Ritchie Bros. announced it sold approximately $4.25 billion of equipment through 345 unreserved auctions and its online equipment marketplace during 2015. The company noted that $1.9 billion of equipment or 45% was sold to online buyers.

The company said this is a new annual record and represents a 1% increase in gross auction proceeds (GAP) compared to 2014. The company said GAP growth from Ritchie Bros.’ international operations was muted by the depreciation of local currencies against the U.S. dollar. On an organic basis, using foreign exchange rates consistent with comparable periods last year to remove the negative translational impact of reporting in U.S. dollars, GAP grew 8% in 2015 compared to 2014.

During the fourth quarter of 2015, the company generated gross auction proceeds of $1.1 billion, a decrease of 9% compared to the record fourth quarter GAP achieved last year.  On an organic basis, GAP declined 1% during the fourth quarter of 2015 compared to the fourth quarter of 2014.  Market values of used equipment declined during the quarter, which contributed to the decline in GAP.