CA$215+ Million of Equipment Sold at Ritchie Bros.' Largest Canadian Auction EverFour-day unreserved auction in Edmonton, AB last week attracted 14,000+ bidders from 55+ countries
EDMONTON, May 4, 2015 - Ritchie Bros. (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold more than CA$215 million (US$177+ million) of heavy equipment and trucks at an unreserved public auction in Edmonton, AB from April 28 – May 1, 2015, making it the largest Canadian auction in Company history. The auction broke multiple other Company records, including global records for online sales (CA$105+ million or US$86+ million), total number of registered bidders (14,000+), number of online bidders (8,150+), total number of buyers (3,200+) and number of online buyers (1,850+), as well as a new Canadian record for number of lots sold (7,700+). Bids were made in person at the Edmonton auction site, online in real time at rbauction.com and by proxy.
"This auction was certainly one for the record books," said Randy Wall, President, Canada, Ritchie Bros. "With more than 14,000 registered bidders from more than 55 countries, we surpassed our previous global bidder record by more than 4,550 people! As a result of the high bidder turnout and the strength of the transportation, construction, forestry and other sectors in Alberta, the rest of Canada and abroad, we saw strong pricing at the auction, despite continued market concerns surrounding lower oil prices. In particular we saw great pricing on all general construction, transportation, and aerial equipment, as well as all rental-related equipment."
The Edmonton auction, Ritchie Bros.' first-ever four-day auction in Canada, attracted bidders from 55+ countries, including every Canadian province, two territories and 48 U.S. states. More than CA$192 million (US$158+ million), or 89 percent of the equipment was purchased by Canadian buyers, including 51 percent purchased by buyers from Alberta. The rest of the equipment was sold to buyers from around the world, as far away as the United Arab Emirates, Germany, Egypt, Malaysia, Thailand, Poland and the Netherlands.
Ritchie Bros. sold equipment for 760+ sellers, including a complete dispersal for Earth & Iron Inc. and a fleet realignment for A-1 Rentals.
"I'm very proud of my iron, and I'm proud of what Ritchie Bros. did to market it. Together we sent Earth & Iron equipment to new buyers around the world," said Dean Gray, president of Earth & Iron. "I'm very pleased with the results. There is no other company in the world that can do what Ritchie Bros. does. I watched the sale online and saw bidders participating from all around the world."
"This is the third time we've done a realignment through Ritchie Bros., and we keep coming back because returns have been so strong," said Guy Turnbull, owner and president of A-1 Rentals. "While there is certainly less work for some sectors in Alberta, there's still money here and people are still buying equipment."
The record-setting selection of heavy equipment and trucks included 240+ excavators, 225+ crawler tractors, 200+ compactors, 100 articulated dump trucks, 80+ wheel loaders, 70+ motor graders, 40+ motor scrapers, 50 agricultural tractors, 195 truck tractors and more. Every item was sold to the highest bidder on auction day, with no minimum bids or reserve prices.
"Our continual growth in Edmonton is a result of the strong relationships we have built with thousands of hard-working companies here in Alberta," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. "We would like to thank all the sellers who continue to put their trust in Ritchie Bros.' ability to attract the largest buying audience for their equipment."
AUCTION QUICK FACTS: EDMONTON, AB – APRIL 28 – MAY 1, 2015
The Ritchie Bros. auction calendar currently features more than 80 unreserved public auctions around the world, including the Company's next unreserved public auction in Edmonton, AB, which is scheduled for June 9 - 10, 2015. Visit rbauction.com for a complete list of upcoming auctions.
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. ™ solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOne™ secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauction.com/financing). Ritchie Bros. has operations in 19 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.
Photos for media are available at rbauction.com/media.
SOURCE Ritchie Bros. Auctioneers
Image with caption: "CA$215+ million of equipment sold at Ritchie Bros.’ largest Canadian auction ever (April 28 - May 1, 2015). (CNW Group/Ritchie Bros. Auctioneers)". Image available at: http://photos.newswire.ca/images/download/20150504_C7678_PHOTO_EN_16123.jpg
