Ritchie Bros. sells CA$225+ million of equipment & vehicles in April Edmonton event
The five-day auction attracted 21,000+ bidders from 50 countries to compete for 12,000+ items
EDMONTON, AB, May 1, 2023 /CNW/ - Last week Ritchie Bros. conducted its largest Canadian auction of the year, selling 12,000+ equipment items and vehicles over five days, generating CA$225+ million (US$164+ million) in gross transaction value.
The April 24 – 28, 2023 online and onsite auction attracted more than 21,000 bidders from 50 countries, with approximately 93% of the equipment selling to Canadians, including 59% purchased by Albertans. The remaining 7% 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+ 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, who sold three 2015 Caterpillar D6T dozers for a combined CA$817,500 and two 2017 Caterpillar 815F compactors for CA$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."
- 2020 Vermeer D220X300III directional drill – CA$825,000
- 2018 Caterpillar 374 FL VG hydraulic excavator – CA$610,000
- 2019 Western Star 4900SA w/ 2019 Custom vac on 8x6 hydro vac truck – CA$540,000
- Two 2016 Volvo A40G FS articulated dump trucks – CA$467,500 each
- 2013 Tadano GT900XL-1 90-ton 8x4x4 hydraulic truck crane – CA$440,000
- Gross Transaction Value: CA$225+ million (US$164+ million)
- Items Sold: 12,000+
- Bidders: 21,000+
- Consignors: 1,400+
Ritchie Bros. has more than 75,000 equipment items and trucks in its upcoming auctions and online marketplaces, including 4,700+ items selling in an Ontario Regional Event on May 9 – 11; 1,100+ items selling in an Atlantic Canada Regional Event on May 15; and 1,100+ items selling in Lethbridge, AB on May 16. For a complete list of upcoming auctions and events, including weekly IronPlanet auctions and Marketplace-E events, visit rbauction.com/auctions.
Ritchie Bros. (NYSE andTSX: RBA), 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 online bidding; IronPlanet, an online 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 online equipment listing service; The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides 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 lifecycle and integrates parts procurement with both OEMs 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. For more information about Ritchie Bros., visit RitchieBros.com.
Photos and video for embedding in media stories are available at rbauction.com/media.
SOURCE Ritchie Bros.
Ian Malinski, Media Relations Manager, +1.778.331.5432, [email protected]; For investor inquiries, please contact: Sameer Rathod, Vice President, Investor Relations & Market Intelligence, +1.510.381.7584, [email protected]
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