Ritchie Bros. Holds Largest-Ever Two-Day Auction

July 2, 2019 - Ritchie Bros. sold more than 5,000 items for $93+ million over their two day auction, held June 27 – 28 in Columbus. The big highlight of the event: 138 pipelayers sold for $45+ million in two hours.

The auction attracted 5,000+ bidders from 56 countries, including 4,000+ online bidders. U.S. buyers purchased approximately 80% of the equipment in the auction, while international buyers from as far away as Australia, Taiwan, and Cameroon purchased 20%. Online buyers purchased 48% of the equipment.

Sales highlights in the two-day Columbus auction included 30 Caterpillar PL83 pipelayers that sold for a combined $18.5+ million and 12 Caterpillar PL87 pipelayers that sold for a combined $9 million—both models have never been sold at auction before—and 17 Caterpillar D8T dozers that sold for a combined $4.9+ million. All items in the auction were sold without minimum bids or reserve prices.

Approximately 1,800 of the items in the auction were sold as part of a complete dispersal for Welded Construction LP, an Ohio-based company that recently closed after more than 50 years in business. Ritchie Bros. sold the Welded Construction equipment package in partnership with Gordon Brothers, a global advisory, restructuring, and investment firm.

AUCTION QUICK FACTS: COLUMBUS (June 2019)

Total gross transactional value – $93+ million *Ritchie Bros.' largest two-day auction ever
Amount sold to online bidders – $45+ million *new Columbus site record
Total registered bidders (in person and online) – 5,000+ *new Columbus site record
Registered online bidders – 4,000+ *new Columbus site record
Total lots sold – 5,000+ *new Columbus site record
Number of sellers – 370+ *new Columbus site record

For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com.