MRO Magazine

Record-breaking industrial auction held in Edmonton

Edmonton, AB -- July 4, 2002 -- Ritchie Bros. Auctioneers held one of its largest ever one-day auctions at its new...


Industry

July 4, 2002
By MRO Magazine

Edmonton, AB — July 4, 2002 — Ritchie Bros. Auctioneers held one of its largest ever one-day auctions at its new auction facility in Edmonton, Alta., in mid-June, 2002. With over $31 million in gross auction sales, the unreserved public auction also marked the largest Canadian auction in Ritchie Bros.’ 38-year history.

More than 3,000 people registered to bid on 2,368 items during the sale. While there were many local attendees, bidders travelled from all over Canada, the U.S. and abroad to participate in the auction. Others watched or placed real-time bids over the Internet on rbauction.com. All told, registered bidders from 10 Canadian provinces, 29 U.S. states, and 10 other countries participated in the sale.

“We’ve always been very proud of how our customers have helped us build the business,” commented Dave Ritchie, the company’s chairman and CEO. “Our sales in Edmonton always attract good crowds, but this grand-opening sale in particular was very well attended.

“Having this new location with more room for trucks and equipment, and having full-service amenities that suit the Northern Alberta climate, allows us to serve our customers even better.”

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The new 125-acre facility south of Edmonton is the first of its kind in the Ritchie Bros. network. The site has two auction ramps — with combined seating for 1,800 bidders — allowing for two simultaneous auctions. “We’ve been looking forward to opening this facility for a very long time. The innovative dual auction ramps allow us to help our customers save time. Instead of having two or three-day sales in Edmonton, we can have a one-day sale and let our customers get back to running their businesses the very next day.” said Doug Olive, divisional manager.

During the inaugural auction, Ritchie Bros.’ former auction site in Nisku (Edmonton), Alta., was also sold by unreserved auction; it sold for over $2.3 million. “While selling real estate unreserved in an industrial equipment auction may seem a little out of the ordinary, we believe in the strength and drawing power of our unreserved auctions,” commented Clay Tippett, marketing manager.

For more information, visit www.rbauction.com.