Ritchie Bros. Sells $69.21MM in Equipment at Fourth 2020 Auction in Edmonton, AB
SEP 15, 2020 - 7:11 am
Ritchie Bros. sold close to 10,000 equipment items and trucks for more than C$91 million ($69.21 million) over four days during its fourth auction of the year at its Edmonton, AB, site.
The auction was held between Sept. 9 and Sept. 12 and attracted more than 16,000 bidders from 49 countries, which was up 11% from the same auction in 2019. The auction was conducted exclusively online, with Canadian online bidders purchasing 91% of the equipment, including 54% by Alberta buyers. International buyers from countries such as Ireland, India and Singapore purchased 9% of the equipment.
“We continue to attract record numbers of bidders in 2020, resulting in strong pricing across most equipment categories in last week’s Edmonton auction,” Andrew Lutic, regional sales manager for Ritchie Bros., said. “Thank you to all the consignors for putting your trust in Ritchie Bros. to deliver results during these unprecedented times. It’s a responsibility we take very seriously.”
Equipment in the auction was sold for more than 1,200 owners, including a selection of oilfield hauling equipment for the Nisku, AB-based company Fox Transport.
“Ritchie Bros. is the best place to disperse your inventory because of the breadth and depth of bidders their auctions attract,” Chris Cassin, president of Fox Transport, said. “We’ve built a strong relationship with the team at Ritchie Bros. over the years. They’re quick to respond and always supportive and respectful. We wouldn’t hesitate to work with them again.”
Auction Quick Facts: Edmonton, AB (September 2020)
Total gross transactional value – More than C$91 million ($69.21 million)
Total registered bidders – More than 16,000
Total lots sold – More than 9,980
Number of consignors – More than 1,200
Ritchie Bros. has more than 70,000 equipment items and trucks available in its upcoming events, including the company’s next Edmonton, AB, auction, which is scheduled for Oct. 28 to Oct. 30.
What inspires you? I bet the first thing you didn’t say was finance companies. To be honest, I would’ve felt the same way if you asked me that question a month ago, but after having the privilege of talking with... read more
Sam Smith’s interest in equipment started at a young age, as his father was CEO of a manufacturer of injection molding machines. Smith initially became fascinated by the plastics and packaging industries, but as his career progressed, he and his... read more