Strong truck sales continue in US$68+ million auction in Fort Worth, TX

Rhea-AI Summary

Ritchie Bros conducted a significant auction in Fort Worth, Texas, selling over 5,200 equipment items and trucks for a total of more than US$68 million. The auction, which took place on September 29-30, 2020, saw participation from over 11,300 bidders across 72 countries, with 64% of buyers coming from outside Texas. Highlights included the sale of 650 truck tractors, with robust pricing. Notable sales included a Link-Belt crawler crane for US$340,000 and a Caterpillar dozer for US$250,000. Ritchie Bros is set for another auction in Houston on November 10-11, 2020.

Positive

• Total gross transactional value of US$68+ million reflects strong demand.
• Record attendance with over 11,300 bidders, a 64% increase from the previous year.
• Strong sales of trucks, indicating a robust market for construction and transportation equipment.

Negative

• None.

More than 5,200 equipment items and trucks sold for 650+ owners in two-day Texas auction

FORTH WORTH, Texas, Oct. 1, 2020 /PRNewswire/ - Ritchie Bros. put on another big auction in Fort Worth, TX this week, selling more than 5,200 equipment items and trucks over two days for US$68+ million.

More than 11,300 bidders from 72 countries registered for the September 29 – 30 auction, which was conducted entirely online due to COVID-19. Approximately 64 percent of the assets were purchased by out-of-state and international buyers, from as far away as Australia, Egypt, and Germany.

"We continue to see record numbers of bidders in 2020—with this September's attendance up 64 percent from the same auction last year," said Neal Black, Regional Sales Manager, Ritchie Bros. "This week's auction had a great selection of yellow iron, but the trucks proved to be the real star of the show. In just one day we sold more than 650 truck tractors, with pretty strong prices throughout. This included a large consignment of trucks from B.J. Services, one of the largest pure-play pressure pumping companies in North America."

Equipment highlights in the auction also included 400+ transport trailers, 120+ excavators, 95+ flatbed trucks, 75+ skid steer loaders, as well as ag tractors, dozers, and dozens of pickups.

Sales highlights from Fort Worth:

• A 2011 Link-Belt 218HSL 110-ton crawler crane sold for US$340,000
  
  
• A 2004 Caterpillar D7R XR Series II dozer sold for US$250,000
  
  
• A 2015 Caterpillar 745C 6x6 articulated dump truck sold for US$190,000
  
  
• A 2020 Volvo VNL760 sleeper truck tractor sold for US$112,000
  
  
• A 2017 Peterbilt 389 sleeper truck tractor sold for US$110,000

AUCTION QUICK FACTS: FORT WORTH, TX (September 2020)

• Total gross transactional value – US$68+ million
  
  
• Total registered bidders – 11,300+
  
  
• Total lots sold – 5,200+
  
  
• Number of consignors – 650+

Ritchie Bros.' next Texas auction will be held in Houston on November 10 – 11, 2020. The next Fort Worth auction will be held in December. For more information about Ritchie Bros., visit RitchieBros.com. To learn more about equipment pricing and trends, sign up for Ritchie Bros. Market Trends summary reports at ritchiebros.com/market-trends-report.  

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE: RBA) 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. 

View original content:http://www.prnewswire.com/news-releases/strong-truck-sales-continue-in-us68-million-auction-in-fort-worth-tx-301143646.html

SOURCE Ritchie Bros.

FAQ

What were the total sales at Ritchie Bros' Fort Worth auction in 2020?

The total sales at Ritchie Bros' Fort Worth auction in 2020 exceeded US$68 million.

How many bidders participated in the September 2020 Fort Worth auction?

Over 11,300 bidders participated in the September 2020 Fort Worth auction.

What type of equipment was highlighted in the September 2020 auction?

The September 2020 auction highlighted a variety of equipment, including truck tractors, excavators, and transport trailers.

When is the next auction scheduled after the Fort Worth auction?

The next auction after the Fort Worth auction is scheduled in Houston on November 10-11, 2020.

What percentage of buyers were from outside Texas during the auction?

Approximately 64% of the buyers at the auction were from out of state or international locations.