With an uptick in the overall construction industry and a positive outlook over the next few years, heavy equipment and construction companies are both looking to purchase equipment to meet demand and/or sell used equipment to make room for newer equipment. Such was the case at a recent Ritchie Brothers auction in Houston, Texas, which attracted a record number of participants.
— Total Gross Auction Proceeds – $46+ million
— Amount sold to online bidders – $21+ million
— Registered bidders (in-person and online total) – 3,800+
— Registered online bidders – 2,250+ (new site record)
— Total Lots sold – 3,700+
— More than 500 sellers (new site record)
More than 3,800 people registered to bid in person or online in the auction, representing 59 countries, and 48 US states. Bidders from outside Texas purchased more than $25 million or 53 percent of total gross auction proceeds. More than 2,250 of the bidders taking part in the auction registered to bid online and purchased more than $21 million of equipment online. More than 3,700 heavy equipment items and trucks, including 80+ hydraulic excavators, 50+ cranes, a large selection of oilfield transportation equipment and more were up for auction in the two-day affair. To register for future auctions or more information visit https://www.rbauction.com/.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world’s largest seller of used equipment for the construction, transportation, agricultural, material handling, energy, mining, forestry, marine and other industries. The Company conducts hundreds of unreserved public auctions each year, selling more equipment to on-site and online bidders than any other company in the world (rbauction.com). The Company also operates an online marketplace through Ritchie Bros. EquipmentOne (EquipmentOne.com) and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). The Company has over 110 locations in more than 25 countries, including 44 auction sites worldwide.
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