Ritchie Bros. Edmonton auction sees 50 percent increase in bidders

Ritchie Bros. Edmonton auction sees 50 percent increase in bidders

Ritchie Bros. Edmonton auction sees 50 percent increase in bidders

Ritchie Bros. drove strong results for consignors with its first big Canadian auction of the year, selling 5,100+ equipment items and trucks in Edmonton, AB for CA$53+ million (US$42+ million) last week.

The three-day, online auction attracted more than 17,000 bidders from 66 countries, which is up 50% from the February 2020 event.

“We drove record demand in Edmonton last year, registering more than 100,000 bidders through six auctions, and it continues in 2021 with a 50% increase in bidders year over year for this event alone,” said Trent Vandenberghe, Regional Sales Manager, Ritchie Bros. “Leading up to and during the auction we safely welcomed thousands of bidders onsite to inspect items they were interested in. Then they would drive to their home or office to bid from their laptop or phone. This hybrid-style auction, with equipment onsite and 100% of bidding online, provides safety and results. Buyers love the quality of the equipment; they just want more—now is a great time to sell.”

The February 23 – 25, 2021 auction set new online demand records for the February Edmonton auction, including new records for online page views (1.7+ million and up 55% YOY), watchlist adds (103,200+ and up 75% YOY), and PriorityBids (11,300+).

“Ritchie Bros. is the easiest way to sell equipment,” said consignor Mark Oleksyn, Chief Operating Officer for Mill Creek Sand & Gravel, based in Redwater, AB. “We’ve been buying and selling with Ritchie Bros. for 20 years. They provide excellent service, are extremely knowledgeable, and will get you the best prices for your equipment. It’s that simple!”

All items in the auction were sold unreserved and online only, with equipment stored onsite to help facilitate inspections. The company provided detailed equipment information through its website and mobile application and has also recently launched new data tools and services from RB Asset Solutions and Rouse Services to help customers better understand market pricing.

“Like Houston and Orlando earlier this year, we continue to see strong Ritchie Bros. pricing relative to all our market indexes and benchmarks. Last week Edmonton came in with an average price performance of 115% of Rouse’s auction channel pricing benchmark index,” said Sunil Tellis, Senior Vice President, Data & Analysis, Rouse Services. “In Edmonton we saw particularly strong returns for small and medium earthmoving equipment, which achieved 126% of benchmark, and aerial equipment, achieving 135% of benchmark.”

Approximately 94 percent of the equipment in the auction was purchased by Canadians, including 53 percent by Albertans, while international buyers from as far away as New Zealand, France, and the United Arab Emirates purchased the remaining six percent.

Sales Highlights

  • 2014 Volvo A40G 6×6 articulated dump truck was sold for CA$382,500 to an online buyer from Alberta
  • 2015 Caterpillar 390FL VG hydraulic excavator was sold for CA$277,500 to an online buyer from Alaska
  • 2005 Caterpillar 627G motor scraper was sold for CA$255,000 to an online buyer from Saskatchewan
  • 2007 Clemro 6×10 53-ft tridem control van was sold for CA$210,000 to an online buyer from Yukon
  • 2017 Xtreme XR1255 4x4x4 telescopic forklift was sold for CA$135,000 to an online buyer from Manitoba

Auction quick facts

  • Gross Transaction Value (GTV): CA$53+ million (US$42+ million)
  • Total Registered Bidders: 17,000+
  • Total Number of Lots: 5,100+
  • Total Number of Consignors: 700+

Ritchie Bros. will sell more than 60,000 equipment items and trucks in its upcoming auctions, including a Toronto, ON auction on March 9 – 11; Grande Prairie, AB on March 11; and Chilliwack, BC on March 17 – 18.

The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.

Post source : Ritchie Bros. Auctioneers

About The Author

Anthony has worked in the construction industry for many years and looks forward to bringing you news and stories on the highways industry from all over the world.

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