US$47+ million of equipment sold in Houston auction

Ritchie Bros. unreserved public auction attracted 4,400+ bidders from 57 countries

HOUSTON, TX, April 22, 2016 /CNW/ - More than US$47 million of equipment and trucks was sold in Ritchie Bros.' Houston, TX auction this week, which went ahead as scheduled despite heavy storms nearby.

"Weather has never stopped a Ritchie Bros. auction," said Alan McVicker, Regional Sales Manager, Ritchie Bros. "We're pleased that we were able to conduct our usual professional auction and bring in buyers from around the world, delivering strong results for sellers. We sold 26% more lots compared to our April Houston auction last year and attracted 5% more bidders.  While there was continued pricing softness for specialized oil and gas equipment, our active bidding audience generated solid performance for cranes."

Mr. McVicker continued, "Our thoughts are with the families who have been affected by the storms in the area."

The two-day auction on April 20 - 21, 2016 attracted 4,400+ total bidders from 57 countries. Approximately 58 percent (US$27+ million) of the equipment was sold to out-of-state buyers, including nine percent (US$4+ million) sold to out-of-country buyers. More than 2,800 of the bidders registered to bid online and purchased 56 percent (US$26+ million) of the equipment in the auction.

Specific equipment sales highlights:

• Two Link-Belt 218HSL HYLAB 110-ton self-erecting crawler cranes sold for a combined $650,000
• A 2007 Liebherr LTM1160-5.1 190-ton 10x6x8 all terrain crane sold for $455,000
• A 2014 Caterpillar RM300 pulverizer sold for $330,000
• Four 2010 Caterpillar 777F rock trucks sold for a combined $530,000
• A 1997 Link-Belt LS248H 200-ton crawler crane sold for $330,000
• Two 2011 Caterpillar 740 6x6 articulated dump trucks sold for a combined $320,000
• Two 2012 Caterpillar D6N LGP crawler tractors sold for a combined $277,500
• A 2013 John Deere 850K crawler tractor sold for $145,000
• A 2013 Western Star 6900XD T/A T/A bed truck sold for $147,500
• A 2012 Caterpillar 336E hydraulic excavator sold for $137,500

Auction quick facts: Houston (April 2016)

• Gross auction proceeds – US$47+ million
• Amount sold to online bidders – US$26+ million
• Total registered bidders (onsite and online) – 4,400+ bidders from 57 countries
• Online registered bidders – 2,800+
• Number of lots sold – 4,700+
• Number of sellers – 525+

Ritchie Bros. has 100+ upcoming auctions on its calendar at rbauction.com, including a two-day sale in Fort Worth, TX on May 4-5, 2016. More than 2,600 items will be sold in the Fort Worth auction, including 315 trailers, 355 truck tractors, 55+ compactors, 35+ excavators, 30+ loaders, 25 dozers, and more. Visit rbauction.com/Fort-Worth for more info.

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 and video for embedding in media stories 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]