Mr. Blair Gogowich reports

RITCHIE BROS. SELLS $225+ MILLION OF EQUIPMENT & VEHICLES IN APRIL EDMONTON EVENT

Last week, Ritchie Bros. Auctioneers Inc. conducted its largest Canadian auction of the year, selling over 12,000 equipment items and vehicles over five days, generating over $225-million (over $164-million (U.S.)) in gross transaction value.

The April 24 to 28, 2023, on-line and on-site auction attracted more than 21,000 bidders from 50 countries, with approximately 93 per cent of the equipment selling to Canadians, including 59 per cent purchased by Albertans. The remaining 7 per cent of the equipment was purchased by international buyers from as far away as Chile, Egypt and Romania.

"Our April Edmonton event once again delivered a huge selection of equipment with something for everyone, including lots of late-model, low-hour gear coming off recently completed jobs and ready to go to work for new owners," said Blair Gogowich, regional sales manager, Ritchie Bros. "For buyers who were unable to get the equipment they were looking for, we have a ton of upcoming buying opportunities in the next few months, including our next Edmonton sale in June."

Mr. Gogowich continued: "On top of the 12,000-plus equipment items, we also sold five VIP parking stalls at our site for charity, raising $72,500 for the Make-a-Wish Foundation, which will help grant wishes for seven children. This is our fifth and most successful year of running this fundraiser, raising a total of $157,650 over that time."

More than 1,400 owners sold equipment in the Edmonton auction, including Precision Contractors, which sold three 2015 Caterpillar D6T dozers for a combined $817,500 and two 2017 Caterpillar 815F compactors for $505,000.

"Ritchie Bros.' team is upfront and honest and treats us with the same respect we provide our customers," said Frank Tremmel of Precision Contractors. "They come prepared with data and industry insights to show and educate customers, working with you on optimal selling times and advising on how to get the best results on auction day."

Big sellers from Edmonton:

• 2020 Vermeer D220X300III directional drill -- $825,000;
• 2018 Caterpillar 374 FL VG hydraulic excavator -- $610,000;
• 2019 Western Star 4900SA with 2019 custom vac on eight-by-six hydro vac truck -- $540,000;
• Two 2016 Volvo A40G FS articulated dump trucks -- $467,500 each;
• 2013 Tadano GT900XL-1 90-ton eight-by-four-by-four hydraulic truck crane -- $440,000.

Auction quick facts: Edmonton, Alta. (April, 2023):

• Gross transaction value: over $225-million (over $164-million (U.S.));
• Items sold: over 12,000;
• Bidders: over 21,000;
• Consignors: over 1,400.

Ritchie Bros. has more than 75,000 equipment items and trucks in its coming auctions and on-line marketplaces, including over 4,700 items selling in an Ontario regional event on May 9 to 11; over 1,100 items selling in an Atlantic Canada regional event on May 15; and over 1,100 items selling in Lethbridge, Alta., on May 16.

About Ritchie Bros. Auctioneers Inc.

Ritchie Bros., together with IAA Inc., is a trusted global marketplace for insights, services and transaction solutions for commercial assets and vehicles. The company's selling channels include Ritchie Bros. Auctioneers, the world's largest auctioneer of commercial assets and vehicles offering on-line bidding; IronPlanet, an on-line marketplace with weekly featured auctions and providing the exclusive IronClad Assurance equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European on-line equipment listing service. The company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provide a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment life cycle and integrates parts procurement with both original equipment manufacturers and dealers; plus equipment financing and leasing through Ritchie Bros. Financial Services. Additionally, leveraging leading-edge technology and focusing on innovation, IAA's unique platform facilitates the marketing and sale of total-loss, damaged and low-value vehicles. IAA serves a global buyer base -- located throughout over 170 countries -- and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to multiple digital bidding and buying channels, innovative vehicle merchandising, and efficient evaluation services, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns.