Ritchie Bros. Sells More Than $559 Million of Equipment and Trucks in Edmonton, AB in 2016

📅   Mon December 12, 2016 - National Edition


In 2016 Ritchie Bros. held six auctions at its flagship site in Edmonton, AB, selling more than 43,500 equipment items and trucks for more than $559 million.
In 2016 Ritchie Bros. held six auctions at its flagship site in Edmonton, AB, selling more than 43,500 equipment items and trucks for more than $559 million.

In 2016 Ritchie Bros. held six auctions at its flagship site in Edmonton, AB, selling more than 43,500 equipment items and trucks for more than $559 million. This includes last week's two-day auction on December 8 – 9, when more than 4,500 items were sold for more than $50 million.

This year, Ritchie Bros. registered a record more than 65,800 bidders in Edmonton — up 12 percent from 2015. Approximately 69 percent of these bidders registered to participate online, up approximately six percent from 2015. In 2016, online bidders purchased more than $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, more than 7,550 people registered to bid from 52 countries. Approximately 88 percent 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 – more than $50 million

Amount sold to online bidders – more than $33 million

Total registered bidders (onsite and online) – more than 7,550 bidders from 52 countries

Online registered bidders – more than 5,700

Number of lots sold – more than 4,500

Number of sellers – more than 670

2016 EDMONTON, AB TOTALS:

Total gross auction proceeds – more than $559 million

Amount sold to online bidders – more than $347 million or approx. 62 percent of total sales

Total bidder registrations (onsite and online) – more than 65,800 bidders

Online bidder registrations – more than 45,300

Number of lots sold – more than 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.