CA$72+ million of equipment sold in latest Ritchie Bros. Edmonton auction
10,100+ people registered to bid in the three-day June event; approx. 70% of equipment sold online
EDMONTON, June 24, 2019 /PRNewswire/ - Last week, Ritchie Bros. conducted its third Edmonton, AB auction of the year, selling 7,400+ equipment items and trucks for CA$72+ million (US$54+ million).
More than 10,100 people from 49 countries registered to bid in the June 20 – 22, 2019 event, including 8,300+ online bidders. Approximately 89 percent of the equipment in the auction was sold to Canadian buyers, with buyers from Alberta purchasing 59 percent, while international buyers from countries such as Australia, Greece, and the United Kingdom purchased 11 percent of the equipment. Online bidders purchased approximately 70 percent of the equipment.
"We continue to see strong attendance for our Edmonton auctions in 2019," said Brian Glenn, SVP, Head of Canadian Sales, Ritchie Bros. "Oilfield transportation equipment, which was the key component to our Edmonton June event, performed very well this week. However, as the landscape for construction projects continues to change in Western Canada we did see a moderate level of pricing pressure on certain equipment categories. We are confident, as the Alberta oil and gas market gets moving again heading into fall, the landscape for our customer base will improve and demand for used equipment will continue to rise."
Mr. Glenn added, "As part of last week's auction we teamed up with Leake Auction Company to sell more than 30 collector cars, and got very strong results, including a 1966 Ford Mustang that sold for CA$67,000."
Equipment and trucks were sold in the Edmonton auction for 1,100+ owners, including a complete dispersal of 150+ items for Dynamic Heavy Haul Ltd., a premier rig moving and heavy haul provider with operations in Saskatchewan and Alberta.
"Ritchie Bros. sets the standard in the auction industry," said Eric Eckert, President of Dynamic Heavy Haul. "We've bought and sold with them many times in the past and they are always helpful and professional, taking care of all the little important details. The exposure they provide our equipment is massive and we are pleased with the results achieved last week."
Sales highlights included:
AUCTION QUICK FACTS: EDMONTON, AB (June 2019)
Leading up to the Edmonton auction was a special Marketplace-E online event with more than 100 items. The event, which started on June 10, features many high-value items and is still ongoing; visit ironplanet.com/mpe-edmonton for more info.
Ritchie Bros. currently has more than 60,000 equipment items, trucks, and other assets listed for sale across all its auctions and marketplaces. For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com
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Photos and video for embedding in media stories are available at rbauction.com/media.
SOURCE Ritchie Bros. Auctioneers