Ritchie Bros.' Recent Edmonton Auction Sells $US52 Million in Equipment

March 3, 2019 -Ritchie Bros.’ first Edmonton, Alberta, auction of the year, held last week, sold more than 5,000 equipment items and trucks over three days for CA$69+ million (US$52+ million). 

That’s 15% more than the same auction sold last year. The gain came even though this year’s event was held amid extremely cold weather. 

More than 10,150 bidders from 54 countries registered to participate in the February 26 – 28, 2019 Edmonton auction—up approximately 19% from the same auction last year. 

 

Approximately 89% of the equipment in the auction was sold to Canadian buyers, with buyers from Alberta purchasing 52%. International buyers from countries such as Australia, Singapore, and the Netherlands purchased 11% of the equipment. About 69% of the equipment in the auction was sold to online buyers. 

 

"Despite extreme cold temperatures, we were still able to attract a huge number of bidders—many participating online—and achieve great returns for our sellers," said Trent Vandenberghe, regional sales manager, Ritchie Bros. "Solid pricing on transportation and construction assets led to year over year growth for this week's auction. With many Alberta contractors looking to right size their fleets with the changing outlook across sectors, our various disposition solutions and ability to attract global participation continue to drive great value for customers."  

 

More than 600 owners sold equipment in the Edmonton auction. 

 

Ritchie Bros. currently has more than 55,000 equipment items, trucks, and other assets listed for sale through its auctions and marketplaces.