Ritchie Bros. sells US$64+ million of equipment and trucks in Houston, TX

Rhea-AI Summary

Ritchie Bros. held its final Houston auction of 2022 from November 8 to 10, attracting over 11,200 bidders from more than 60 countries and selling over 6,000 items for a gross transaction value exceeding US$64 million. Approximately 87% of the equipment was sold to U.S. buyers, with a significant portion going to Texans. Notable sales included a 2017 Mack GU714 concrete pump truck for US$410,000. The company plans further auctions, including a Fort Worth auction from December 13 to 15.

Positive

• Gross transaction value exceeded US$64 million.
• Over 11,200 bidders participated, showing strong demand.
• 87% of items were sold to U.S. buyers, indicating a robust domestic market.

Negative

• None.

Three-day online event attracted 11,200+ bidders from 60+ countries to compete for 6,000+ items

HOUSTON, Nov. 14, 2022 /PRNewswire/ - With its final Houston, TX site auction of the year, Ritchie Bros. attracted more than 11,200 online bidders to compete for 6,000+ items, generating US$64+ million in gross transaction value. 

Approximately 87% of the equipment in the November 8 – 10 auction was sold to U.S. buyers, including 44% purchased by Texans. The remaining 13% was purchased by international buyers from far away as Thailand, Egypt, and Great Britain. Auction highlights included 1,600+ transportation assets, 1,100 construction equipment assets, 1,000+ agricultural assets, 600+ lifting & material handling assets, and more—all assets were sold without minimum bids or reserve prices. 

"We had great weather and a lot of interested bidders inspecting equipment onsite ahead of the sale, resulting in strong competition through all three days of the auction," said Chuck Roberson, Regional Sales Manager, Ritchie Bros. "This was our last Houston auction of the year, but we still have a ton of buying and selling opportunities, including an onsite Fort Worth auction on December 13 – 15, weekly IronPlanet events, our daily Marketplace-E solution, and Ritchie List."

Five Big Sellers from Houston:

• 2017 Mack GU714 concrete pump truck – US$410,000
• 2005 Terex HC275 crawler crane – US$310,000
• 2015 Grove RT 880E 80-ton 4x4x4 rough terrain crane – US$270,000
• 2020 Vermeer D23X30III directional drill – US$250,000
• 2019 Caterpillar 336 hydraulic excavator – US$185,000

AUCTION QUICK FACTS: HOUSTON, TX (NOVEMBER 2022)

• Gross Transaction Value: US$64+ million
• Items Sold: 6,000+
• Bidders: 11,200+
• Consignors: 700+

Ritchie Bros. will sell more than 60,000 equipment items and trucks in its upcoming auctions and online marketplaces, including a Tipton, CA Timed Auction on November 18 with 1,500+ items, a Southeast Regional Event on December 1 with 2,800+ items, and a Great Lakes Regional Event on December 6 with 3,100+ items. For a complete list of upcoming events, visit rbauction.com/auctions.

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 the Ritchie Bros. Houston auction?

The gross transaction value exceeded US$64 million.

How many items were sold at the Ritchie Bros. auction in Houston?

Over 6,000 items were sold.

When was the Ritchie Bros. auction held in Houston?

The auction took place from November 8 to 10, 2022.

How many bidders participated in the Houston auction?

More than 11,200 bidders participated in the auction.

What percentage of auction items were sold to U.S. buyers?

Approximately 87% of the items were sold to U.S. buyers.

What are the upcoming auction dates for Ritchie Bros. after the Houston auction?

A Fort Worth auction is scheduled for December 13 to 15, 2022.