Last week Ritchie Bros. conducted its largest Canadian auction of the year, selling CA$207+ million (US$161+ million) of equipment over five days in Edmonton, AB.
The April 24 - 28 auction attracted more than 14,000+ bidders from 59 countries, including 9,750+ online bidders. Approximately 89 percent of the equipment in the auction was sold to Canadian buyers, with buyers from Alberta purchasing 55 percent, while international buyers from countries such as the United States, China, and the United Arab Emirates purchased 11 percent of the equipment. Approximately 58 percent of the equipment in the auction was sold to online buyers.
"Our auction in Edmonton last week featured some of the cleanest, low-hour equipment available on the market today, attracting a huge number of global buyers," said Brian Glenn, Senior Vice President, Ritchie Bros. "We once again saw strong participation from Western Canadian registrants, bidding aggressively as they're looking to purchase equipment for the spring construction season, resulting in strong pricing across most equipment categories."
Brian Glenn continued, "Last week's auction featured equipment from close to 1,300 consignors—which is a new company record for a single auction. This included complete dispersal packages from great Western Canadian companies like NEC Construction and HiTrac Equipment and two big oilfield transportation packages of late-model rig moving equipment from H&E Oilfield Services and Cierra Trucking that attracted higher than average U.S. participation. We would like to thank the many sellers who once again put their trust in Ritchie Bros. to market their equipment to the world, and the thousands of bidders for helping us deliver a safe and successful sale."
"Ritchie Bros. in the best place in the world to buy and sell equipment," said Albert Benson, President of NEC Construction Ltd. "The Ritchie Bros. team is a such a great group of people to work with—so down-to-earth—and their auction process is very honest and transparent. Their marketing is great and they get the best prices. The results on our equipment last week were amazing."
"I've been selling with Ritchie Bros. since 2010 because they get me better returns than trading in or any other way of selling," said Jed Fryer, owner of J.F. Logging Ltd., based in Prince George, B.C. "Ritchie Bros. provides an amazing selling experience. We sold nine heavy haul trucks in last week's Edmonton auction and the results once again exceeded our expectations."In total, more than 9,450+ equipment items and trucks were sold in last week's Edmonton auction, including 275+ excavators, 270+ truck tractors, 245+ compactors, 145+ dozers, 130+ aerial work platforms, 125+ skid steers, 100+ articulated dump trucks, 90+ boom trucks, 80+ winch tractors, 45+ agricultural tractors, 20+ bed trucks, as well as a large selection of farmland and industrial real estate. As always, all items were sold without minimum bids or reserve prices. Specific highlights included:
- Three 2014 Caterpillar D6T LGP crawler tractors sold for a combined CA$1.29 million
- Two unused 2018 Caterpillar D6T LGP crawler tractors sold for a combined CA$1.19 million
- Two 2006 Caterpillar 627G motor scrapers sold for a combined CA$805,000
- Two 2014 Caterpillar A40G 6x6 articulated dump trucks sold for a combined CA$730,000
- A 2014 Kenworth C500 T/A T/A bed truck sold for CA$410,000
- A 2012 Elrus closed circuit portable cone crushing plant sold for CA$410,000
- A 2014 Caterpillar 14M VHP Plus motor grader sold for CA$360,000
- A 2014 Kenworth C500B T/A tri-drive boom truck sold for $355,000
- A 2011 Caterpillar 980K wheel loader sold for CA$280,000
- A 2015 Kenworth C500 tri-drive sleeper winch tractor sold for CA$250,000
- Gross transactional value - CA$207+ million (US$161+ million)
- Amount sold to online bidders - CA$120+ million (US$93+ million)
- Total registered bidders (onsite and online) - 14,000+
- Online registered bidders - 9,750+
- Number of lots sold - 9,450+
- Number of sellers - 1,290+