Ritchie Bros. sets records for online sales, bidders and items sold in 2009
Ritchie Bros. (www.rbauction.com) conducted its final unreserved auctions of 2009 last week, including a
"We have many accomplishments to celebrate in 2009: we welcomed record numbers of bidders to our unreserved public auctions, including tens of thousands of first-time customers, helped our consignors sell a record number of equipment items, and confirmed our position as the world's largest on-site and online industrial auctioneer," said
"This year also presented challenges for our customers and for our company," continued
Industrial auction results
------------------------------------------------------------------------- Year ended Year ended December 31, 2009 December 31, 2008 ------------------------------------------------------------------------- Number of industrial auctions 195 193 ------------------------------------------------------------------------- Bidder registrations 336,000 277,000 ------------------------------------------------------------------------- Buyers 98,000 84,000 ------------------------------------------------------------------------- Consignments 37,000 37,000 ------------------------------------------------------------------------- Lots 283,000 253,000 -------------------------------------------------------------------------
Online bidding
Ritchie Bros. introduced an enhanced version of its real-time internet bidding software in 2009, making it easier for customers to bid in auctions taking place at the same time. Since first launching its online bidding service in 2002, Ritchie Bros. has sold nearly
Average industrial auction
------------------------------------------------------------------------- Year ended Year ended December 31, 2009 December 31, 2008 ------------------------------------------------------------------------- Gross auction proceeds $17.3 million $17.7 million ------------------------------------------------------------------------- Registered bidders 1,720 1,430 ------------------------------------------------------------------------- Consignors 190 190 ------------------------------------------------------------------------- Lots 1,450 1,300 -------------------------------------------------------------------------
Dividends
In 2009, Ritchie Bros. paid close to
Gross auction proceeds records
Ritchie Bros. set regional gross auction proceeds records at 11 of its 39 auction sites in 2009:
- Moncofa, Spain - 33 million Euros ($43 million): the largest Spanish auction in Company history (March 11 - 13) - Montreal, Quebec - CA$31 million ($25 million) (March 12 & 13) - Houston, Texas - $66 million (March 25 - 27) - Edmonton, Alberta - CA$93 million ($79 million): the largest Canadian auction in Company history (April 28 - 30). Ritchie Bros.' Edmonton site sold CA$392 million ($344 million) of equipment in 2009: the highest annual gross auction proceeds of any site in Company history. - Dubai, United Arab Emirates - $46 million: the largest Middle Eastern auction in Company history (June 1 - 3) - Denver, Colorado - $35 million (June 4 & 5) - Caorso, Italy - the largest Italian auction in Company history (June 11 & 12) - Paris, France - the largest French auction in Company history (June 25 & 26) - London, Ontario - new regional record (September 18) - Fort Worth, Texas - $66 million (September 23 - 25) - Madrid, Spain - new regional record (October 23)
During the year, Ritchie Bros. also conducted its first auctions in
Auction site network expansion
Ritchie Bros. conducted Grand Opening auctions at five new or replacement permanent auction sites in 2009:
- Minneapolis, Minnesota - Houston, Texas - London, Ontario - Grande Prairie, Alberta - Mexico City, Mexico
During 2009 Ritchie Bros. also established a regional auction unit in
Ritchie Bros. purchased land for three permanent auction sites in 2009, all of which are under construction and scheduled for completion in 2010: a replacement site in Caorso,
Business development
In early 2009 Ritchie Bros. entered into a partnership with uShip, the world's largest online shipping marketplace, to provide online shipping quotes and estimates to customers at its auctions in
The Company also announced its acquisition of Tipton, California-based Martella Auction Company in
Upcoming auctions
There are 76 unreserved auctions on the upcoming Ritchie Bros. auction calendar at www.rbauction.com, which commences with the Grand Opening auction at the Company's new permanent auction site in Narita,
Forward-looking statements
The discussion in this news release relating to future operating periods contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) that involve risks and uncertainties, including, in particular, statements regarding the effect on the Company's 2010 results of recent price stability at its auctions. These risks and uncertainties include: the numerous factors that influence the supply of and demand for used equipment; fluctuations in the market values of used equipment; actions of competitors; conditions in local and regional markets; and other risks and uncertainties as detailed from time to time in the Company's SEC and Canadian securities filings, including the Company's Management's Discussion and Analysis of Financial Condition and Results of Operations for the quarter ended
About Ritchie Bros.
Established in 1958, Ritchie Bros. Auctioneers (NYSE andTSX: RBA) is the world's largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. The Company has over 110 locations in more than 25 countries, including 39 auction sites worldwide. Ritchie Bros. sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.
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For further information: Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers, Mobile: (604) 788-5379 or email: [email protected]
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