With the massive economic impact of COVID-19, the need for full food banks is more important than ever and asset management and Ritchie Bros. has stepped up to help.
Over the past several weeks, Ritchie Bros. has made $187,500 in donations to 52 different food banks around the world, including organizations in United States, Canada, Australia, India, Japan, Spain, Germany, Italy, France, the Netherlands and the United Kingdom.
In June, Ritchie Bros. Auctioneers helped customers all around the world buy and sell thousands of used equipment items and trucks. With COVID-19 affecting everyone's lives and businesses, live auctions continue to be conducted 100 percent online in order to help keep everyone safe.
Ritchie Bros. is now sharing the insight it has into industry trends via its Market Trends module within its Ritchie Bros. Asset Solutions suite of tools, allowing customers, investors and analysts to better understand the strength of an asset class through in-depth analysis of Ritchie Bros.
Ritchie Bros. recently conducted its first-ever online-only auction in Mexico, at its site in Polotitlán.
Traditionally the site sees more than 80 percent of its bidders participating in person, so this was a big challenge for the company —and it succeeded.
The online strength and global network of Ritchie Bros. was on full display as the company set a new record, selling 35,000+ equipment items and trucks in 29 online auctions across five countries in just five days — making it the busiest week ever in the company's 60+-year history.
Ritchie Bros. is set to have its biggest week ever, selling 35,000+ equipment items in 29 auctions across the United States, Canada, France, Germany and Australia.
In just five days (June 22 to 26) the company will sell 3,800+ truck tractors, 900+ excavators, 600+ wheel loaders, 350+ dozers, and so much more across its three main selling solutions: Ritchie Bros.
For the past few months Ritchie Bros. Auctioneers has been conducting its site auctions as online-only bidding events and seen bidder registrations hit record levels.
On June 23 to 24, the company will combine equipment from four different locations — North East, Md.; North Franklin, Conn.; Pittsburgh, Pa.; and Williamsport, Pa.
Ritchie Bros. conducted its largest ever Fort Worth, Texas auction this week, selling close to 5,300 equipment items and trucks for $81+ million. Due to the COVID-19 pandemic, the auction was held with online-bidding only and set a new site bidder record in the process, registering 11,600+ people from 68 countries.
As a result of the sale of its Gold Rush excavator, Volvo Construction Equipment has contributed $290,000 to two nonprofit organizations — Building Homes for Heroes and Habitat for Humanity.
Volvo introduced the excavator to commemorate the 10th season of Gold Rush on Discovery Channel.
The April 21 to 22, 2020 auction, in Houston, Tex., which was conducted with online-bidding only due to state gathering restrictions, attracted more than 8,600 registered bidders from 62 countries and resulted in more than $43M in sales. U.S. buyers purchased approximately 93 percent of the equipment, with the top three state buyers being Texas, Calif., and Fla., while international buyers from such countries as India, Italy, and Peru purchased seven percent of the equipment.
Ritchie Bros. Auctioneers Incorporated reported the following results for the three months ended March 31, 2020:
Net income attributable to stockholders increased 26 percent to $22.8 million compared to $18.2 million in Q1 2019. Diluted earnings per share ("EPS") attributable to stockholders increased 24 percent to $0.21 per share in Q1 2020 compared to $0.17 per share in Q1 2019.