Ritchie Bros. sells US$54+ million of equipment in August Houston auction

Rhea-AI Summary

Ritchie Bros. conducted a successful online auction in Houston from August 23-25, 2022, attracting over 11,290 bidders globally and selling more than 4,980 items for a total gross transaction value exceeding US$54 million. Key sales included a 2019 Caterpillar excavator sold for US$260,000 and a 2021 Cat wheel loader for US$200,000. Approximately 89% of the equipment was purchased by U.S. buyers, with a significant share from Texas. The company announced more auctions upcoming, including a sale in Fort Worth on September 20-22, featuring oil and gas-related equipment.

Positive

• Gross transaction value exceeded US$54 million.
• Attracted over 11,290 bidders from 53 countries.
• 89% of items sold were purchased by U.S. buyers.

Negative

• None.

Three-day online auction attracted 11,290+ bidders from 50+ countries to compete for 4,980+ items

HOUSTON, Aug. 29, 2022 /PRNewswire/ - In its fourth Houston auction of the year, Ritchie Bros. sold more than 4,980 equipment items for 675 consignors, generating US$54+ million in gross transaction value.

"Another strong Houston auction with a ton of customers visiting the site ahead of the event to inspect and compare items prior to bidding online," said Chuck Roberson, Regional Sales Manager, Ritchie Bros. "We had a great package of late-model Cat equipment in this auction that attracted a lot of attention and some solid pricing, including a 2019 Caterpillar 349FL hydraulic excavator that sold for US$260,000 and a 2021 Cat 950GC wheel loader that sold for US$200,000."

The three-day online event on August 23 – 25 attracted more than 11,290 bidders from 53 countries. Approximately 89 percent of the equipment in the unreserved auction was sold to U.S. buyers, including 47 percent sold to Texans. The remaining 11 percent of the equipment was sold to international buyers from as far away as Germany, Australia, and Singapore.

Mr. Roberson added, "For customers who were unable to procure items in Houston, we have more than 70,000+ items selling in our upcoming auctions and online marketplaces, including a Fort Worth sale on September 20 to 22 that will feature a great selection of oil & gas-related equipment, with a dedicated RB Energy Day during the event. We also have items selling every day on Marketplace-E and weekly through IronPlanet. I encourage you to visit RitchieBros.com and start searching today!"

Five Big Sellers from Houston:

• 2000 Grove GMK6200 200-ton all-terrain crane – US$340,000
• 2018 Cat 140M3 motor grader – US$295,000
• 2018 Caterpillar D6T XW dozer – US$240,000
• 2020 Vermeer D23X30III directional drill – US$225,000
• 2016 Volvo EC160EL hydraulic excavator – US$212,500

AUCTION QUICK FACTS: HOUSTON, TX (AUGUST 2022)

• Gross Transaction Value: US$54+ million
• Items Sold: 4,980+
• Bidders: 11,290+
• Consignors: 675

About Ritchie Bros.

Established in 1958, Ritchie Bros. (NYSE: RBA) (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 at the August 2022 auction by Ritchie Bros.?

The gross transaction value exceeded US$54 million.

How many items were sold at Ritchie Bros.' August 2022 auction?

More than 4,980 items were sold.

What dates did the Ritchie Bros. auction in Houston take place?

The auction took place from August 23 to 25, 2022.

What percentage of items sold in the auction were bought by U.S. buyers?

Approximately 89% of the items sold were purchased by U.S. buyers.

When is the next auction for Ritchie Bros. after the August 2022 auction?

The next auction will be in Fort Worth from September 20 to 22, 2022.