Ritchie Bros. Auctioneers Sets Record With $23M Auction in MD

Wed May 04, 2005 - Northeast Edition

More than 2,100 bidders from 26 countries, including all 50 U.S. states and 10 Canadian provinces, registered to participate in the Ritchie Bros. Auctioneers Incorporated North East, MD, unreserved auction, on April 12 and 13.

Bidders competed for 2,690 pieces of industrial equipment and trucks generating a total of $23.7 million in auction sales, making it the highest-grossing auction in the facility’s history.

The auction’s success was fueled in part by the participation of 545 online bidders, who registered and bid using the Ritchie Bros. online bidding service, which allows users to participate live and in real-time in the company’s unreserved auctions from anywhere in the world. Online buyers accounted for $4.5 million, or 19 percent, of total sales.

Joe Boyle, Ritchie Bros. division manager of North East, said the wide selection of trucks and industrial equipment attracted a broad cross-section of bidders from all over the world, and that in turn led to a successful sale.

“The buyers and the consignors were winners at this auction,” he said. “Buyers had an enormous range of lots to choose from, and consignors know we attracted a genuine worldwide audience to this auction, getting them global market value for their assets.”

The auction hosted registered bidders from as nearby as Delaware and Pennsylvania, and as far away as Bolivia, Trinidad and Tobago, South Africa, and India.

The North East auction was the company’s fifth in less than three weeks that generated $20 million or more in gross auction sales.

The Ritchie Bros. auction calendar currently has 39 upcoming auctions scheduled in nine countries on four continents.

For more information, visit www.rbauction.com.