Ritchie Bros. sells CA$76+ million of equipment in September Edmonton auction

Rhea-AI Summary

Ritchie Bros. held a successful online auction from September 7-9, 2022, selling over 8,300 items for a gross transaction value of CA$76+ million (US$58+ million), representing a 29% increase from the previous year. Attracting more than 14,600 bidders from 46 countries, around 94% of the items were sold to Canadian buyers, including 59% to Albertans. The auction featured significant items such as a Komatsu dozer sold for CA$400,000. Over 1,100 consignors participated, showcasing strong demand and pricing for equipment in the market.

Positive

• Gross transaction value increased by 29% year-over-year, reaching CA$76+ million (US$58+ million).
• The auction attracted over 14,600 bidders from 46 countries, indicating strong market interest.
• Approximately 94% of items sold to Canadian buyers, with 59% to Albertans, demonstrating local market strength.

Negative

• None.

Three-day online event attracted 14,600+ bidders from 46 countries to compete for 8,300+ items

EDMONTON, AB, Sept. 12, 2022 /PRNewswire/ - Ritchie Bros. latest Edmonton, AB auction included 8,300+ equipment items selling for CA$76+ million (US$58+ million) in gross transaction value, which is a 29% increase over the same event last year.

The three-day online event on September 7 – 9, 2022, attracted more than 14,600 bidders from 46 countries. Approximately 94 percent of the equipment in the unreserved auction was sold to Canadian buyers, including 59 percent sold to Albertans. The remaining six percent of the equipment was sold to international buyers from as far away as Colombia, India, and Ireland.

"We had a lot of happy consignors, with equipment and trucks bringing strong demand and pricing through all three days of the auction," said Andrew Lutic, Regional Sales Manager, Ritchie Bros. "Leading up to the event our Edmonton site was busy with buyers inspecting items to add to their fleet for upcoming projects. For those that were unable to get the equipment they need for the winter season, we have a ton of upcoming buying opportunities including our next big Edmonton auction in late October."

More than 1,100 consignors sold equipment in the Edmonton auction, including a major realignment for Ninkovich Gravel Ltd.

"When you work with Ritchie, you get a company that's thoughtful, considerate, and always looking out for your best interests," said Dave Ninkovich of Ninkovich Gravel Ltd. "They provided direction on how to increase the value of my assets at auction and it worked, as we surpassed my original expectations and hit the price I was hoping for."

Five Big Sellers from Edmonton:

• 2017 Komatsu D155AXI-8 dozer – CA$400,000 (US$304,040)
• 2014 Kenworth C500 National NBT45TM 45-ton straight boom truck - CA$357,500 (US$271,736)
• 2015 Caterpillar 740BEJ ejector articulated dump truck – CA$325,000 (US$247,033)
• 2014 Caterpillar 349FL hydraulic excavator – CA$265,000 (US$201,427)
• 2013 Peterbilt 367 2012 vacuum industrial on 8x6 hydro vac truck – CA$260,000 (US$197,626)

AUCTION QUICK FACTS: EDMONTON, AB (SEPTEMBER 2022)

• Gross Transaction Value: CA$76+ million (US$58+ million)
• Items Sold: 8,300+
• Bidders: 14,600+
• Consignors: 1,100+

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 was the gross transaction value of Ritchie Bros' Edmonton auction in September 2022?

The gross transaction value was CA$76+ million (US$58+ million).

How many bidders participated in the September 2022 auction by Ritchie Bros?

Over 14,600 bidders participated in the auction.

When did Ritchie Bros hold its Edmonton auction in September 2022?

The auction took place from September 7-9, 2022.

How many items were sold in Ritchie Bros' September 2022 auction?

Over 8,300 items were sold during the auction.

What percentage of items in the Edmonton auction were sold to Canadian buyers?

Approximately 94% of the items were sold to Canadian buyers.