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Ritchie Bros. Breaks Record

Tue August 21, 2007 - West Edition
Construction Equipment Guide

Ritchie Bros. Auctioneers online bidding service, rbauctionBid-Live, broke its own record at a $38 million dollar unreserved auction in Fort Worth, Texas, July 11 to 13. Close to $11 million worth of trucks and other industrial equipment in the auction was purchased online — a new record for the company’s permanent Fort Worth auction site.

More than 2,200 registered bidders from 38 countries, including 45 U.S. states and nine Canadian provinces participated in the auction, more than 800 of them using rbauctionBid-Live. Internet bidders were winner or runner-up on 32 percent of the items available online.

“The internet played a significant part in this auction,” said David Hobbs, Ritchie Bros. division manager. “We saw bids coming in from all over the world, helping our local consignors reach a truly global marketplace. We had a nice spread of heavy earthmoving equipment in the auction that achieved really good prices. We also sold a condo overlooking the Texas Motor Speedway. The fair market values achieved in the unreserved auction pleased both buyers and sellers alike.”

Austin, Texas-based Joe Bland Construction consigned a range of equipment in the auction, including hydraulic excavators, a motor grader, crawler tractor and crawler loader. The items were sold to buyers from as far away as Mexico and Canada.

“We use Ritchie Bros. to sell most of our equipment because they bring in worldwide buyers with the internet bidding and get us the best prices for our equipment,” said Steve Agee, equipment manager for Joe Bland. ” We’re very happy with the prices we got at the Fort Worth auction.”

Approximately 3,000 lots from more than 400 consignors were sold to the highest bidder at the auction, including more than 100 truck tractors; seven cranes; approximately 50 hydraulic excavators; 31 motorgraders; 26 motor scrapers; 58 crawler tractors; 82 wheel loaders; and almost 200 forklifts, scissor lifts and boom lifts. Among the items sold to internet bidders at the auction: a compactor to Alberta, Canada; a wheel loader to Saudi Arabia; a crawler tractor to Egypt; an all terrain dump truck to Mexico; a pair of motor graders to Bolivia; and a number of loader backhoes and skid steer loaders to South Africa.

More than 10,300 items will be sold in 39 industrial and 13 agricultural unreserved auctions coming up on the Ritchie Bros. auction calendar.

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