders from 64 countries, with 92% of the equipment sold to Canadian buyers, especially from Alberta. Key sales included a 2018 Caterpillar D6T LGP dozer for CA$472,500. The company continues to see strong demand for well-maintained equipment as the construction season ramps up in Alberta, with additional upcoming auctions planned.

Positive

• Generated over CA$70 million (US$56 million) in gross transaction value.
• Attracted nearly 15,000 bidders from 64 countries, indicating strong market interest.
• 92% of auctioned equipment was sold to Canadian buyers, reflecting solid local demand.
• The auction included high-value items, enhancing company revenue.

Negative

• None.

15,000 online bidders from 64 countries registered for the June 23 – 25, 2021 unreserved auction

EDMONTON, AB, June 28, 2021 /PRNewswire/ - Ritchie Bros. Edmonton team was back at it last week, selling 8,500+ equipment items and trucks for 1,200+ consignors. The three-day online auction attracted close to 15,000 bidders and generated more than CA$70 million (US$56+ million) in gross transaction value.

Approximately 92% of the equipment in the June 23 – 25 auction was sold to buyers in Canada, including 56% 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 Australia, China, and the United Kingdom.

"We continue to see strong demand for low-hour, well-maintained equipment and trucks," said Andrew Lutic, Regional Sales Manger, Ritchie Bros. "It's the beginning of construction season here in Alberta, so we saw a lot of companies bidding aggressively in hopes of buying new assets to upgrade or fill holes in their fleet. For those still looking for equipment, we have a ton of upcoming buying opportunities, including Marketplace-E, weekly online featured events at IronPlanet.com, and big upcoming site auctions in Montreal and Toronto."

Five Big Sellers:

• 2018 Caterpillar D6T LGP dozer – CA$472,500
• 2015 Kenworth C500 T/A T/A 430-inch WB bed truck – CA$375,000
• 2016 Western Star 4900SA 2,000-gallon tri-drive hydro vac truck – CA$335,000
• 2018 Hitachi ZW370-5B wheel loader – CA$327,500
• 2014 John Deere 410E 6x6 articulated dump truck – CA$177,500

AUCTION QUICK FACTS: EDMONTON, AB (JUNE 2021)

• Gross Transaction Value (GTV): CA$70+ million (US$56+ million)
• Total Registered Bidders: 15,000
• Total Number of Lots: 8,500+
• Total Number of Consignors: 1,200+

Ritchie Bros. will sell more than 50,000 equipment items and trucks in its upcoming events, including a Truro, NS auction on June 29; Montreal, QC on July 7; Regina, SK on July 8 – 9; and Toronto, ON on July 13 - 14. 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-ca70-million-of-equipment-in-edmonton-ab-301320766.html

SOURCE Ritchie Bros.

FAQ

What was the gross transaction value for the Ritchie Bros. auction in June 2021?

The gross transaction value was over CA$70 million (US$56 million).

How many bidders participated in the Ritchie Bros. auction held from June 23-25, 2021?

Almost 15,000 bidders registered for the auction.

Which Canadian province had the highest percentage of equipment sales during the June 2021 auction?

Alberta had the highest sales, accounting for 56% of equipment sold.

What types of equipment were sold during the Ritchie Bros. auction in June 2021?

The auction included a variety of heavy equipment items and trucks, totaling over 8,500 lots.

When is the next auction after the June 2021 Ritchie Bros. event?

The next auction is scheduled for June 29, 2021, in Truro, NS.