Ritchie Bros. sells CA$73+ million of equipment in final Edmonton auction of the year

In 2014 Ritchie Bros. sold more than 32,500 items for CA$569+ million in Edmonton, AB, a 29 percent increase compared to CA$440+ million last year

EDMONTON, Dec. 15, 2014 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest industrial auctioneer, sold more than CA$73 million (US$63+ million) of heavy equipment and trucks in Edmonton, Alberta on December 11 – 12, 2014. This was Ritchie Bros.' 6,000^th auction in its history and the largest December auction ever. More than 4,700 equipment items and trucks were sold in the two-day auction. All items were sold without minimum bids or reserved prices.

"This was our largest year ever in Edmonton. We sold more than 32,500 equipment items over six auctions for CA$569+ million," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "Last week we capped the year off with our largest December sale ever. We continue to carefully watch the impact of lower oil prices on many of our customers and look forward to assisting them in their future equipment dispersal needs."     

Almost 6,200 bidders from 53 countries, including all Canadian provinces and territories, as well as 44 U.S. states, registered to bid in person or online for the auction. More than CA$47 million (US$40+ million) of equipment and trucks was purchased by Alberta buyers, while participants from outside the province purchased CA$26+ million (US$23+ million) for 36 percent of total gross auction proceeds. More than 4,000 of the bidders in the auction participated online and purchased almost CA$40 million (US$34+ million) of equipment.

Equipment in the auction was sold for 600+ sellers, including dump trucks, gravel trailers and a wheel loader for McPhee Construction Ltd., an Edson, AB-based contractor specializing in road maintenance for the oil patch. The company also operates gravel pits. McPhee Construction Ltd. have been buying and selling with Ritchie Bros. for more than 20 years.

"We recently ordered some new equipment so we came to Ritchie Bros. to sell our surplus gear," said Pat McPhee, President, McPhee Construction Ltd. "There was a great crowd at the auction last week and I was happy with the results. Good equipment brings good money and the Ritchie Bros. Edmonton auction always has a great selection."

Equipment highlights in the auction included: 110+ excavators, 95+ truck tractors, 90+ compactors, 75+ crawler tractors, 20 wheel loaders, 15+ articulated dump trucks and more.

AUCTION QUICK FACTS: EDMONTON, ALBERTA – DECEMBER 11 – 12, 2014

• 2014 Total Gross Auction Proceeds for Edmonton, AB auction site – CA$569+ million, a 29 percent increase compared to CA$440+ million in 2013 (US$511+ million, a 20 percent increase compared to US$424+ million in 2013)
• Total Gross Auction Proceeds – CA$73+ million (US$63+ million) (*largest December auction in Company history)
• Amount sold to online bidders – almost CA$40 million (US$34+ million)
• Total registered bidders (onsite and online total) – almost 6,200
• Unique registered online bidders – 4,000+
• Total number of buyers – 1,800+
• Total number of online buyers – 1,100+
• Number of lots sold – 4,700+
• Number of sellers – 600+

Ritchie Bros. will hold its final 11 auctions of the year this week, with its final 2014 auction to be held in Newark, New Jersey on December 19. The Company's next Edmonton, AB auction will be held on February 25 – 26, 2015 and consignments are already being accepted—please contact the auction site for more information: +1.780.955.2486. Visit www.rbauction.com for a complete list of upcoming auctions.  

About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE andTSX: 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 EquipmentOne^TM 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 (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.

ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.

SOURCE: Ritchie Bros. Auctioneers

Ian Malinski, Corporate Communications Lead, Ritchie Bros. Auctioneers, Phone: [phone] | Email: [email protected] Or Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers, Edmonton auction site phone: [phone]