Ritchie Bros. Holds First Edmonton Auction

March 22, 2017 - Ritchie Bros. has conducted its first Edmonton auction of the year, selling 5,000+ equipment items and trucks for CA$62+ million (US$46+ million) over three days. 

 

More than 8,650 people from across Canada and 46 other countries registered to bid in the auction, including 5,950+ people who registered to bid online. Approximately 63% of the equipment was sold to online bidders. Canadian buyers purchased 85% of the equipment, with bidders from Alberta (50%), British Columbia (12%), and Saskatchewan (11%) being the biggest Canadian buyers. International buyers from such countries as France, Singapore, and the United Arab Emirates purchased 15%.

 

"We saw strong demand with active bidding from across Canada, the United States and overseas, helping us achieve strong pricing in almost every equipment category in Edmonton last week," said Brian Glenn, senior vice president, Ritchie Bros. "Contractors are utilizing more of their fleets for active construction jobs, and fleet sizes are now better suited for the level of activity in the province. As a result, we sold fewer equipment items in this auction compared to our February Edmonton auction last year, though our April auction continues to grow—and will be an excellent opportunity for customers to both buy and sell assets to best align their fleets for their upcoming spring and summer projects."

 

Equipment in the March auction was sold for 600+ owners. The selection included 50 excavators, 40+ loaders, 40 compactors, 20+ dozers, 15+ cranes, 20+ agricultural tractors, 65 aerial work platforms, 400+ trailers, 120+ truck tractors, and more. All items were sold without minimum bids or reserve prices. 

 

Specific equipment highlights:

·         A 2014 Terex HC165 165-ton crawler crane sold for CA$1.01 million

·         A 2015 Tadano GR1000XL-2 100-ton 4x4x4 rough terrain crane sold for CA$775,000

·         A 2013 Western Star 4900SA T/A tri-drive w/ Manitex 4596 boom truck sold for CA$415,000

·         A 2014 Xtreme XR2045 4x4x4 telescopic forklift sold for CA$175,000