Sellers see strong returns in Ritchie Bros. US$55+ million auction in Fort Worth, TX

Rhea-AI Summary

Ritchie Bros. held a successful auction in Fort Worth, TX on May 18-19, 2021, attracting over 13,500 bidders from 66 countries and achieving a gross transaction value of US$55+ million. The auction featured 4,300+ equipment items, with significant participation from U.S. buyers, particularly from Texas. The company reported a 52% increase in equipment views per lot compared to last year and noted a strong demand for equipment across all categories, promising high returns for sellers.

Positive

• Gross transaction value of US$55+ million from the auction.
• Over 13,500 registered bidders, indicating heightened interest and demand.
• 52% increase in equipment views per lot year-over-year.
• 85% of sold equipment went to U.S. buyers, showcasing domestic strength.

Negative

• None.

13,500+ online bidders from 66 countries registered for the May 18 – 19 unreserved auction

FORT WORTH, Texas, May 21, 2021 /PRNewswire/ - Buyer demand and equipment pricing continues to trend upwards at Ritchie Bros. auctions around the globe. Most recently the company sold 4,300+ equipment items and trucks for US$55+ million at its site in Fort Worth, TX. The May 18 – 19, 2021 online auction attracted 13,500+ bidders from 66 countries. 

"We continue to break registration records, resulting in strong pricing across almost every single equipment category," said Chuck Roberson, Regional Sales Manager, Ritchie Bros. "Sellers were very happy with returns, with several consignors planning to sell more through our Houston auction next month, or through one of our IronPlanet or Marketplace-E solutions. We encourage sellers to contact us today to take advantage of unprecedented demand across all our sales channels."

With 100% of the bidding online, the Fort Worth auction attracted 100+ equipment views per lot—up 52% year over year—and 29,000+ PriorityBids. Approximately 85% of the equipment in the Fort Worth auction was sold to U.S. buyers, including 38% purchased by Texans, while the remaining 15% was sold to international buyers from as far away as Australia, Belgium, India, and Thailand.

Five Big Sellers:

• 2011 Grove RT9150E 150-ton 4x4x4 rough terrain crane – US$380,000
• 2016 Caterpillar PM620 crawler cold planer – US$340,000
• 2018 Caterpillar 745 6x6 articulated dump truck – US$290,000
• 2013 Peterbilt 367 Quad/A w/ National NBT45 45-ton boom truck – US$255,000
• 2018 Caterpillar 972M wheel loader – US$210,000

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

• Gross Transaction Value (GTV): US$55+ million
• Total Registered Bidders: 13,500+
• Total Number of Lots: 4,300+
• Total Number of Consignors: 650+

Ritchie Bros. will sell more than 50,000 equipment items and trucks in its upcoming auctions, including a Rocky Mountain Regional Event on May 26 – 27; a Phoenix, AZ auction on June 4; a Timed Auction event in Sacramento, CA on June 9; and a Houston sale on June 15 – 16. For more information, visit rbauction.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 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:http://www.prnewswire.com/news-releases/sellers-see-strong-returns-in-ritchie-bros-us55-million-auction-in-fort-worth-tx-301296625.html

SOURCE Ritchie Bros.

FAQ

What was the gross transaction value of Ritchie Bros.' auction on May 18-19, 2021?

The gross transaction value was over US$55 million.

How many bidders participated in the May 2021 auction held by Ritchie Bros.?

The auction attracted over 13,500 bidders from 66 countries.

What was the total number of equipment items sold in the Fort Worth auction?

Over 4,300 equipment items were sold during the auction.

When is the next auction scheduled after the May 2021 event?

The next auction is a Rocky Mountain Regional Event scheduled for May 26-27, 2021.

What percentage of sold equipment was purchased by U.S. buyers in the May auction?

Approximately 85% of the equipment sold was purchased by U.S. buyers.