Ritchie Bros. equipment sales up 15% for 2018
Ritchie Bros. held its sixth and final auction of the year in Edmonton this week, selling more than $82 million of equipment and trucks over three days, bringing its 2018 total to more than 41,400 items sold for more than $639 million — up 15 per cent from 2017.
The December 11-13 auction attracted more than 9,350 bidders from 50 countries, including more than 7,500 people who registered to bid online.
“2018 has been a year of changes and challenges for many of our customers in Western Canada, resulting in a lot of buying and selling activity,” said Brian Glenn, SVP, Head of Sales Canada, Ritchie Bros. “This week in Edmonton we witnessed pricing pressure on oil & gas industry-specific assets as customers across this sector are positioning themselves for fluctuating activity levels heading into 2019.
“Meanwhile, core construction assets continued to bring solid returns in a still-challenging supply market. Forestry and highway transportation-related assets also performed well this week, continuing a trend we’ve seen over the last number of events in Western Canada.”
Approximately 87 per cent of the equipment was sold to Canadian buyers, including 75 per cent sold to Western Canadians. International buyers from such countries as Malaysia, Australia, and the United Kingdom purchased 13 per cent. Online buyers purchased approximately 66 per cent of the assets sold.
More than 760 owners sold equipment in the Edmonton December auction, including a selection of late-model heavy construction equipment from Richardson Bros. Olds Ltd., a heavy civil service contractor based in Olds, Alberta.
Auction quick facts: Edmonton for December
- Gross transactional value $82+ million
- Amount sold to online bidders $54+ million
- Total registered bidders (onsite and online) 9,350+
- Online registered bidders 7,500+
- Number of lots sold 5,000+
- Number of sellers 760+
2018 Edmonton Totals
- Total gross transactional value $639+ million
- Amount sold to online bidders $407+ million
- Total registered bidders (onsite and online) 60,500+
- Online registered bidders 45,350+
- Number of lots sold 41,400+
Ritchie Bros. currently has more than 40,000 equipment items, trucks, and other assets listed for sale in its upcoming onsite unreserved auctions, IronPlanet weekly online auctions, Marketplace-E and its other marketplaces.