US$54+ million of equipment sold in latest Ritchie Bros. Rocky Mountain event

Rhea-AI Summary

Ritchie Bros. reported strong results from its recent Rocky Mountain auction held on May 26-27, 2021, attracting over 11,600 bidders globally. The auction achieved a Gross Transaction Value (GTV) of over US$54 million, matching a previous record from March 2021. A total of 4,850 equipment items were sold, comprising various heavy machinery including trucks and excavators. Approximately 88% of sales were to U.S. buyers. Future auctions are scheduled in Phoenix, Sacramento, Las Vegas, and Houston, offering more than 50,000 additional items.

Positive

• GTV of US$54+ million matches previous record from March 2021.
• Attracted over 11,600 bidders from 59 countries.
• Sold more than 4,850 items, increasing interest and visibility for sellers.
• 88% of auction items sold to U.S. buyers, indicating strong domestic demand.

Negative

• None.

Strong pricing trend continues in May 26 – 27 auction, attracting 11,600+ bidders from 59 countries

DENVER, Colo., June 1, 2021 /PRNewswire/ - Ritchie Bros.' regional auctions keep rolling, with 800+ companies selling in the May Rocky Mountain event. More than 4,850 equipment items and trucks were sold in the May 26 – 27 auction for US$54+ million, matching the record-breaking US$54 million Rocky Mountain auction held in March 2021.

"Consignors are taking advantage of the strong market pricing Ritchie Bros. is achieving in 2021," said Matt Johnson, Director, US West, Ritchie Bros. "After our massive March Rocky Mountain sale, we saw a wave of consignments. Through two Rocky Mountain events in 2021 we've sold more than 9,000 items for US$108+ million, attracting 1.8 million online pageviews. Our hybrid onsite-online regional auctions provide access to unbelievable selection for buyers, while getting sellers more eyes on their equipment to drive higher price realization."

Equipment for the Rocky Mountain regional auction was stored at Ritchie Bros. locations in Denver, CO; Salt Lake City, UT; and Williston, ND. Highlights included 240+ truck tractors, 95+ excavators, 80+ loaders, 70+ skid steers, 60+ aerial work platforms, and 30+ crawler tractors. All items were sold without minimum bids or reserve prices.

Approximately 88% of the equipment in the auction was sold to U.S. buyers, including 16% sold to buyers in Colorado, 9% to buyers in Utah, and 5% to buyers in North Dakota. The remaining 12% of the equipment was sold to international buyers from as far away as Peru, Egypt, and the Netherlands.

Five Big Sellers:

• 2012 Caterpillar D8T crawler tractor – US$315,000
• 2020 Caterpillar 330 hydraulic excavator – US$287,500
• 2014 Kenworth T800 tri-drive hydro vac truck – US$257,500
• 2018 Caterpillar 938M wheel loader – US$180,000
• 2019 Kenworth T370 S/A mechanics truck – US$160,000

AUCTION QUICK FACTS: ROCKY MOUNTAIN REGIONAL AUCTION (MAY 2021)

• Gross Transaction Value (GTV): US$54+ million
• Total Registered Bidders: 11,600+
• Total Number of Lots: 4,850+
• Total Number of Consignors: 800+

Ritchie Bros. will sell more than 50,000 equipment items and trucks in its upcoming auctions, including a Phoenix, AZ auction on June 4; Timed Auction events in Sacramento (June 9) and Las Vegas (June 11); and a two-day Houston auction on June 15 – 16. The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.

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. 

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SOURCE Ritchie Bros.

FAQ

What was the Gross Transaction Value of the Ritchie Bros. auction on May 26-27, 2021?

The Gross Transaction Value (GTV) was over US$54 million.

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

The auction attracted over 11,600 bidders.

What items were sold in the May 2021 Ritchie Bros. auction?

A total of 4,850 items, including trucks and heavy machinery, were sold.

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

Approximately 88% of the equipment was sold to U.S. buyers.

What future auctions are scheduled by Ritchie Bros.?

Upcoming auctions include events in Phoenix, Sacramento, Las Vegas, and Houston, offering more than 50,000 items.