Ritchie Bros. sells US$50+ million of equipment in July Fort Worth auction

Rhea-AI Summary

Ritchie Bros. held a successful auction in Fort Worth, Texas, on July 20-21, 2021, generating over US$50 million in sales for more than 3,750 items. The online auction attracted over 11,250 registered bidders, with 90% of sales going to U.S. buyers, including 40% to Texans. Notable sales included a 2014 Kobelco CK1100G crawler crane sold for US$365,000. The company plans additional auctions in Houston next month and Fort Worth in September, responding to increased demand for online buying.

Positive

• Generated over US$50 million in sales from 3,750 items sold.
• Attracted more than 11,250 registered bidders, indicating strong market interest.
• 90% of assets were sold to U.S. buyers, demonstrating strong domestic demand.

Negative

• None.

More than 11,250 people from 64 countries registered to bid on 3,750+ items sold

FORT WORTH, Texas, July 26, 2021 /PRNewswire/ - Ritchie Bros.' Texas team held a US$50+ million auction at its site in Fort Worth last week. The two-day online auction held July 20 – 21, attracted more than 11,250 people to bid on 3,750 items, resulting in strong pricing across nearly every asset category.

Approximately 90% of the assets in the auction were sold to U.S. buyers, including 40% to Texans, while the remaining 10% was sold to international buyers from as far away as Egypt, Spain, India, and New Zealand.

"We spoke to a lot of happy consignors after the auction, as we continue to drive record-breaking demand and strong returns," said Chuck Roberson, Regional Sales Manager, Ritchie Bros. "For customers unable to get what they needed in this week's auction we have a ton more upcoming buying opportunities, including two auctions in Houston next month and our next Fort Worth sale in September where we will welcome back customers for auction day."

Mr. Roberson continued, "The pandemic has made online buying more common, but customers have told us they miss the camaraderie and networking of being there in person. Our auctions have always been about more than equipment—it's also an industry event for many of our customers."

Five Big Sellers in Fort Worth:

• 2014 Kobelco CK1100G crawler crane – US$365,000
• 2016 Volvo L250H wheel loader – US$180,000
• 2017 John Deere 9570R 4WD tractor – US$170,000
• 2016 John Deere 460ET 6x6 articulated dump truck – US$167,500
• 2018 Caterpillar 326FL hydraulic excavator – US$150,000

AUCTION QUICK FACTS: FORT WORTH, TX (JULY  2021)

• Gross Transaction Value (GTV): US$50+ million
• Total Registered Bidders: 11,250+
• Total Number of Lots: 3,750+
• Total Number of Consignors: 650+

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-us50-million-of-equipment-in-july-fort-worth-auction-301340834.html

SOURCE Ritchie Bros.

FAQ

What was the total sales amount for the Ritchie Bros. auction in Fort Worth on July 20-21, 2021?

The total sales amount exceeded US$50 million.

How many items were sold at the Ritchie Bros. Fort Worth auction?

More than 3,750 items were sold at the auction.

What percentage of auction sales were to U.S. buyers during the July 2021 auction?

Approximately 90% of the auction sales were to U.S. buyers.

What were some of the top-selling items at the Fort Worth auction?

Top-selling items included a Kobelco CK1100G crawler crane for US$365,000 and a Volvo L250H wheel loader for US$180,000.

When is the next Ritchie Bros. auction scheduled after the July 2021 Fort Worth auction?

The next auctions are scheduled in Houston next month and back in Fort Worth in September.