Houston heats up as Ritchie Bros. sells US$46+ million of equipment in June auction

Two-day auction attracts 4,250+ bidders from 57 countries; 58% of equipment sold online

HOUSTON, June 23, 2017 /CNW/ - Summer officially kicked off in Texas as Ritchie Bros. conducted its third Houston auction of the year this week, selling 4,700+ equipment items and trucks for US$46+ million—making it the largest June auction ever for the site.

Over two action-packed days (June 21 – 22, 2017), more than 4,250 people from 57 countries registered to bid in the auction, including 2,850+ people who registered to bid online. Approximately 58 percent of the equipment (US$26+ million) was sold to online bidders. U.S. buyers purchased 86 percent of the equipment, including 44 percent purchased by Texas buyers. International buyers from as far away Australia, Egypt, and Vietnam purchased 14 percent of the equipment.

"We had a very successful auction with a wide range of equipment items and trucks selling for just about every sector," said Alan McVicker, Regional Sales Manager, Ritchie Bros. "Enthusiastic bidder turnout both onsite and online, along with strong pricing, helped us achieve 17 percent higher gross auction proceeds this week than the same auction last year and make this our largest June auction ever in Houston. We had an impressive line-up of cranes that attracted a lot of attention from around the world, we were particularly pleased with the price we got for a customer selling a Manitowoc 16000 440-ton crawler crane that went for US$2.25 million. I would like to offer a big thank you to all of our consignors, bidders and buyers that continue to make our auctions great events."

Equipment in the auction was sold for 550+ owners. The selection included 120+ excavators, 75+ cranes, 55+ dozers, 50+ compactors, 50+ skid steers, 55+ dump trucks, 325+ truck tractors, 330+ trailers and much more. All items were sold without minimum bids or reserve prices. 

Specific equipment highlights:

• A 2013 Manitowoc 16000 440-ton self-erecting crawler crane sold for US$2.25 million
• Three 2013 Grove RT540E4 40-ton 4x4 rough terrain cranes sold for a combined US$577,500
• Two 2014 Caterpillar D6T XW dozers sold for a combined US$545,000
• A 2014 Caterpillar MH3059 material handler sold for US$360,000
• Two 2012 Volvo A30F 6x6 articulated dump trucks sold for a combined US$330,000
• A 2016 Peterbilt 389 sleeper truck tractor sold for US$95,000

Auction quick facts: Houston, TX (June 2017)

• Gross auction proceeds – US$46+ million
• Amount sold to online bidders – US$26+ million
• Total registered bidders (onsite and online) – 4,250+
• Online registered bidders – 2,850+
• Number of lots sold – 4,700+
• Number of sellers – 550+

About Ritchie Bros.

Established in 1958, Ritchie Bros. (NYSE andTSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance® equipment condition certification; EquipmentOne, an online auction marketplace; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy Auctioneers, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

SOURCE Ritchie Bros.

Ian Malinski, Corporate Communications Lead, +1.778.331.5432, [email protected]; For investor inquiries, please contact: Erwyn Naidoo, Investor Relations, +1.778.331.5219, [email protected]