Thousands attend Ritchie Bros.' CA$129+ million Edmonton auction last week

More than 10,600 people registered to bid in the Oct. 25-28 auction, including 7,300+ online bidders

EDMONTON, Oct. 31, 2016 /CNW/ - With winter on its way, many Alberta contractors are realigning their fleets for winter work, making it a perfect time for another Ritchie Bros. auction. More than 10,600 people registered to bid for the company's latest Edmonton, AB auction, held last week. More than 8,000 equipment items and trucks were sold in the four-day auction (Oct. 25-28, 2016) for CA$129+ million (US$96+ million).      

Approximately 88 percent of the equipment was sold to Canadian buyers (by dollar value), including 53 percent sold to Albertans; about 10 percent was sold to U.S. buyers. Online buyers purchased 60 percent (CA$77+ million or US$57+ million) of the equipment.

"With record attendance for October, nearly every construction and transportation equipment category performed well," said Brian Glenn, Senior Vice President, Ritchie Bros. "Customers are upbeat and were pleased with the level of bidder activity and the pricing we achieved. We have one more Edmonton auction scheduled for 2016 in December, and encourage anyone interested in selling assets before the end of the year to contact us. We already have a couple of large dispersals lined up."

Ritchie Bros. sold equipment for 900+ owners in Edmonton, including Gary Carter Excavating, a West Edmonton-based residential and commercial excavation company.

"I'm retiring after 43 years in business and came to Ritchie Bros. to sell my entire fleet," said Gary Carter, owner and president of Gary Carter Excavating. "I've purchased from Ritchie Bros. in the past, but this is the first time I've ever sold. Traditionally I would sell equipment myself, but it takes forever and you have a million people walking through your yard. Selling with Ritchie Bros. was quick, easy and the results were even better than we expected. I would highly recommend selling with Ritchie—they are helpful and organized, and reach a worldwide audience."

Sales highlights in this week's auction included:

  • Three 2013 Caterpillar 730EJ ejector 6x6 articulated dump trucks sold for a combined CA$805,000
  • Two Caterpillar 815F series II compactors sold for a combined CA$740,000
  • Three 2012 Kenworth T370 4x4 sleeper service trucks sold for a combined CA$517,500
  • An unused 2015 Kenworth T800 T/A tri-drive w/ Manitex 45110T boom truck sold for CA$490,000
  • A 2014 Hitachi ZX470LC-5B VG hydraulic excavator sold for CA$390,000
  • Note: Access to two years of equipment prices is available with a free web account at rbauction.com.

Auction quick facts: Edmonton, AB (October 25-28, 2016)

  • Gross auction proceeds – CA$129+ million (US$96+ million)
  • Amount sold to online bidders – CA$77+ million (US$57+ million)
  • Total registered bidders (onsite and online) – 10,600+ bidders from 50+ countries
  • Online registered bidders – 7,300+
  • Number of lots sold – 8,000+
  • Number of sellers – 900+

Ritchie Bros. will conduct its final Edmonton auction of 2016 on December 7-8. Anyone interested in adding their equipment to the auction should contact the auction site at +1.780.955.2486.

About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: 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 EquipmentOneTM 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

For further information: Ian Malinski, Corporate Communications Lead, CorpComm@rbauction.com; For investor inquiries, please contact: Jamie Kokoska, Director, Investor Relations, Ritchie Bros. Auctioneers, Phone: 778-331-5219, Email: jkokoska@rbauction.com

RELATED LINKS
www.rbauction.com

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