13:05:27 EDT Thu 28 Mar 2024
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Ritchie Bros Auctioneers Inc
Symbol RBA
Shares Issued 107,471,895
Close 2018-04-27 C$ 42.16
Market Cap C$ 4,531,015,093
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Ritchie sells over $207M of items at Edmonton auction

2018-04-30 07:27 ET - News Release

Mr. Brian Glenn reports

RITCHIE BROS. SELLS CA$207+ MILLION OF EQUIPMENT IN ITS LARGEST CANADIAN AUCTION OF 2018

Last week Ritchie Bros. Auctioneers Inc. conducted its largest Canadian auction of the year, selling over $207-million (over $161-million (U.S.)) of equipment over five days in Edmonton, Alta.

The April 24 to April 28 auction attracted more than 14,000 bidders from 59 countries, including over 9,750 on-line bidders. Approximately 89 per cent of the equipment in the auction was sold to Canadian buyers, with buyers from Alberta purchasing 55 per cent, while international buyers from countries such as the United States, China and the United Arab Emirates purchased 11 per cent of the equipment. Approximately 58 per cent of the equipment in the auction was sold to on-line buyers.

"Our auction in Edmonton last week featured some of the cleanest, low-hour equipment available on the market today, attracting a huge number of global buyers," said Brian Glenn, senior vice-president, Ritchie Bros. "We once again saw strong participation from Western Canadian registrants, bidding aggressively as they're looking to purchase equipment for the spring construction season, resulting in strong pricing across most equipment categories."

Mr. Glenn continued: "Last week's auction featured equipment from close to 1,300 consignors -- which is a new company record for a single auction. This included complete dispersal packages from great Western Canadian companies like NEC Construction and HiTrac Equipment and two big oil field transportation packages of late-model rig moving equipment from H&E Oilfield Services and Cierra Trucking that attracted higher-than-average U.S. participation. We would like to thank the many sellers who once again put their trust in Ritchie Bros. to market their equipment to the world, and the thousands of bidders for helping us deliver a safe and successful sale."

Customer testimonials

"Ritchie Bros. in the best place in the world to buy and sell equipment," said Albert Benson, president of NEC Construction Ltd. "The Ritchie Bros. team is a such a great group of people to work with -- so down-to-earth -- and their auction process is very honest and transparent. Their marketing is great and they get the best prices. The results on our equipment last week were amazing."

"I've been selling with Ritchie Bros. since 2010 because they get me better returns than trading in or any other way of selling," said Jed Fryer, owner of J.F. Logging Ltd., based in Prince George, B.C. "Ritchie Bros. provides an amazing selling experience. We sold nine heavy haul trucks in last week's Edmonton auction and the results once again exceeded our expectations."

Equipment highlights

In total, more than 9,450 equipment items and trucks were sold in last week's Edmonton auction, including over 275 excavators, over 270 truck tractors, over 245 compactors, over 145 dozers, over 130 aerial work platforms, over 125 skid steers, over 100 articulated dump trucks, over 90 boom trucks, over 80 winch tractors, over 45 agricultural tractors, over 20 bed trucks, as well as a large selection of farmland and industrial real estate. As always, all items were sold without minimum bids or reserve prices. Specific highlights included:

  • Three 2014 Caterpillar D6T LGP crawler tractors sold for a combined $1.29-million.
  • Two unused 2018 Caterpillar D6T LGP crawler tractors sold for a combined $1.19-million.
  • Two 2006 Caterpillar 627G motor scrapers sold for a combined $805,000.
  • Two 2014 Caterpillar A40G six-by-six articulated dump trucks sold for a combined $730,000.
  • A 2014 Kenworth C500 T/A T/A bed truck sold for $410,000.
  • A 2012 Elrus closed-circuit portable cone crushing plant sold for $410,000.
  • A 2014 Caterpillar 14M VHP Plus motor grader sold for $360,000.
  • A 2014 Kenworth C500B T/A tri-drive boom truck sold for $355,000.
  • A 2011 Caterpillar 980K wheel loader sold for $280,000.
  • A 2015 Kenworth C500 tri-drive sleeper winch tractor sold for $250,000.

Auction quick facts: Edmonton, Alta. (April, 2018):

Gross transactional value:  over $207-million (over $161-million (U.S.))

Amount sold to online bidders:  over $120-million (over $93-million (U.S.))

Total registered bidders (on site and on-line):  over 14,000

On-line registered bidders:  over 9,750

Number of lots sold:  over 9,450

Number of sellers:  over 1,290

Ritchie Bros. has dozens of upcoming live auctions and IronPlanet weekly on-line events in the coming months.

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. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with on-line bidding; IronPlanet, an on-line marketplace with featured weekly auctions and providing its exclusive IronClad Assurance equipment condition certification; Marketplace e, an on-line marketplace offering multiple price and timing options; Mascus, a leading European on-line equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales.

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