Ritchie Bros. set to sell 35,000+ items in its biggest auction week ever

Rhea-AI Summary

Ritchie Bros. is set to conduct its largest auction week ever from June 22-26, featuring over 35,000 equipment items across 29 auctions in five countries, including the U.S., Canada, France, Germany, and Australia. Key highlights include auctions in Houston and Edmonton, featuring items like a 2015 Tadano crane and 2018 Caterpillar dozers. The auctions are entirely online, catering to increased demand for liquidity during the pandemic. Additionally, there will be special regional auctions and timed auctions in multiple locations.

Positive

• Record auction week with over 35,000 items sold, indicating strong demand.
• Ability to attract numerous bidders despite economic uncertainty.
• Diverse auction locations enhance access for bidders globally.
• Online-only auctions cater to current buyer needs and preferences.

Negative

• None.

29 auctions across the United States, Canada, France, Germany, and Australia this week

VANCOUVER, B.C, June 22, 2020 /PRNewswire/ - This week, Ritchie Bros. will have its biggest week ever, selling 35,000+ equipment items in 29 auctions across the United States, Canada, France, Germany, and Australia. In just five days (June 22 – 26) the company will sell 3,800+ truck tractors, 900+ excavators, 600+ wheel loaders, 350+ dozers, and so much more across its three main selling solutions: Ritchie Bros. Auctioneers, IronPlanet, and Marketplace-E.

"Our ability to drive demand and attract record numbers of bidders during this time of great uncertainty is proving very valuable to many of our customers who need liquidity right now," said Ann Fandozzi, Chief Executive Officer, Ritchie Bros. "As a result, buyers have access to an outstanding selection of late-model, low-hour equipment. We encourage interested bidders to get online, do their research, and get ready to add a new piece to their fleet this week."

Ms. Fandozzi continued, "Due to COVID-19 all our auctions continue to be online-only events. For those who have never bid online before, it's easy. If you do need help, we have a customer service line to get you registered and walk you through the process."

Two of the premier auctions of the week will be held in Houston, TX on June 23 – 24 and Edmonton, AB on June 24 – 26. Close to 15,000 items will sell in these two auctions alone. A few specific highlights in these two events include a 2015 Tadano GR-750XL 75-ton 4x4x4 rough terrain crane (Houston); two 2018 Caterpillar D6T LGP dozers (Edmonton); and an unused 2019 Western Star 4700SB custom vac Chinook 10,450-litre hydro vac truck (Edmonton).

Ritchie Bros. will also be conducting a special Northeast Regional Auction (June 23 – 24) this week, selling more than 5,800 equipment items from four different locations—North East, MD; North Franklin, CT; Pittsburgh, PA; and Williamsport, PA—in one auction. The company also has four other site auctions this week, in Columbus, OH (June 25); North Battleford, SK (June 25 – 26); Los Angeles, CA (June 26); and Gonzalez, LA (June 26). All these auctions, including Edmonton and Houston, will be held as online-bidding only events with a live auctioneer.

The company will also hold 20 Timed Auctions this week at its sites in Saint-Aubin-sur-Gaillon, France (June 23 – 24); Meppen, Germany (June 25 – 26); and 18 on-farm locations across Western Canada.

On top of all these events, Ritchie Bros. will also conduct a quarter-end online auction (June 25), featuring a nice selection of mining and aggregate equipment, and a special Australian auction (June 23) event on IronPlanet.com. There are also thousands of items available for sale on the company's Marketplace-E channel.

For more information on all these events, please visit RitchieBros.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, 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 multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition 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. 

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SOURCE Ritchie Bros.

FAQ

What is the significance of Ritchie Bros.' auction week on June 22-26?

Ritchie Bros. is conducting its largest auction week ever, selling over 35,000 items across multiple countries.

How many items are being auctioned by Ritchie Bros. this week?

Ritchie Bros. is auctioning more than 35,000 equipment items.

What types of equipment will be sold in the Ritchie Bros. auctions?

The auctions will feature a wide variety of equipment, including truck tractors, excavators, and dozers.

Where are the Ritchie Bros. auctions taking place?

Auctions are occurring in the U.S., Canada, France, Germany, and Australia.

Is participation in Ritchie Bros. auctions limited to in-person bidding?

No, all auctions are online-only, allowing for remote bidding.