June 24, 2019 - 7:00 AM EDT
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CA$72+ million of equipment sold in latest Ritchie Bros. Edmonton auction

Canada NewsWire

10,100+ people registered to bid in the three-day June event; approx. 70% of equipment sold online

EDMONTON, June 24, 2019 /CNW/ - Last week, Ritchie Bros. conducted its third Edmonton, AB auction of the year, selling 7,400+ equipment items and trucks for CA$72+ million (US$54+ million).

More than 10,100 people from 49 countries registered to bid in the June 20 – 22, 2019 event, including 8,300+ online bidders. Approximately 89 percent of the equipment in the auction was sold to Canadian buyers, with buyers from Alberta purchasing 59 percent, while international buyers from countries such as Australia, Greece, and the United Kingdom purchased 11 percent of the equipment. Online bidders purchased approximately 70 percent of the equipment.

"We continue to see strong attendance for our Edmonton auctions in 2019," said Brian Glenn, SVP, Head of Canadian Sales, Ritchie Bros. "Oilfield transportation equipment, which was the key component to our Edmonton June event, performed very well this week. However, as the landscape for construction projects continues to change in Western Canada we did see a moderate level of pricing pressure on certain equipment categories. We are confident, as the Alberta oil and gas market gets moving again heading into fall, the landscape for our customer base will improve and demand for used equipment will continue to rise."

Mr. Glenn added, "As part of last week's auction we teamed up with Leake Auction Company to sell more than 30 collector cars, and got very strong results, including a 1966 Ford Mustang that sold for CA$67,000."

Equipment and trucks were sold in the Edmonton auction for 1,100+ owners, including a complete dispersal of 150+ items for Dynamic Heavy Haul Ltd., a premier rig moving and heavy haul provider with operations in Saskatchewan and Alberta. 

"Ritchie Bros. sets the standard in the auction industry," said Eric Eckert, President of Dynamic Heavy Haul. "We've bought and sold with them many times in the past and they are always helpful and professional, taking care of all the little important details. The exposure they provide our equipment is massive and we are pleased with the results achieved last week."

Sales highlights included:

  • Two unused 2018 Western Star 4700SB hydro vac trucks sold for a combined CA$802,500
  • Two 2012 Volvo A30F 6x6 articulated dump trucks sold for a combined CA$407,500
  • A 2014 Kenworth C500 T/A T/A 385-in. WB bed truck sold for CA$275,000
  • A 2013 Caterpillar D6N LGP dozer sold for CA$270,000
  • A 2013 Kenworth C500 T/A tri-drive w/ Weldco WHL45TC100 boom truck sold for CA$230,000
  • A 2013 Kenworth C500 T/A Texas bed winch tractor sold for CA$190,000
  • A 2008 Claas Jaguar 830 forage harvester sold for CA$180,000
  • A 2017 Doepker Rockr 31-ft. super b-train lead side-dump trailer sold for CA$124,000

AUCTION QUICK FACTS: EDMONTON, AB (June 2019)

  • Total gross transactional value – CA$72+ million (US$54+ million)
  • Amount sold to online bidders – CA$51+ million (US$38+ million)
  • Total registered bidders (in person and online) – 10,100+
  • Registered online bidders – 8,300+
  • Total lots sold – 7,400+
  • Number of sellers – 1,100+

Leading up to the Edmonton auction was a special Marketplace-E online event with more than 100 items. The event, which started on June 10, features many high-value items and is still ongoing; visit ironplanet.com/mpe-edmonton for more info.

Ritchie Bros. currently has more than 60,000 equipment items, trucks, and other assets listed for sale across all its auctions and marketplaces. For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) 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 number 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 offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company's suite of multichannel sales solutions also includes RB Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy Auctioneers, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

Cision View original content:http://www.prnewswire.com/news-releases/ca72-million-of-equipment-sold-in-latest-ritchie-bros-edmonton-auction-300873143.html

SOURCE Ritchie Bros. Auctioneers

View original content: http://www.newswire.ca/en/releases/archive/June2019/24/c5756.html

Ian Malinski, Media Relations Manager, +1.778.331.5432, [email protected]; For investor inquiries, please contact: Zaheed Mawani, Vice President, Investor Relations, Phone: 1.778.331.5219, [email protected] CNW Group 2019


Source: Canada Newswire (June 24, 2019 - 7:00 AM EDT)

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