Ritchie Bros. Sells $44MM of Equipment During Auction for WB Pipeline
AUG 18, 2023 - 6:44 am
Ritchie Bros. Auctioneers, a subsidiary of RB Global, sold nearly $44 million of equipment for WB Pipeline in an auction on Aug. 9 in Splendora, TX. Thousands of onsite and online bidders competed for more than 2,700 pieces of equipment items in the event, which was Ritchie Bros.’ largest pipeline construction auction of the year. The auction was part of a strategic downsizing initiative for WB Pipeline, which will continue to serve its clients.
“The collaboration between WB Pipeline and Ritchie Bros. proved to be a winning combination, resulting in a dynamic auction atmosphere that effectively showcased the high-quality equipment available,” William B. Haines, CEO of WB Pipeline, said. “This achievement underscores Ritchie Bros.’ ability to deliver outcomes for their clients, solidifying their reputation as a leader in the auction industry. We extend our heartfelt appreciation to all those who participated in the auction.”
More than 5,500 people from more than 40 countries registered to bid in the unreserved auction in suburban Houston. U.S. buyers purchased approximately 94% of the equipment, with Texas buyers accounting for 64% of the equipment sold. The remaining 6% was sold to international buyers in Canada, Mexico, Belize, Bolivia and the United Arab Emirates.
“Ritchie Bros. was able to build a custom-tailored onsite plan for the restructuring of WB Pipeline that created a lot of energy around some of the best pipeline fleet in the world,” Jeff Jeter, chief revenue officer at RB Global, said. “Our flexible solutions, marketing efforts and execution had customers excited and ready to go on auction day. I want to thank WB Pipeline and all our buyers for making this event a success.”
Ritchie Bros. will have more than 50,000 equipment items and trucks on sale in its upcoming auctions and online marketplaces, including auctions in Houston on Aug. 22-25; Orlando, FL on Aug. 31-Sept. 1; Fort Worth, TX on Sept. 19-21; and a Southeast Regional auction on Sept. 21-22.
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