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Ritchie Bros Auctioneers Inc
Symbol RBA
Shares Issued 107,126,427
Close 2017-09-28 C$ 38.60
Market Cap C$ 4,135,080,082
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Ritchie sells over $52M (U.S.) of items at Tex. auction

2017-09-29 07:59 ET - News Release

Mr. Neal Black reports

RITCHIE BROS. SELLS US$52+ MILLION OF EQUIPMENT AND TRUCKS IN FORT WORTH, TX

Ritchie Bros. Auctioneers Inc. held a two-day auction at its site in Fort Worth, Tex., this week, selling over 3,800 equipment items and trucks for over $52-million (U.S.).

More than 4,900 people from 55 countries registered to bid in the unreserved public auction on Sept. 27 to Sept. 28, including over 3,450 registering to bid on-line. U.S. buyers purchased 90 per cent of the equipment, including 47 per cent purchased by Texas buyers, while international buyers from as far away as Singapore, Saudi Arabia and Germany purchased 10 per cent of the equipment.

"With a full auditorium and strong participation on-line, we achieved solid equipment and truck pricing on both days of the auction," said Neal Black, regional sales manager, Ritchie Bros. "Along with large numbers of local and national buyers, we saw a lot of bids from international registrants in this auction, particularly bidders from Mexico, who were buyers or runner-up bidders on many items. We would like to thank all our consignors, bidders and buyers -- we look forward to seeing you at our next auction."

Ritchie Bros. sold equipment for over 645 owners in the Fort Worth auction. Highlights included over 285 truck tractors, over 295 trailers, over 135 excavators, over 115 skid steers, 90 loaders, over 70 compactors, over 45 dozers, 75 flatbed trucks, 55 dump trucks, over 85 aerial work platforms, over 20 cranes and more. All items were sold without minimum bids or reserve prices.

Specific equipment sales highlights

  • Two 2007 Caterpillar D6N LGP crawler tack tractors sold for a combined $515,000 (U.S.);
  • Two Terex RT555-2 55-ton rough terrain cranes sold for a combined $460,000 (U.S.);
  • A 2007 Terex Demag AC200 240-ton 10x8x8 all-terrain crane sold for $450,000 (U.S.);
  • A 2014 Volvo A40F articulated dump truck sold for $205,000 (U.S.);
  • A 2014 Case CX470C LC hydraulic excavator sold for $195,000 (U.S.);
  • A 2012 Caterpillar 140M2 VHP Plus motor grader sold for $150,000 (U.S.).

Auction quick facts: Fort Worth, Tex. -- Sept. 27 to Sept. 28, 2017

  • Total gross auction proceeds -- over $52-million (U.S.);
  • Amount sold to on-line bidders -- over $30-million (U.S.) (58 per cent);
  • Total registered bidders (in person and on-line) -- over 4,900;
  • Registered on-line bidders -- over 3,450;
  • Total lots sold -- over 3,800;
  • Number of sellers -- over 645.

Ritchie Bros. currently has more than 40,000 equipment items, trucks and other assets listed for sale in its upcoming on-site unreserved auctions, IronPlanet weekly on-line auctions and its other marketplaces. For those looking to sell, the company is now accepting consignments for its next Texas auction in Houston on Nov. 8 to Nov. 9, and is always accepting consignments for its IronPlanet on-line marketplaces.

About Ritchie Bros. Auctioneers Inc.

Established in 1958, Ritchie Bros. is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets.

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