Local and global demand for used equipment net strong returns for
EDMONTON, Sept. 12, 2011 /CNW/ - Ritchie Bros. Auctioneers (NYSE and
TSX: RBA), the world's largest industrial auctioneer, attracted more
than 5,100 on-site and online bidders from 39 countries to a two-day
CA$58 million (US$58 million) unreserved public auction at its auction
site in Edmonton, Alberta on September 7 & 8, 2011. More than 2,200
people (44%) bid online in real time at www.rbauction.com, purchasing almost CA$15 million (US$15 million) of equipment (26%).
"There was a strong presence on-site and online and bidding during both
days of the auction was very aggressive," said Jake Lawson, Regional
Manager, Ritchie Bros. Auctioneers. "There's a shortage of equipment in
the marketplace right now, which resulted in strong activity and
pricing. Our customers were very receptive of the new services we
provide—financing, insurance, powertrain service warranties and the
detailed equipment information on our web site. More information online
plus the ability to inspect the equipment on-site definitely gave our
customers the confidence to bid on auction day. In the end, both buyers
and sellers benefitted."
Ritchie Bros. sold close to 4,700 equipment items and trucks from more
than 700 owners at the auction, which included complete dispersals for
Wilderness Logging Ltd., South Shore Sand & Gravel and Stevenson &
Tredway. Wilderness Logging sold more than 60 pieces of heavy
equipment, including hydraulic excavators, crawler tractors, grapple
skidders, feller bunchers and log loaders.
"I've bought and sold equipment through Ritchie Bros. before but nothing
of this magnitude," said Perry Hussey, president of Wilderness Logging.
"Quite a bit of my equipment was purchased locally but some also sold
online to buyers from B.C. and the Yukon Territories. The online
bidding at the auction definitely helped me get a better return for my
Other items sold in the September 7 - 8 Edmonton auction included a 1987
BAE Jetstream 31 commercial turboprop aircraft, purchased by an online
bidder for CA$430,000 (US$434,750), and 14 rough terrain cranes, some
of which were purchased by buyers from as far away as the United Arab
Emirates, Singapore and California.
There are currently close to 100 upcoming unreserved public auctions on
the Ritchie Bros. auction calendar at www.rbauction.com. Ritchie Bros.' next unreserved public auction in Edmonton is scheduled
October 26 - 27. Interested buyers and sellers can contact the Edmonton
auction site at +1.780.955.2486.
About Ritchie Bros.
Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is
the world's largest industrial auctioneer, selling more equipment to
on-site and online bidders than any other company in the world. Ritchie
Bros. offers services that enable the world's builders to easily and
confidently exchange equipment. The Company conducts hundreds of
unreserved public auctions each year, selling a broad range of used and
unused equipment, trucks and other assets utilized in the construction,
transportation, agricultural, material handling, mining, forestry,
petroleum and marine industries. Ritchie Bros. has over 110 locations
in more than 25 countries, including 43 auction sites worldwide. The
Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com
Investors and potential investors should note that this information may not be
indicative of the overall financial performance of the Company for this
or any period.
ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media.
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SOURCE Ritchie Bros. Auctioneers
For further information:
Vicki Cunningham, Supervisor, Corporate Communications, Ritchie Bros. Auctioneers
Phone: +1.778.331.5464 or email firstname.lastname@example.org
Jake Lawson, Regional Manager, Ritchie Bros. Auctioneers
Edmonton site phone: +1.780.955.2486 or email email@example.com