Ritchie Bros. sells CA$96+ million of equipment and trucks at Edmonton, AB auction

A combined CA$395+ million of equipment sold at three Edmonton auctions held so far in 2015

EDMONTON, June 12, 2015 /CNW/ - Ritchie Bros. (NYSE andTSX: RBA), the world's largest industrial auctioneer, sold CA$96+ million (US$78+ million) of heavy equipment and trucks at an unreserved public auction in Edmonton, AB on June 9 – 11, 2015. The auction attracted 6,950+ bidders from 45+ countries, including 4,500+ online bidders (65 percent). So far in 2015, Ritchie Bros. has conducted three auctions and sold a combined CA$395+ million of equipment in Edmonton—compared to CA$304+ million during the first six months of 2014. Three more Edmonton auctions are scheduled for 2015 (rbauction.com/Edmonton).

"Just six weeks ago we held our largest Edmonton auction ever, and this week we sold another 5,845 items. It's a testament to the operational excellence of our team," Ryan Eacrett, Regional Sales Manager, Ritchie Bros. Auctioneers. "This week we saw strong pricing on construction and transportation assets, in particular articulated dump trucks, late-model bed and boom trucks, and specialized drilling equipment sold very well. However, we are starting to see signs of pressure in the local market as current conditions in the oil & gas sector are starting to effect pricing in specific equipment categories. We will continue to carefully watch the impact of lower oil prices on our customers and the market."

More than CA$86 million (US$70+ million) or 90 percent of the equipment was purchased by Canadian buyers, including 57 percent purchased by Albertans. Equipment sold to buyers from as far away as Egypt, Singapore, Peru, Turkey and the United Arab Emirates.

Ritchie Bros. sold equipment in the Edmonton auction for 930+ sellers, including a complete dispersal for TICA Enterprises Ltd., a family-operated company servicing the oil and gas sector for 25 years.

"Once we decided to retire and explore new options we knew we would sell with Ritchie Bros.," said Tim Cabay, owner of TICA Enterprises. "We started with one grader 25 years ago and grew from there. Ritchie Bros. helped us immensely along the way by having all the equipment we needed to complete projects. We've formed strong relationships with Ritchie Bros. staff and are pleased with all the support they have provided."

More than 5,800+ equipment items were sold this week in Edmonton, including 145+ excavators, 80+ crawler tractors, 70+ compactors, 55+ wheel loaders, 30 articulated dump trucks, 95+ flatbed trucks, 60+ boom trucks, 55+ dump trucks, 40+ winch tractors, 45 agricultural tractors, 185+ truck tractors, 530+ trailers, 260+ pickup trucks, and more.

AUCTION QUICK FACTS: EDMONTON, AB – JUNE 9 – 11, 2015

• Gross Auction Proceeds –  CA$96+ million (US$78+ million)
• Amount sold to online bidders –  CA$54+ million (US$44+ million)
• Total registered bidders (onsite and online) – 6,950+  
• Unique registered online bidders –  4,500+
• Number of lots sold – 5,800+
• Number of sellers – 930+

The Ritchie Bros. auction calendar at rbauction.com currently features more than 95 unreserved public auctions around the world, including the Company's next auction in Edmonton, AB from Sep 9 – 11, 2015 (rbauction.com/Edmonton).

About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE andTSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. ^TM solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOne^TM secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauction.com/financing). Ritchie Bros. has operations in 19 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.

Photos for media are available at rbauction.com/media. 

SOURCE Ritchie Bros. Auctioneers

Ian Malinski, Corporate Communications Lead, Ritchie Bros. Auctioneers, Phone: [phone], Email: [email protected]; For investor inquiries, please contact: Jamie Kokoska, Director, Investor Relations, Ritchie Bros. Auctioneers, Phone: [phone], Email: [email protected]