Ritchie Bros. Holds Record-Breaking Florida Auctions

📅   Wed March 01, 2017 - National Edition

Ten thousand equipment items sold in just five days. Its both a monumental feat and just another day of business for Ritchie Bros., as the company sold items for a record more than 1,000 sellers at its global auction in Orlando, Fla., from Feb. 20 to 24.

More than $188 million of equipment and trucks was sold at the five-day mega-auction, with approximately 38 percent (more than $71 million) selling to online buyers. A record 10,400-plus people from 88 countries registered to bid in the auction, with buyers from the United States purchasing 79 percent of the equipment and international buyers purchasing 21 percent, from such countries as Germany, Australia and Vietnam.

“We would like to offer a sincere thank you to all the sellers and buyers that made this sale a huge success,” said Ravi Saligram, CEO of Ritchie Bros. “Our February Orlando auction is a very important event in our auction calendar. Our customers clearly appreciated the diverse line-up of equipment as they turned up in record numbers, helping us achieve strong pricing in all categories throughout the week. As a result, we saw a nine percent increase in total gross auction proceeds over the same auction last year.”

Ravi added, “Since we opened our Orlando site in 2003, more than $3 billion of equipment and trucks has been sold through our permanent facility. We could not have achieved this staggering number without the loyalty of our customers and the 'wow experience' provided by our passionate, orange-blooded employees. We can't wait to do it all over again next February.”

More than 10,000 equipment items were sold in the Orlando auction, including more than 610 excavators, 425 compactors, 300 loaders, more than300 skid steers, 175-plus dozers, more than 140 loader backhoes, 110 cranes, 440-plus aerial workplatforms, more than 210 dump trucks, 490-plus truck tractors, and more.

“We sent things from all over the country here — we brought machines from Chicago, Pennsylvania, and Kentucky,” said Chrissy Wolfe, equipment procurement & disposal manager of Walsh Construction. “The Ritchie Bros. Orlando auction is the quintessential kick-off for the auction season — usually how equipment pricing trends here is an indication for how the rest of the year is going to go, so that was one of the main reasons we consolidated everything at this auction. We were very happy with the outcome; they exceeded our expectations. It was a great event and we are optimistic that the rest of 2017 will continue this trend.”

“It's always fun to come to the big one.” said Jorge Julian Gaviria, owner of Agroservicios San Simon S.A. “You can find everything here. For me, it's all about relationships and trust. That's what I look for in a company I do business with and it's what I've found with Ritchie Bros.”—CEG