Ritchie Bros. sells US$60+ million of equipment & trucks in May Fort Worth, TX auction

Rhea-AI Summary

Ritchie Bros conducted its second auction in Fort Worth, TX from May 17-19, 2022, attracting over 11,100 bidders and generating more than US$60 million in gross transaction value, representing a 9% year-over-year increase. The auction featured over 4,350 items from 700 consignors, with approximately 93% of purchases made by American buyers. Notable sales included a 2019 Komatsu excavator for US$570,000 and a 2022 K-Tec scraper pan sold for US$205,000, with proceeds donated to Habitat for Humanity. Upcoming auctions include events in June and July in various locations.

Positive

• Gross transaction value of US$60+ million, up 9% year-over-year.
• Over 11,100 bidders from 60+ countries, indicating strong global interest.
• Successful sale of high-value equipment, boosting company revenue.

Negative

• None.

May 17 – 19, 2022 online auction attracted 11,100+ bidders to compete for 4,350+ items

FORT WORTH, Texas, May 23, 2022 /PRNewswire/ - Last week, Ritchie Bros. conducted its second Fort Worth, TX auction of the year, selling US$60+ million of equipment and trucks for 700+ consignors. The three-day online auction saw gross transaction value grow approximately 9% year over year.

More than 11,100+ bidders from 60+ countries registered to participate in the May 17 – 19, 2022 online auction, with approximately 93% of the equipment purchased by Americans, including 38% sold to Texans. The remaining seven percent of the assets were purchased by international buyers from as far away as Brazil, Thailand, and Australia.

"We saw a ton of interested buyers come through our auction yard leading up to the event, inspecting and testing items in person prior to bidding from their home, office, or mobile phone," said Chuck Roberson, Regional Sales Manager, Ritchie Bros. "We continue to drive strong pricing for late-model equipment, including an unused 2022 K-Tec scraper pan that sold for US$205,000, with 100% of the proceeds donated by the OEM to Habitat for Humanity."

Mr. Roberson continued, "Thank you to all our consignors and buyers for continuing to put your trust in Ritchie Bros. We hope to see many of you at our site in July for our next big Fort Worth event. I encourage interested sellers to contact us today so we can begin marketing your assets to the world."

Five Big Sellers in Fort Worth

• 2019 Komatsu PC650LC-11 hydraulic excavator – US$570,000
• 2019 Kenworth T880 Manitex TC50155HL 50-ton straight boom truck – US$410,000
• 2008 Grove GMK 6220L 12x8x10 all-terrain crane – US$400,000
• 2017 Case Steiger 580 4WD tractor – US$212,500
• 2019 Kenworth W900 6x4 twin-axle truck tractor – US$157,500

AUCTION QUICK FACTS: FORT WORTH, TX (MAY 2022)

• Gross transaction value (GTV): US$60+ million
• Items: 4,350+
• Bidders: 11,100+
• Consignors: 700+

Ritchie Bros. has more than 50,000 equipment items and trucks set to be sold in its upcoming auctions and online events, including a May 25 – 26 Rocky Mountain Regional Event with 5,600+ items, a June 3 Phoenix, AZ auction with 2,800+ items, and a Sacramento, CA Timed Auction with 1,500+ items on June 8. The company also sells items weekly through IronPlanet.com, Marketplace-E, Ritchie List, and GovPlanet.com.   

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. 

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SOURCE Ritchie Bros.

FAQ

What was the gross transaction value at the May 2022 auction by Ritchie Bros (RBA)?

The gross transaction value at the May 2022 auction by Ritchie Bros exceeded US$60 million.

How many bidders participated in the May 2022 Ritchie Bros auction?

Over 11,100 bidders participated in the May 2022 auction.

What significant items were sold at the Ritchie Bros auction in May 2022?

Notable sales included a 2019 Komatsu excavator for US$570,000 and a K-Tec scraper pan for US$205,000.

Which location hosted the Ritchie Bros auction in May 2022?

The Ritchie Bros auction in May 2022 was held in Fort Worth, Texas.

What dates did the May 2022 Ritchie Bros auction take place?

The May 2022 auction took place from May 17 to May 19.