More than $101 million of equipment sold in Ritchie Bros. October Edmonton auction
12,700-plus registered to bid on more than 8,800 items; 68 percent of items sold online
Just seven weeks after selling more than 10,700 items, Ritchie Bros.' Edmonton team was back this week with another five-day auction, selling more than 8,800 items for 1,100-plus owners and achieving greater than CA$101 million (US$76 million) in gross transactional value.
More than 12,700 people from 51 countries registered to bid in the October 28 - November 1, 2019 event, including 10,900+ online bidders. Approximately 91 percent of the equipment in the auction was sold to Canadian buyers, with buyers from Alberta purchasing 56 percent, while international buyers from countries such as Egypt, the Netherlands, and Peru purchased nine percent of the equipment. Online bidders purchased 68 percent of the equipment.
"We witnessed strong participation from outside of Western Canada on core construction and transportation assets as Alberta companies continue to right size their fleets for current market conditions," said Brian Glenn, SVP, Head of Canadian Sales, Ritchie Bros. "We also sold more than $7 million in commercial, residential, and agricultural real estate in this auction, including a 137± acre property in Olds, AB with a home and shop for $1.3 million and a 79± acre hobby farm located near Elk Island Park for $900,000."
Mr. Glenn continued, "We would like to thank all our consignors for trusting Ritchie Bros. to deliver solid results for their assets—whether it be equipment or real estate—by delivering world class marketing and a truly global buying audience."
One of the big sellers in the auction was Battle Team Holdings, selling a selection of dozers, excavators, and more.
"We've been working Ritchie Bros. for years—I have a ton of respect for them and the job they do to ensure our equipment gets the highest prices available on auction day," said Wayne Battle, President, of Battle Team Holdings. "We are happy with the results achieved on our equipment last week and look forward to continuing our longstanding relationship with the Ritchie Bros. team, whether we are buying or selling."
Sales highlights included:
- Two 2018 John Deere 950K LGP dozers that sold for a combined CA$740,000
- A 2018 John Deere 870G LC hydraulic excavator that sold for CA$700,000
- A 2019 Tigercat X870D feller buncher that sold for CA$530,000
- A 2005 Madill 2850C log loader that sold for CA$325,000
- A 2012 Caterpillar 160M2 AWD VHP motor grader that sold for CA$305,000
- A 2015 Peterbilt 367 tri-drive hydro vac truck that sold for CA$255,000
- An unused 2015 Kenworth C500 T/A T/A bed truck cab & chassis that sold for CA$250,000
AUCTION QUICK FACTS: EDMONTON, AB (October 2019)
- Total gross transactional value - CA$101+ million (US$77+ million)
- Amount sold to online bidders - CA$68+ million (US$52+ million)
- Total registered bidders (in person and online) - 12,700+
- Registered online bidders - 10,900+
- Total lots sold - 8,800+
- Number of sellers - 1,100+