Ritchie Bros. Edmonton auction sells $94 million in equipment
With its big October auction in Edmonton last week, Ritchie Bros. sold more than 6,800 equipment items and trucks for CA$94+ million (US$73+ million). The four-day event held October 24 - 27, 2017, attracted more than 9,850 bidders from 47 countries, including 7,300+ online bidders.
Canadian buyers purchased 92 percent of the equipment in the auction, with bidders from Alberta (58%), British Columbia (19%), and Saskatchewan (9%) being the biggest Canadian buyers. International buyers from such countries as the United Kingdom, Hong Kong, and New Zealand purchased eight percent. Approximately 63 percent of the equipment was sold to online buyers.
"We saw very active bidding onsite and online, with strong pricing through most equipment categories," said Trent Vandenberghe, Sales Director, Ritchie Bros. "We achieved strong price increases year over year for oil and gas transportation assets, including picker, bed and fluid hauling trucks. Meanwhile construction sector equipment supply constraints continue to positively impact pricing. We also saw solid pricing for the transportation, forestry, and agricultural equipment in the auction, particularly the late-model equipment available."
The auction featured equipment from 1,000+ owners, including nine Caterpillar crawler tractors sold for Lloydminster, Saskatchewan-based Garfield Diesel Repair Ltd.
"I brought my equipment to Ritchie Bros. because of the wide exposure they provide through their marketing and website," said Jim Holowachuk, owner of Garfield Diesel Repair and Cinco Developments Ltd. "They are able to reach bidders across Canada and around the world—two of my dozers sold to buyers in Saskatchewan and one went to British Columbia. I'm happy with the results; prices were good. I would recommend Ritchie Bros. to anyone—their team is dedicated to providing quality, professional customer service and communication, 24 hours a day."
Equipment highlights in the Edmonton October auction included 80+ excavators, 70+ skid steers, 65+ compactors, 55+ dozers, 40 loaders, 75+ flatbed trucks, 60+ boom trucks, 175 truck tractors, 650+ trailers, and much more.