Ritchie Bros. sells US$41+ million of equipment in its largest-ever Chehalis, WA auction

Rhea-AI Summary

On December 21, 2021, Ritchie Bros. conducted its largest-ever auction in Chehalis, WA, attracting 9,950 bidders from 58 countries and generating over $41 million in gross transaction value. The auction featured more than 2,600 items sold, with 95% acquired by U.S. buyers, including a significant portion from Washington State. The event marked a 27% increase in participation year-over-year. Ritchie Bros. reported strong pricing across transportation and excavation equipment, indicating a robust seller's market. The next Chehalis auction is scheduled for March 2022.

Positive

• Achieved a record gross transaction value of over $41 million.
• Attracted 9,950 bidders, a 27% increase year over year.
• Sold over 2,600 equipment items with 95% purchased by U.S. buyers.
• Strong market for transportation and excavation equipment, indicating healthy demand.

Negative

• None.

December 21 online auction attracted 9,950 bidders from 58 countries to compete for 2,600+ items

CHEHALIS, Wash., Dec. 23, 2021 /PRNewswire/ - Ritchie Bros. has just completed its largest-ever auction in Chehalis, WA, selling 2,600+ equipment items and trucks for 500+ owners and generating US$41+ million in gross transaction value.

The December 21, 2021 online auction attracted 9,950 bidders from 58 countries, which is a 27% increase year over year and a new record for the Chehalis site. Approximately 95% of the assets in the auction were purchased by U.S. buyers, including 33% sold to buyers from Washington State. The remaining 5% was sold to international buyers from as far away as France, Honduras, and Vietnam. Leading up to the auction, Ritchie Bros. saw a 44% increase in online equipment views, while pageviews were up 18% year over year.   

"We've had a fantastic year in the Pacific Northwest with strong pricing across all our marketplaces and have capped it off with our largest Chehalis auction ever," said Griffin Squires, Regional Sales Manager, Ritchie Bros. "Transportation and excavation equipment continues to bring record prices. We also saw strong returns for a fantastic forestry package we signed up early. It's a seller's market right now, so I encourage anyone with surplus equipment to contact us today."

Equipment in the December online Chehalis auction was sold from four locations, including satellite yards in Spokane, WA; and Wasilla, AK; and an owner's property in Billings. MT. Highlights included 140+ truck tractors, 75+ excavators, 40+ loaders, 35 dozers, and more—all items were sold without minimum bids or reserve prices. 

"We would like to thank all the customers who participated in our auctions and marketplaces in 2021," added Mr. Squires. "For any last-minute end-of-year purchases, I encourage you to check out our Marketplace-E and Ritchie List platforms today. We will be back with our next Chehalis auction in March 2022!"

5 Big Sellers from the December Chehalis event:

• 2018 Peterson 5710D tracked horizontal grinder – US$795,000
• 2020 Vermeer WC2500TX tracked chipper – US$340,000
• 2011 Caterpillar 988H wheel loader – US$305,000
• 2015 Aspen HHT/RL tri-axle removable gooseneck 75-ton lowboy – US$275,000
• 2019 Caterpillar 330 hydraulic excavator – US$260,000

2021 Pacific Northwest Marketplace-E sales highlights:

• 2015 Caterpillar 390FL excavator – US$435,000 – sold July 2021
• 2006 Potain tower crane – US$375,000 – sold November 2021
• 2016 Volvo L350F wheel loader – US$270,000 – sold November 2021
• 2004 Gomaco Commander III concrete paving equipment – US$315,000 – sold February 2021
• 2016 Ponsse C50 logging processor – US$270,000 – sold June 2021

AUCTION QUICK FACTS: CHEHALIS, WA (DECEMBER 21, 2021)

• Gross Transaction Value (GTV): US$41+ million
• Total Registered Bidders: 9,950
• Total Number of Lots: 2,600+
• Total Number of Consignors: 500+

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. 

View original content:https://www.prnewswire.com/news-releases/ritchie-bros-sells-us41-million-of-equipment-in-its-largest-ever-chehalis-wa-auction-301450306.html

SOURCE Ritchie Bros.