US$53+ Million of Equipment Sold at Ritchie Bros. Auction in Fort Worth, Texas
Jul 24, 2015, 07:00 ET
More than 4,250 items sold at two-day unreserved public auction—a new Fort Worth site record
FORT WORTH, TX, July 24, 2015 /CNW/ - Ritchie Bros. (NYSE andTSX: RBA), the world's largest industrial auctioneer, sold more than US$53 million of equipment and trucks at its unreserved public auction in Fort Worth, Texas on July 22-23, 2015. The two-day auction set a new Fort Worth site record for number of lots sold, with more than 4,250 items being sold to bidders around the world, including 500+ trailers, 385+ truck tractors, 95+ excavators, 90+ loader backhoes, 50+ compactors, 50+ flatbed trucks, 45+ boom trucks, 40 crawler tractors, 35+ winch tractors, and much more. More than 3,750 people from 53 countries registered to bid in person, online at rbauction.com, and by proxy.
"We had a tremendous line-up of gear at the auction, and the crowds really turned out to bid," said Dolan Aucoin, Regional Sales Manager, Ritchie Bros. Auctioneers. "Pricing met or exceeded our expectations, especially on good quality, well maintained equipment. Many bidding customers found it difficult to find deals. As usual with Ritchie Bros. unreserved auctions, every item was sold to the highest bidder, with no reserve prices and no minimum bids."
Ritchie Bros. sold equipment for 490+ sellers, including Texas-based Cash Construction Company Inc. Established in 1969, Cash Construction specializes in projects involving water, wastewater and dry utilities, as well as drainage improvements, lift stations, pump stations and roadwork.
"We've been selling through Ritchie Bros. since 1996," said Robert Pullen, Equipment Manager for Cash Construction. "All the people I interact with at Ritchie Bros., from the counter staff to everyone in the yard, are friendly, easy to work with and well-versed in what they do. Ritchie Bros. is a good, honest company; they give accurate appraisals and are who you want to work with when selling your equipment."
Buyers from outside Texas purchased approximately US$26 million of equipment and trucks (or 50 percent of total gross auction proceeds). Equipment sold to buyers from as far away as the United Arab Emirates, Poland and Taiwan.
AUCTION QUICK FACTS: FORT WORTH, TEXAS – JULY 22 – 23, 2015
- Total Gross Auction Proceeds – US$53+ million
- Amount sold to online bidders – US$24+ million
- Total registered bidders (in person and online) – 3,750+
- Registered online bidders – 2,350+
- Total lots sold – 4,250+
- Number of sellers – 490+
There are 70+ unreserved public auctions on the calendar at rbauction.com, including Ritchie Bros.' next auction in Texas on August 26 - 27, 2015 in Houston. Visit rbauction.com/Houston or contact the Houston site at +1.713.455.5200 to ask about selling.
Anyone can also buy and sell equipment and trucks at any time on EquipmentOne.com, Ritchie Bros.' secure online marketplace.
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 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 for media are available at rbauction.com/media.
SOURCE Ritchie Bros. Auctioneers
For further information: please contact: Ian Malinski, Corporate Communications Lead, Ritchie Bros. Auctioneers, Phone: +1.778.331.5432, Email: [email protected]; For investor inquiries, please contact: Jamie Kokoska, Director, Investor Relations, Ritchie Bros. Auctioneers, Phone: 778-331-5219, Email: [email protected]
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