Ritchie Bros. Auctioneers conducts CA$52 million unreserved public auction in Edmonton last week
Company’s first three Edmonton auctions of 2011 generate a total of
CA$174 million (US$181 million) in proceeds
EDMONTON, June 20, 2011 /PRNewswire/ – Ritchie Bros. Auctioneers (NYSE and TSX:
RBA), the world’s largest industrial auctioneer, conducted a CA$52
million (US$53 million) two-day unreserved public equipment auction at
the Company’s permanent site in Edmonton last week (June 15 & 16).The
auction attracted a strong contingency of local and international
participation with more than 4,700 on-site and online bidders from 35
countries competing for the more than 4,600 equipment items and trucks
sold.
Over CA$33 million (US$34 million) or 65 percent of equipment sold in
the auction was purchased by buyers from Alberta. Over 2,000 people
participating in the auction registered to bid online, purchasing more
than CA$18 million (US$18 million) or 35 percent of the equipment sold.
Some of the equipment featured in the auction was purchased by buyers
from as far away as the United Arab Emirates, Australia, Chile, Mexico,
Saudi Arabia, Thailand and Turkey.
Last week’s Edmonton auction is also the third auction to be conducted
at the site in 14 weeks and follows the Company’s second largest
Canadian auction ever in terms of gross auction proceeds held at the
site in April. That Edmonton auction set new Canadian records for most
equipment sold online, online bidder participation and number of
buyers. Gross auction proceeds generated from the last three Edmonton
sales combined have totalled approximately CA$174 million (US$181
million).
“Building on the momentum of our April sale, we had many consignors
wanting to participate in this latest auction. People are beginning to
recognize the appreciation in equipment pricing again and this is
giving them the confidence to liquidate their assets,” said Jake
Lawson, Regional Manager, Ritchie Bros. Auctioneers.
“Customers also value the strong pricing at our recent auctions and want
to convert some of their equipment into cash to buy new or different
equipment. In addition, we’ve had a late spring here and with jobs
needing to get done and a shortage of quality gear available on the
market, people are willing to pay good prices on the equipment they
need, as reflected by the strong results we’ve seen at the last three
auctions we’ve had in Edmonton.”
The June 15 -16 Edmonton auction included a complete dispersal of 50
items for Edmonton-based Robertson Construction’s Crushing Division
owned by Bruce Robertson. Among the items included in the complete
dispersal were two late model Caterpillar 988H wheel loaders,
conveyors, screen plants, cone and jaw crushers, feeders and late model
pick up trucks.
“As a long-time customer, Ritchie Bros. auctions have always been the
best sales channel for me to disperse of equipment I’m no longer
using,” said Mr. Robertson. “They have the expertise and ability to
advertise and market equipment to the world and attract the right
buyers to their auctions, whether in person or online. It seemed there
were more people than usual bidding online at last week’s Edmonton
auction; one of my wheel loaders was actually purchased by an online
buyer from Tennessee. Overall, I earned a good dollar on the equipment
I sold. ”
Ritchie Bros. also conducted several other unreserved auctions last week
in Los Angeles (Perris), CA; Minneapolis (Medford), MN; and a US$31
million unreserved public auction in Olympia, WA.
There are currently over 65 upcoming public unreserved auctions on the
Ritchie Bros. auction calendar available at www.rbauction.com. Owners interested in selling their equipment at the next Edmonton
auction, scheduled for September 2011, can contact the auction site at
+1.780.955.2486.
About Ritchie Bros.
Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is
the world’s largest industrial auctioneer, selling more equipment to
on-site and online bidders than any other company in the world. Ritchie
Bros. offers services that enable the world’s builders to easily and
confidently exchange equipment. The Company conducts hundreds of
unreserved public auctions each year, selling a broad range of used and
unused equipment, trucks and other assets utilized in the construction,
transportation, agricultural, material handling, mining, forestry,
petroleum and marine industries. Ritchie Bros. has over 110 locations
in more than 25 countries, including 43 auction sites worldwide. The
Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com
Investors and potential investors should note that this information may
not be indicative of the overall financial performance of the Company
for this or any period.
ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media.
Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.
/NOTE TO PHOTO EDITORS: A photo accompanying this release is available
at http://photos.newswire.ca. Images are free to accredited members of the media/
SOURCE Ritchie Bros. Auctioneers