April 2016, Vol. 71 No. 4
Business
Ritchie Bros. Auction Draws More Than $172 Million
Ritchie Bros. – the largest global seller of used equipment for construction, transportation, agriculture, material handling, energy, mining, forestry, marine and various other applications – sold a record-setting amount of more than 10,700 items totaling more than $172 million in five days at the company’s 200-acre site during 2016’s largest unreserved equipment auction in mid-February.
Ritchie Bros. auction in Orlando attracted record crowds of more than 9,850 bidders from 79 countries. Out-of-state buyers represented more than $137 million of total equipment sales, including more than $40 million purchased by out-of-country buyers.
“Due to the diverse buying audience we attract, from different sectors and geographies, we achieved consistent and solid pricing all week through most asset classes, with particularly strong results for low-hour, late-model, well-maintained equipment,” said Ravi Saligram, CEO of Ritchie Bros.
Auction bidders participated in person, by proxy and online via rbauction.com, in real time. Online buyers purchased 38 percent of the total equipment sales, and all items were sold without minimum bids or reserve prices.
“People travel across the globe to attend this auction, and thousands more participate online from as far away as Belgium, Costa Rica, Colombia, Vietnam and more,” said Terry Dolan, U.S. and Latin America president for Ritchie Bros.
Ritchie Bros. auction featured sales of trucks and equipment from top manufacturers including Caterpillar, Freightliner, Grove, International, JLF, John Deere, Kenworth, Komatsu, Peterbilt, Terex, Volvo and more – including more than 120 cranes; 150 dozers; 200 compactors; 240 loaders; 390 trailers; 450 excavators; 500 truck tractors; and more than 660 boom and scissor lifts.
778-331-5432, www.rbauction.com.
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