Ritchie Bros. reports record year for turning idle assets into cash
Rehana BeggIndustry Machinery and Equipment Maintenance
Edmonton – In 2016 Ritchie Bros. held six auctions at its flagship site in Edmonton, AB, selling 43,500+ equipment items and trucks for CA$728+ million (US$559+ million). This includes last week’s two-day auction on December 8 – 9, when 4,500+ items were sold for CA$66+ million (US$50+ million).
This year, Ritchie Bros. registered a record 65,800+ bidders in Edmonton — up 12 per cent from 2015. Approximately 69 per cent of these bidders registered to participate online, up approximately six per cent from 2015. In 2016, online bidders purchased CA$450+ million (US$347+ million) of the equipment sold in Edmonton — up approximately 11 percent from 2015.
“We helped more Alberta companies than ever before turn their underutilized or idle assets into cash this year,” said Brian Glenn, Senior Vice President, Ritchie Bros. “At the same time we set new company bidder records, with as many as 16,000 bidders for a single auction. Our ability to reach the right buyers from Alberta, across Canada and around the world helped us achieve solid returns for our sellers. The pricing levels achieved in last week’s auction were very encouraging for our sellers as we saw good returns for assets in all categories.”
For the December 8 – 9, 2016 auction, 7,550+ people registered to bid from 52 countries. Approximately 88 per cent of the equipment in the auction was sold to Canadian buyers (by dollar value), including 55 percent sold to Albertans; about 10 percent was sold to U.S. buyers. Online buyers purchased 67 percent (CA$44+ million or US$33+ million) of the equipment.
“We saw bidders on our equipment from all over the world,” said Lorne Zaparniuk, Vice President of Corvet Construction 1977 Ltd., who sold close to 300 items in the December Edmonton auction as part of a complete dispersal. “My father has been buying and selling equipment with Ritchie Bros. since the 1960s. Our companies grew up together. The professionalism and service from Ritchie Bros. is unmatched in the industry. We are very happy with the results on the equipment we sold last week. The experience was both pleasurable and profitable.”
Auction quick facts: Edmonton, AB (December 8 – 9, 2016)
- – Gross auction proceeds – CA$66+ million (US$50+ million)
- – Amount sold to online bidders – CA$44+ million (US$33+ million)
- – Total registered bidders (onsite and online) – 7,550+ bidders from 52 countries
- – Online registered bidders – 5,700+
- – Number of lots sold – 4,500+
- – Number of sellers – 670+
2016 EDMONTON, AB TOTALS:
- – Total gross auction proceeds – CA$728+ million (US$559+ million)
- – Amount sold to online bidders – CA$450+ million (US$347+ million) or approx. 62 percent of total sales
- – Total bidder registrations (onsite and online) – 65,800+ bidders
- – Online bidder registrations – 45,300+
- – Number of lots sold – 43,500+
Ritchie Bros. will conduct 15 more unreserved public auctions in 2016. Visit rbauction.com for a complete list of upcoming auctions and equipment available. The next Edmonton auction will be held in February 2017.