Edmonton auction sells more than $72 million in equipment
Ritchie Bros. conducted its third Edmonton auction of the year this week, selling 5,500+ equipment items and trucks for CA$72+ million (US$54+ million) over two days (June 13 - 14, 2017).
More than 7,250 people from 50 countries registered to bid in the auction, including 5,350+ people who registered to bid online. Approximately 66 percent of the equipment (CA$47+ million or US$35+ million) was sold to online bidders. Canadian buyers purchased 89 percent of the equipment, with bidders from Alberta (59%), British Columbia (13%), and Saskatchewan (8%) being the biggest Canadian buyers. International buyers from such countries as Belgium, New Zealand, and the United Arab Emirates purchased 11 percent.
"We are beginning to see slight signs of improvement in the Alberta market as contractors get back to work," said Ryan Eacrett, Regional Sales Manager, Ritchie Bros. "Typically our June sales are a little smaller in size as spring and summer work picks up, but this week we saw strong participation from around the globe online and from local bidders onsite resulting in solid pricing, particularly for construction assets. This week we also sold some great lakefront real estate in Buffalo Lake, AB that achieved strong pricing—it's usually a good sign for the economy when people are willing to spend money on recreational property."
Equipment in the auction was sold for 950+ owners. The selection included 200+ compactors, 80+ excavators, 50+ dozers, 50+ skid steers, 55+ dump trucks, 45+ loaders, 20+ cranes, 25+ agricultural tractors, 185+ truck tractors, 580+ trailers and much more. All items were sold without minimum bids or reserve prices.