Ritchie Bros. Sells $73MM of Equipment in Edmonton Auction

Ritchie Bros. sold more than 6,800 equipment items and trucks for C$94 million ($73 million) during its Edmonton, AB auction from October 24 – October 27. The event attracted more than 9,850 bidders from 47 countries, including 7,300 online bidders.

Canadian buyers purchased 92% of the equipment in the auction, with bidders from Alberta (58%), British Columbia (19%) and Saskatchewan (9%) being the biggest Canadian buyers. International buyers from such countries as the UK, Hong Kong and New Zealand purchased 8%. Approximately 63% of the equipment was sold to online buyers.

“We saw very active bidding onsite and online, with strong pricing through most equipment categories,” said Trent Vandenberghe, sales director of Ritchie Bros. “We achieved strong price increases year over year for oil and gas transportation assets, including picker, bed and fluid hauling trucks. Meanwhile construction sector equipment supply constraints continue to positively impact pricing. We also saw solid pricing for the transportation, forestry and agricultural equipment in the auction, particularly the late-model equipment available.”

The auction featured equipment from more than 1,000 owners, including nine Caterpillar crawler tractors sold for Lloydminster, SK-based Garfield Diesel Repair.

“I brought my equipment to Ritchie Bros. because of the wide exposure they provide through their marketing and website,” said Jim Holowachuk, owner of Garfield Diesel Repair and Cinco Developments. “They are able to reach bidders across Canada and around the world. Two of my dozers sold to buyers in Saskatchewan and one went to British Columbia. I’m happy with the results; prices were good. I would recommend Ritchie Bros. to anyone. Their team is dedicated to providing quality, professional customer service and communication, 24 hours a day.”

Equipment highlights in the Edmonton October auction included 80 excavators, 70 skid steers, 65 compactors, 55 dozers, 40 loaders, 75 flatbed trucks, 60 boom trucks, 175 truck tractors and 650 trailers. All items were sold without minimum bids or reserve prices.

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