On June 27-28, Ritchie Bros. held a pipeline construction event in Columbus, OH and sold more than 5,000 items for $93+ million over two days, including 138 pipelayers sold for $45+ million in just two hours.

The auction attracted 5,000+ bidders from 56 countries, including 4,000+ online bidders. U.S. buyers purchased approximately 80% of the equipment in the auction, while international buyers from as far away as Australia, Taiwan, and Cameroon purchased 20%. Online buyers purchased 48% of the equipment.

Sales highlights in the two-day Columbus auction included 30 Caterpillar PL83 pipelayers that sold for a combined $18.5+ million and 12 Caterpillar PL87 pipelayers that sold for a combined $9 million—both models have never been sold at auction before—and 17 Caterpillar D8T dozers that sold for a combined $4.9+ million. All items in the auction were sold without minimum bids or reserve prices.

“Our network effects were on full display as we created strong demand, extended our global reach, and realized strong pricing,” said Ravi Saligram, Ritchie Bros. CEO. “Our at-risk deals, including our ‘joint venture’ deal with Gordon Brothers performed extremely well and we created significant value for our consignors. I am very proud of the team’s flawless execution, once again reinforcing Ritchie Bros.’ auction prowess, digital expertise, and customer service are unparalleled.”

Approximately 1,800 of the items in the auction were sold as part of a complete dispersal for Welded Construction, an Ohio-based company that recently closed after more than 50 years in business.

Ritchie Bros. sold the Welded Construction equipment package in partnership with Gordon Brothers, a global advisory, restructuring, and investment firm.

“This was a unique package of equipment—some of these assets have never been sold at auction before, and still Ritchie Bros. was able to get the right buying audience there on auction day,” said Steve Hawkins, CEO of Welded Construction. “Ritchie Bros. and Gordon Brothers know how to market equipment and create the excitement needed to bring results.”

“This was a special sale for all of us who had the privilege to represent Welded as we brought its best-in-class fleet to the world market,” said Jim Burke, managing director, Gordon Brothers. “The results were outstanding.”

“Ritchie Bros. always goes the extra mile and this auction was no exception—great selection and brilliantly organized,” said one of the buyers at the Columbus auction, Jim Prince of Prince Pipeline & Integrity. “Welded Construction were well-known in the industry for taking great care of their equipment, so I’m not surprised by the strong prices on auction day. I love going to Ritchie Bros.’ sales—they always make you feel welcome and appreciated, like family, not just a customer.”

Established in 1958, Ritchie Bros. is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets.