December 15, 2011

Ritchie Bros. nets $1-billion in online auction sales for 2011

EDMONTON

Ritchie Bros. Auctioneers, the world’s largest auctioneer of heavy equipment and trucks, attracted more than 5,000 bidders from 35 countries to a two-day CA$66 million unreserved public auction at its site in Edmonton, Alta., which started Dec. 7.

More than 1,800 of the bidders (36 per cent) participated online in real time at www.rbauction.com, purchasing more than CA$18 million of equipment (28 per cent). With the sale of a 2005 Terex 6x6 articulated dump truck to an online bidder on day one of the auction, Ritchie Bros. reached a new company milestone: US$1 billion of equipment sold online in a single calendar year.

“It’s a real honour that the piece of equipment that pushed us over the one billion dollar mark in online sales was sold here in Edmonton, our first permanent auction site. It’s a nice historic homecoming for Ritchie Bros.,” said Jim Rotlisberger, Regional Manager, Ritchie Bros. Auctioneers.

The Edmonton auction featured more than 3,600 heavy equipment items and trucks from 550+ consignors.

“Online bidding gives the world a chance to be at the auction,” said Lorrie McMeekin, owner of McMeekin Construction Ltd. “Of course with Ritchie Bros. you get the best of both worlds, whether you like to attend the auctions and participate in person or in your private auction theatre at home or office, either way you are well served. And that’s good for the seller too because it opens up the equipment to greater exposure.”

Cabay’s Dirtworks Ltd. sold more than 60 pieces of equipment, including 9 Caterpillar crawler tractors, as part of a complete dispersal for the family-owned heavy equipment and construction contracting company. There are currently 15 upcoming unreserved public auctions left on the Ritchie Bros. 2011 auction calendar at www.rbauction.com.

DCN NEWS SERVICES

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