Ritchie Bros. finishes six-day Edmonton auction with over CA $204 million of equipment sold
Ritchie Bros. has conducted its largest Canadian equipment auction of 2022, selling over 11,000 equipment items and trucks for over 1,600 consignors in Edmonton, Alberta, and generating over 204 million (U.S. $158M) in gross transaction value.
"There was a lot of excitement in the market for our spring Edmonton auction, with many customers quick to comment on the incredible lineup of equipment we put together this year," said Ryan Eacrett, vice president at Ritchie Bros. "Late-model construction equipment was especially in demand last week in Edmonton, bringing incredible results for consignors, while transportation assets continued their long run of great pricing. We saw strong participation from bidders around the world, but Canadian buyers were very aggressive, buying up most of the assets."
The May 2 to 7, 2022 online auction attracted more than 23,800 bidders from 55 countries, with approximately 91 percent of the equipment sold to Canadians, including 56 percent sold to Albertans. The remaining nine percent of the assets were purchased by international buyers from as far away as Belgium, India, Australia, and Peru.
Equipment highlights in the six-day auction included over 300 truck tractors, over 190 excavators, over 130 skid steers, over 130 dozers, over 100 forklifts, over 60 aerial work forms, over 50 agricultural tractors, and more. Approximately 70 items were sold for Alberta company Green Pastures Holdings Ltd.
"We've been buying and selling with Ritchie Bros. since we started our company 17 years ago," said Kevin Kossman, who owns and operates Green Pastures with his wife, Liela. "They are always professional and organized, their financing is great, and our sales rep is always quick to respond. As far as I'm concerned, Ritchie Bros. is the only way to sell equipment."
Highlighting the auction's highest selling items
- 2017 Caterpillar 627K motor grader – C.A. $1,020,000 (U.S.$794,070)
- 2008 Caterpillar D10T crawler tractor – C.A. $875,000 (U.S. $681,188)
- 2018 Caterpillar 745 articulated dump truck – C.A. $705,000 (U.S. $548,843)
- 2021 Hitachi ZX470LC-6 VG hydraulic excavator – C.A. $560,000 (U.S. $435,960)
- 2018 John Deere 844K-III wheel loader – C.A. $525,000 (U.S. $408,713)
- 2015 Kenworth C500 National NBT45TM 45-ton straight boom truck – C.A. $440,000 (U.S. $342,540)
- 2014 Foremost on a 2014 Kenworth T800 8x6 vacuum truck – C.A. $390,000 (U.S. $303,615)
- 2017 Caterpillar 160M VHP Plus AWD motor grader – C.A. $385,000 (U.S. $299,723)
- 2021 Kenworth T800 8x6 sleeper winch tractor – C.A. $382,500 (U.S. $297,776)
- 2021 Kenworth T800 8x6 truck tractor – C.A. $340,000 (U.S. $264,690)
"We want to thank the hundreds of sellers and thousands of bidders who helped us put together another successful spring sale in Edmonton–thanks for continuing to put your trust in Ritchie Bros.," said Andrew Lutic, a regional sales manager at Ritchie Bros. "With this auction we also stored, showcased, and promoted several late-model dozers and excavators selling through our online Marketplace-E channel. During the Edmonton auction last week, we sold two of the Cat D8Ts in our yard on Marketplace-E for CA$555,000 each, showcasing how our various solutions can work together in tandem."
Ritchie Bros. has dozens of upcoming auctions and online events on its auction calendar, including a three-day auction (May 11 to 13) in Toronto, Ontario with 4,100 equipment items and trucks; a two-day (May 11 to 12) Manitoba auction with over 2,100 items from Borland Construction; and a three-day (May 18 to 20) Montreal, Quebec auction with over 2,800 items.